| Volume 117 Number 4 |
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The People’s Lawyer’s Tip of the Day
The Medicare open enrollment period runs from October 15 until December 7. This is the time for Medicare recipients to comparison shop and make changes to their plans. Unfortunately, it is also a time when scammers posing as Medicare plan representatives may try to steal your personal information over the phone or by email. This link has tips on how to protect yourself from "open enrollment" scams. Click here for more.
VW Offers "No Strings Attached" $500 Visa Cards and Dealer Credits to Affected Consumers
Volkswagon announced that it will offer a $500 Visa debit card, which can be spent on anything, as well as a $500 dealership credit to U.S. owners of diesel cars (including Audi vehicles) with the software that cheated on emissions tests. The company said that it will also offer three years of free roadside assistance. VW has said that vehicle owners will not be required to relinquish their right to participate in a class-action lawsuit, take legal actions on their own or give up any potential future compensation. Click here for more.
Your Money
For a long time conventional wisdom held that you needed to keep 60% of your savings portfolio in stocks, and 40% in bonds. With bond rates at historically low levels, most financial advisers have backed off this formula. Because people are living longer, many advisers suggest that retired people need to keep a larger share of their portfolio in stocks than in the past. Further, because of low bond rates, investors seeking income need to find other vehicles, such as dividend paying stocks, to find income. This link discusses how to find balance in a modern portfolio. Click here for more.
For the Lawyers
Attorney’s fees may be awarded in a suit for damages to provide redress for a violation of the automatic bankruptcy stay. When a debtor files for bankruptcy, the Bankruptcy Code imposes an automatic stay on actions against the debtor to collect pre-petition debts. The Ninth Circuit reversed an earlier position it took in Sternberg v. Johnston, 595 F.3d 937 (9th Cir. 2010), and held that reasonable attorneys fees may be awarded in an action for damages based upon a violation of the stay. The court noted, “Having reconsidered the matter, we conclude that Sternberg misconstrued the plain meaning of § 362(k). To the extent it is inconsistent with this opinion, Sternberg is overruled.” The court concluded, “For these reasons, § 362(k) is best read as authorizing an award of attorney’s fees incurred in prosecuting an action for damages under the statute.” IN RE: Schwartz-Tallard (9th Cir. 10/14/15) Click here for more.