| Volume 83 Number 6 |
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The People’s Lawyer’s Tip of the Day
Shakespeare said, "Neither a borrower, nor a lender be." He could have added, or a co-signer, surety or guarantor. Whenever you co-sign for someone, you must pay if they do not. If they stop paying or file bankruptcy, you must pay. Don't ever co-sign for someone unless you will be able to pay.
For more general information about the law, visit my website. Click here for more.
FTC Reports Credit Errors Common
It might be time to take an extra close look at your credit report. According to the Federal Trade Commission, 5% of American consumers (40 million people) had an error on at least one of their three credit reports.
What happens if you find a mistake on your credit report? Unfortunately, it can be very difficult to get the credit bureau to correct the error. Just last weekend, 60 Minutes ran
a report highlighting the deficiencies of the dispute process. According to the report, its unlikely that someone with the authority to resolve the dispute will actually see the dispute. In fact, in a study of 262 consumers with credit report errors, only 37% said their concerns were addressed.
What can you do to protect your credit report?
Click here for more.
Potentially Painful American-US Air Merger
It may be time to prepare for another major airline merger. Just last year, United and Continental Airlines completed a ridiculously painful merger that left many consumers looking for alternative airlines. This time, American Airlines and US Airways are planning a marriage.
Early reports indicate that an American Airlines-US Airways merger could be much more protracted and painful than last year's United-Continental merger. If approved, a complete integration would likely take four or more years.
What does a potential American-US Airways merger mean for consumers?
Click here for more.
Recalled Cars Sold Without Repairs
Are you in the market for a car? Before you pull the trigger on the big purchase, make sure you do your due diligence. According to
Carfax, more than 2 million unrepaired recalled vehicles were sold in 2012.
How can you use recall information as a bargaining chip? What should you do before you buy a vehicle subject to recall?
Click here for more.
Your Money
Are you better off renting? Click here for more.
For the Lawyers
Toyota can't compel arbitration of anti-lock brake system claims. The Ninth Circuit affirmed a district court decision that Toyota Motor Sales, U.S.A., a nonsignatory to several agreements with arbitration provisions, could not compel plaintiffs to arbitrate. Click here for more.