| Volume 63 Number 7 |
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The People’s Lawyer’s Tip of the Day
Take advantage of the law and get a free copy of your credit report! You're entitled to one free credit report per year from each of the three credit bureaus. Stagger your requests! Get one credit report every four months. But be careful! Most credit report sites aren't actually free! There is only one government approved site for free credit reports. Click here for more.
Airlines Collect $3.4B in Bag Fees
Services that were once free are now serious revenue generators for the major airlines. The best example? Bag fees! Typically $50 for the first piece of luggage, bag fees are allowing airlines to make a profit, while balancing rising fuel costs with customers who expect low airfares. Passengers are frustrated - bags, snacks, drinks, and aisle seats, all once free, are all now extra. Bag fees alone generated $3.4 billion for the major airlines. On the other hand, fuel costs increased 37% over the past year, draining much of the new revenue. Why do the airlines nickel and dime their consumers? Will it ever change? Click here for more.
5 Ways to Raise Your Credit Score
Want to raise your credit score? Cultivating a good credit score can be very simple, yet surprisingly difficult. Paying your bills on time is a good first step. Beyond that, what else can you do? Check out these five uncommon ways to improve your credit score! Click here for more.
AT&T: Less Competition Means Lower Prices
Basic microeconomics tells us that competition will drive prices down. If you believe AT&T, its the other way around. According to AT&T representatives, the purchase of T-Mobile and reduction in competition will actually mean lower prices for consumers. Why? AT&T argues that the company will achieve new efficiencies by combining the companies and their infrastructure. The assumption, of course, is that AT&T will pass the savings on to consumers. Without competition out there to drive prices down, wouldn't AT&T turn the new efficiencies into profit? Click here for more.
Your Money
How long should I keep a vehicle? Click here for more.
For the Lawyers
Truth in Lending requires borrower only exercise right of rescission within three years. The District Court for the Northern District of Illinois held that the TILA statute of limitations requires that the borrower exercise the right to rescind within three years, but does not require that a lawsuit be filed. The court also noted that if the borrower establishes the right to sue for violation of the TILA’s rescission provisions, the borrow may bring a claim for damages, notwithstanding the Act’s one-year limitation provision. Click here for more.