| Volume 66 Number 7 |
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The People’s Lawyer’s Tip of the Day
Writing a check when you do not have enough money in the bank is criminal and criminal charges may be filed. Stopping payment on a check because you are dissatisfied with the goods or services purchased is not, provided the money would have been available to pay it if payment had not been stopped. Click here for more.
Student Loan Default Rates on the Rise
The number of borrowers defaulting on federal student loans has risen dramatically over the past two years. Rising costs of tuition, low graduation rates, and a rocky job market are all leaving borrowers in a bind. Default rates are highest among for-profit colleges, with 15% of borrowers behind on payments. ITT and University of Phoenix are even higher, with default rates of 22.6% and 18.8% respectively. Unlike traditional unsecured debt, most student loans can't be discharged in bankruptcy. In order to help borrowers having trouble making payments, the Department of Education recently started an income-based repayment plan that caps payments at 15% of discretionary income. Are you having trouble making payments on your student loans? Click here for more.
Best Car for the Lowest Price
Are you in the market for a new or used car? How do you get the best bang for your buck? Start by looking at the history of reliability. If the brand is unreliable, it may not matter if you get a great deal at the time of purchase. After-all, the cost of ownership may chalk up the "true price" of the vehicle, making it more expensive than your alternative. Forbes used data from Consumer Reports to rank cars based on reliability and cost of ownership. Before you buy your next car, Click here for more.
Limiting Distractions in the Workplace
At the end of a long day of work, you may look back and think "what did I accomplish today?" You're not alone. In a world of distractions and multitasking, work product is usually the first thing to suffer. What can you do to increase your workplace efficiency? For starters, make yourself "unavailable," focus on "monotasking," and turn off your phone. For an in-depth look at improving workplace productivity, Click here for more.
Your Money
Evaluate your company's pension payout options! Click here for more.
For the Lawyers
Seller of wine bottles liable under Deceptive Trade Practices Act for misrepresentation about vintage. A Texas appellate court held that a representation regarding wine was not a mere breach of contract and was actionable under the DTPA. Click here for more.