| Volume 48 Number 5 |
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The People’s Lawyer’s Tip of the Day
Always use a credit card when shopping online or by mail. Federal law allows you to refuse to pay the credit card bill if the goods are never delivered. Click here for more.
Bankruptcy Filings Continue to Soar
The Administrative Office of the U.S. Courts released data this month that bankruptcy filings increased by 31.9 percent 2009. Bankruptcy filings have been steadily increased since 2006, primarily involving consumer debts. To find out the staggering number of bankruptcies filed in 2009, Click here for more.
Analysis: Cash for Clunkers
According to the latest report, the "Cash for Clunkers" program provided a more dramatic increase in sales that previously thought. A recent study finds that 765,000 new vehicles were sold because of the "Cash for Clunkers" program. Without the program, the vehicles would have remained on the lot. Initially, the Department of Transportation estimated the program was responsible for 346,000 sales. The 765,000 vehicles represents nearly 10% of all automotive sales for the year. Does the latest study reflect the true impact of the "Cash for Clunkers" program? Click here for more.
GM Reinstates Dealerships
General Motors will reinstate 661 dealerships that it planned to close as part of the company bankruptcy. General Motors has been aggressive in making changes since struggling to rebuild the company image in 2009. Is the reinstatement of dealerships a sign of good things to come? Click here for more.
LifeLock Reaches Agreement With AG & FTC
LifeLock Inc. has reached an agreement with the FTC, Texas Attorney General Greg Abbott, and thirty-four other states after complaints of deceptive trade practices. LifeLock, among the most popular identity theft protection services, was charged with exaggerating consumer protections, its range of services, and its ability to prevent ID theft. According to the agreement, LifeLock agreed to more accurately describe its services and will provide $11 million in restitution to eligible customers. Have you done business with LifeLock? Click here for more.
Your Money
The best way to save on health-care costs. Click here for more.
For the Lawyers
Supreme Court upholds Bankruptcy Act provision. The United States Supreme upheld the federal law that bars "debt relief agencies," including lawyers, from advising clients to incur more debt for filing for bankruptcy. A Minn.-based law firm asserted that the law should not cover lawyers, and the district court ruled that the law was unconstitutional as applied to the firm. The Court, in a decision authored by Justice Sonia Sotomayor, ruled that lawyers are included in the definition of debt relief agencies, and that the requirements of the law don't run afoul of the First Amendment. Justices Antonin Scalia and Clarence Thomas wrote separate concurrences. Click here for more.