| Volume 37 Number 7 |
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The People’s Lawyer’s Tip of the Day
If you can't get a good interest rate, consider increasing the amount of your monthly payment. For a $15,000 loan at 21 percent interest, payable at $405.80 for 60 months, the interest charge you pay over the term of the loan is $9,348.02. Your total repayment amount is $24,348.02. By adding just $50 a month, you shorten your payoff term to 50 months and save $1,814.22 in interest. Click here for more.
FTC Fights Warranty Robocalls
The Federal Trade Commission is working to put an end to deceptive robocalls offering phony extensions to original vehicle warranties. The FTC filed lawsuits against Voice Touch Inc. and Transcontinental Warranty Inc. The pre-recorded message tells consumers their original warranty is about to expire and to extend coverage before it's "too late." Consumers are charged between $2,000 and $3,000 for the bogus warranties. Have you been a victim of the bogus warranty robocalls? What recourse do you have? Click here for more.
US Economy Begins to Rebound
On Sunday, President Barack Obama's budget director, Peter Orszag, declared the nation's economy appears to have bottomed out. Although he insists we are not out of the woods yet, the free-fall appears to have stopped. As the economic turnaround takes shape, the Obama administration plans to tackle the deficit and health care reform. How long will it take for the economy to prosper again? Click here for more.
Chrysler Bankruptcy Affecting Payments
According to Consumer Reports, some consumers who have legal claims against Chrysler are being forgotten during the company's bankruptcy. In fact, some reimbursement checks Chrysler sent to consumers have bounced. If you have a claim against Chrysler, is there any hope of recovering? Click here for more.
Your Money
Expecting a tax refund? Should you save it or spend it? Click here for more.
For the Lawyers
Consumer class action can't be moved to federal court. The First Circuit has held that a Florida grocery chain that was sued in state court for failing to protect customer information couldn't remove the case to federal court to be consolidated with similar class actions from around the country. The class defined to consist entirely of Florida citizens sued a single corporation, also a Florida citizen, in Florida state court. The court agreed with the district court, which found that this case fit squarely within CAFA's home state exception and granted the plaintiff's motion to remand. Click here for more.