| Volume 49 Number 10 |
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The People’s Lawyer’s Tip of the Day
Have you been bothered by a door-to-door salesman? Under the law, you have three days to change your mind whenever you sign a contract negotiated in your home by a salesperson. The best advice is don't talk to any salesperson who shows up at you door. But if you make a mistake and get talked into a bad deal, the law gives you three days to cancel. Click here for more.
President Obama's Financial Regulation Fight
Citing the possibility of another financial meltdown, President Obama is urging the financial sector to drop the effort to fight his financial regulation plan. President Obama has criticized Wall Street for a "failure of responsibility," nearly resulting in a second Great Depression. The proposed regulations would limit risky behavior and promote accountability on Wall Street. Why is the financial industry putting up such a fight? Click here for more.
Marketers Banned from Selling Credit & Mortgage Repair
Eight companies and their principals have been banned from selling credit and mortgage repair services after a federal court agreed with a complaint filed by the Federal Trade Commission. Furthermore, the companies have been ordered to pay $7.5 million for deceiving consumers nationwide. According to the complaint, the companies charged up to $2,000 for promises to improve credit scores by removing negative information such as late payments, charge-offs, collections, inquiries, delinquencies, judgments, and accounts discharged in bankruptcy. To find out the names of the companies and principals charged in the complaint, Click here for more.
How Foreclosure Impacts Your Credit
Are you delinquent on your mortgage? Are you facing foreclosure? If you miss a payment or face foreclosure, your credit score will probably take a big hit. Until recently, it was difficult to estimate the true impact. Are you 30 to 60 days late? 90 days late? Facing foreclosure, short sale or deed-in-lieu? Bankruptcy? Regardless of the situation, estimate the impact on your credit score! Click here for more.
Your Money
Now that tax day has passed, many consumers are expecting refunds. How much will your refund earn if you invest? Click here for more.
For the Lawyers
Court may enhance award under fee-shifting statute. The United States Supreme Court ruled that under federal fee-shifting statutes, judges may award fees that go above the "lodestar" amount under rare circumstances, including superior performance by the attorneys. The ruling involved a $4.5 million fee enhancement that Georgia was required to pay lawyers who brought and won a class action suit challenging the state's foster care system. Click here for more.