| Volume 59 Number 3 |
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The People’s Lawyer’s Tip of the Day
Under a new federal law most gift cards cannot expire in less than five years, but not all. Certain business, bonus or rebate cards may have a much shorter expiration date. Carefully read any gift card to determine how long you may use it.
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Tax Preparation: Tips & Traps
Tax season is upon us! Technology has made do-it-yourself tax preparation much easier for consumers. There are now dozens of online sites that can help you electronically prepare, store, and file your tax returns. If you're preparing your own taxes, take note of these tips and tricks! Click here for more.
Bank of America Tackles Foreclosures
Bank of America has already spent billions of dollars paying off claims from bad mortgages. Forecasters predict the bank could face tens of billions more righting the subprime wrongs. As a result, the bank has created Legacy Asset Servicing to oversee mortgage modification and foreclosure programs, while also handling existing residential claims. Will Legacy Asset Servicing pull Bank of America out of the subprime disaster? Click here for more.
Proposal: $7,500 Discount for Electric Cars
The Obama Administration wants 1 million electric cars on the road by 2015. To meet that goal, the Administration has proposed a $7,500 discount that will go directly to consumers, without the traditional "tax hoops." To that end, auto sellers would take the tax credit and give consumers an on-the-spot discount. Would you purchase an electric car if you received a $7,500 discount? Click here for more.
Your Money
Which is right for you? A new or used car? Click here for more.
For the Lawyers
Communication directed to consumer’s attorney is actionable under the FDCPA. The Third Circuit held that a law firm’s letter to the debtor’s attorney might have violated the FDCPA. The plaintiff alleged the defendant violated the FDCPA by demanding $910 in attorney fees when court rule permits only $15.43, $335 for searches when court rule permits only $75, $160 for recording fees when the actual fee was only $60, and $475 for service of process when statute and court rule limit reimbursement to $175. The court noted that “If an otherwise improper communication would escape FDCPA liability simply because that communication was directed to a consumer’s attorney, it would undermine the deterrent effect of strict liability.” Click here for more.