| Volume 33 Number 7 |
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The People’s Lawyer’s Tip of the Day
Under the law, a store may charge no more than $30 for a bounced check. There is no limit for how much a bank may charge. Shop around for a bank that charges a reasonable fee, and get "overdraft protection" to avoid high fees for a bounced check. Click here for more.
Free Tax Return Preparation
Do you need help preparing your income tax? If you qualify as elderly, military, or moderate to low income, the IRS has volunteers to help you prepare your return. Find out if you qualify! Click here for more.
New Hope for Consumers With Credit Cards
"A credit card agreement is supposed to be a contract, but in recent years cardholders have lost the ability to say no to unfair interest rate hikes and fees." This week, Rep. Carolyn Maloney pointed out one of the biggest problems facing consumers today. In December, congress passed The Credit Cardholders' Bill of Rights, a law that wouldn't wouldn't take effect until 2010. In response to the public outcry for help now, Maloney has reintroduced the bill, this time to take effect 90 days after Obama signs it in to law. Is there hope for the new bill to become law? Click here for more.
Fiat takes 35% stake in Chrysler
Italy's Fiat will take a 35% stake in Chrysler. Fiat, which makes Ferrari and Maserati, will not pay cash for their stake. Rather, Fiat will share products and platforms to streamline operations. After this major step, will Chrysler still need more help? Click here for more.
Tax Tips for the Unemployed
If you were unemployed for 2008, you likely have some questions about filing your income tax return. Specifically, do you still have to file a tax return? Probably. Do you have to pay tax on your unemployment checks? Absolutely. In fact, when consumers are unemployed, there are frequently many unique tax situations that must be addressed. Be aware of your responsibilities when filing your latest tax return. Click here for more.
Your Money
What are the true cost of paying the minimum on your credit card? Click here for more.
For the Lawyers
Arbitration clause granting unequal power and waiving legal rights deemed unconscionable. The U.S. District Court for the Northern District of California has held that an arbitration clause granting a franchiser the ability to sue in court while requiring a franchisee to arbitrate, to waive punitive damages, and to bring all actions within one year is substantively unconscionable under California law. Click here for more.