| Volume 53 Number 1 |
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The People’s Lawyer’s Tip of the Day
You can sue in small claims court for as much as $10,000. But you cannot just "take less" to get into court. If you are owed $11,000, you can't sue in small claims court for only $10,000. Click here for more.
FTC Sets New Rules for Debt Companies
In an effort to protect consumers, the Federal Trade Commission has issued new rules for the rapidly developing debt relief industry. According to the FTC, debt relief companies often charge significant upfront fees and often fail to reduce the amount of debt consumers owe to creditors. Starting October 27, for-profit debt relief companies will be prohibited from collecting advance fees. Furthermore, starting September 27, the new rules will also require companies to disclose the estimated cost of the process and the estimated time to see results. Are you considering a debt relief firm to settle your debts? You may be able to accomplish the same results on your own. Click here for more.
Back-to-Back Recessions a Possibility
As the American economy continues to pull out of a devastating recession, most economists predict brighter days are ahead. However, a minority of economists and politicians are predicting back-to-back recessions. The vocal group could end up creating a self-fulfilling prophecy if consumers start to tighten their walets for fear of another economic recession. How can simply predicting another recession lead to a recession? For an examination of the consumer behavior, and the "self-fulfilling prophecy", Click here for more.
Save $1 Million By 65 Years Old
Are you in your late twenties or early thirties? Would you like to save $1 million by the time you are 65 years old? For some strategic investment and savings options, Click here for more.
July 2010 Recall List
The United States Product Safety Commission released a report of major recalls and newsworthy safety articles for the month of July. To view the list, Click here for more.
Your Money
Compare your salary to the movie stars! Click here for more.
For the Lawyers
The Retirees’ Bankruptcy Protection Act trumps ERISA. The Third Circuit held that a corporation in bankruptcy cannot terminate its retirees' health and life insurance benefits -- even if its ERISA plan explicitly reserved its right to unilaterally terminate such benefits -- unless it can show that doing so is a necessary part of its reorganization plan. The 95-page decision promises to alter the playing field in big corporate bankruptcies by mandating compliance with Section 1114 of the Retiree Benefits Bankruptcy Protection Act without exception. Click here for more.