| Volume 64 Number 7 |
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The People’s Lawyer’s Tip of the Day
Texas has a lemon law. It applies to new cars, and gives you substantial legal rights against the manufacturer. A car is a lemon if it has been in the shop four or more times for the same problems, or two or more times if the problem is a safety defect. Click here for more.
Borders Stores Closing For Good
On Monday, Borders Group announced the closing of all of its 399 Borders and Waldenbooks retail stores. The company tried to save the retail outlets through Chapter 11 bankruptcy, but attempts at reorganization were not successful. The store closings will affect nearly 11,000 employees. Liquidation will begin soon. Stop by your local store to pick up some bargain books. Click here for more.
Seven Secrets About Store Brands
When you're at the grocery store, do you generally go with the brand name cereal or the generic stuff? The store brand "generic" product has come a long way in the past few years. What was once considered an inferior product has, in many cases, turned in to a viable and preferable alternative. In fact, "private label" products are brand name products with a different name. Since stores don't have any marketing or advertising costs associated with the products, they can generate substantial profits even when priced far below the brand name alternative. Why should you consider the store brand next time you go shopping? Click here for more.
The Complexity of a Credit Score
Did you know that the credit score you receive online and the credit score a lender reviews when you apply for a loan may be two completely different numbers? According to a study released by the Consumer Financial Protection Bureau, credit reporting agencies are using one set of models and financial data for consumer credit scores while using an entirely different set when determining the credit scores they report to banks, retailers, and other creditors. As a result, it may be impossible for a consumer to know his or her true credit score. Why are credit scores so complex? Click here for more.
Your Money
What are the tax savings of a qualified retirement/cafeteria plan? Click here for more.
For the Lawyers
Interest on attorneys’ fee award does not accrue until judgment is entered quantifying the amount. The U.S. District Court for the Northern District of Illinois, held that post judgment interest on substantial attorneys’ fees should not have been awarded. The court found that interest does not run until judgment is entered, and the fees were immediately paid thereafter. Click here for more.