| Volume 68 Number 4 |
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The People’s Lawyer’s Tip of the Day
You have won a free iPad! No you didn’t, and don’t respond to the email. Like many other “phishing” scams, this one just wants some of your personal information. Just say no, and delete the email Click here for more.
Debt Firms Skirt New Consumer Protections
In 2007, there were only about 100 debt settlement firms nationally. In 2010, there were over 1,000 firms across the nation. The growth of the industry was closely tied to the economic depression, as cash-strapped consumers had trouble making credit card and loan payments. With the industry growth came a dramatic increase in complaints. Many consumers were paying debt settlement companies large up-front fees only to find that the companies did nothing to deliver any type of debt relief. In response, the Federal Trade Commission banned some debt settlement companies from accepting upfront fees. However, debt settlement firms have already found a creative way around the ban by labeling the upfront costs as "legal fees." Be careful! Never sign up with a debt settlement firm without first checking them out first. If you ever have any questions, watch "Money, Credit, & the Law" in the video section of the People's Lawyer website. Click here for more.
Seven Debit Card Dangers
Your debit card is in danger. Every time you pull it out of your wallet, you must protect it. Whenever you use an ATM, settle a restaurant or bar tab, travel overseas, pay for gas, use public Wi-Fi, or go shopping online, your debit card information is at risk. Always consider using a credit card instead. It will be harder for others to steal your information and it will be easier to fight disputed charges. For seven dangers to watch out for when using your debit card, Click here for more.
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Estimate your capital gains (or losses) with this calculator! Click here for more.
For the Lawyers
Consumer is not limited to single recovery of statutory damages under Fair Credit Billing Act. The Ninth Circuit held that a plaintiff wasn’t limited to a single recovery of statutory damages for multiple violations of the Fair Credit Billing Act. Chase Bank admittedly committed multiple violations of the Fair Credit Billing Act by misidentifying a $645 charge on the plaintiff’s credit card account, failing to respond to her requests for information about it, continuing to seek payment for the charge despite her protests and reporting the debt as delinquent to credit agencies. When the plaintiff sued, Chase argued that her damages were limited to the $1,000 statutory penalty because §1640(g) expressly limits recovery for multiple violations where the violations involved “multiple failures to disclose.” But the court decided that the §1640(g) did not limit the plaintiff’s statutory damages. Click here for more.