| Volume 74 Number 9 |
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The People’s Lawyer’s Tip of the Day
The law limits how long you may be sued for a debt. In Texas most debts have a four year limitation period. If you are sued after that time, you have a defense based on what the law calls the "Statute of Limitations." Click here for more.
Chasing Student Loans
Student loan debt can be crippling. Unfortunately, sometimes an individual must make a basic choice - make a student loan payment, or eat. Although generally an over-dramatization, this is a very real choice for many former students (graduates and drop-outs alike) having trouble navigating a weak job market. Everyone knows that student loan debt is treated differently from virtually every other type of debt. What makes student loan debt particularly unique is the role the federal government plays in collecting delinquent student loans. One man made $454,000 in one year collecting student loan debt. His boss pulled in over $1 million. These men owe their success to an 18-year old agreement with the government, under which they collect fees from borrowers and commissions from taxpayers whenever they collect on delinquent student loans. How do you feel about the federal government using your tax money to fund debt collectors chasing after delinquent student loans? Click here for more.
E15 Ethanol May Damage Older Cars
In 2010, the Environmental Protection Agency (EPA) approved the sale of gasoline blended with up to 15% ethanol. Known at E15, the special gasoline has led to an uprising of sorts, leading to an alliance between automakers and oil companies. Although E15 was already limited to vehicles made after 2001, a study sanctioned by automakers and oil companies showed that use of E15 can lead to valve or cylinder-head replacement in vehicles make from 2001 to 2009. Thus far, no gas stations sell the E15 gasoline blend. Some consumer groups are fighting to keep it that way. Find out why. Click here for more.
Your Money
What is the future value of an annuity? Click here for more.
For the Lawyers
Debt collector may have violated Telephone Consumer Protection Act. The Seventh Circuit held that a debt collector may have violated the TCPA when its automated dialing system contacted cell phone users with reassigned numbers. The debt collector argued that it had the consent of the prior owner and therefore didn’t violate the Act. The court disagreed, noting “there can’t be any long-term consent to call a given cell number, because no one … has a property right in a phone number. Consent to call a given number must come from its current subscriber.” Click here for more.