| Volume 36 Number 4 |
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The People’s Lawyer’s Tip of the Day
Shakespeare said, "Neither a borrower, nor a lender be." He could have added, or a co-signer, surety or guarantor. Whenever you co-sign for someone, you must pay if they do not. If they stop paying or file bankruptcy, you must pay. Don't ever co-sign for someone unless you will be able to pay. Click here for more.
GM Preparing for Bankruptcy
Under President Obama's demands, GM has until June 1 to meet its deadline to reach agreements with the workers union and creditors to avoid bankruptcy. However, according to one source, preparations for bankruptcy filing have become "intense and earnest." GM still owes about $28 billion to unsecured creditors. GM still hopes to win concessions from its creditors, but will that actually happen? Click here for more.
7 Signs of a Bad Health Plan
Limited benefits, low coverage limits, "affordable" premiums, no coverage for important things, ceilings on categories of care, limitless out-of-pocket costs, and random gotchas are all important things to avoid when evaluating insurance policies. Find out why and what you should know when insuring your family. Click here for more.
Consumer Credit Drops by $7.5 Billion
In February consumers again shied away from credit cards. After credit in January grew by 8.1 billion, consumer credit again dropped by $7.5 billion in February. While US household wealth dropped for the 6th straight quarter, the credit crisis has made it more difficult for consumers to borrow money, dramatically reducing the flow of money throughout the economy. Click here for more.
Your Money
Am I better off renting? Click here for more.
For the Lawyers
Union pact can mandate arbitration. The United States Supreme Court has held, in a split decision, that a clause in a collective bargaining agreement that requires arbitration of employees' age bias claims is enforceable as a matter of federal law. Click here for more.