| Volume 128 Number 12 |
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The People’s Lawyer’s Tip of the Day
With holidays around the corner, many of us will be buying gift cards. Under a new federal law, gifts cards cannot expire in a less than a year, and fees for not using the card may not be imposed during the first year. But up-front charges are not regulated. Shop around for your gift cards. Fees to purchase them differ, and many businesses charge less than face value or give “bonus” cards with your purchase. Click here for more.
Meal Substitute Soylent Stops Production After Making Customers Sick
Yesterday, Soylent stated it would no longer sell its popular nutritional powder as it investigates why some customers became sick after consuming it. The Los Angeles company said there appears to be a common ingredient in its powder and snack bars that is causing the problem. Soyment emerged as a popular start-up backed by more than $20 million in venture capital. The company's products when mixed with water or other liquids has enough fats, carbohydrates and other nutrients to replace a traditional meal. Click here for more.
Your Money
If you just got offered a new job or received a raise, be careful not to use an increase in salary to spend more. "Most people expand their spending according to their new salary," says Kit Yarrow, author of Decoding the New Consumer Mind. "Every category seems to get a boost, and all of a sudden, that increase in salary hasn't stretched across all those categories." Rather, examine your budget to see how you can best use this new income to improve your future. You can put more income into your retirement account. Or pay down any existing debt. Click here for more.
For the Lawyers
Attempting to collect time-barred debt can violate Fair Debt Collection Practices Act, even if it does not threaten litigation. The Fifth Circuit considered whether a collection letter for a time-barred debt which contained a discounted “settlement offer” but which was silent as to the unenforceability of the debt and did not threaten litigation could mislead an unsophisticated consumer to believe that the debt could be enforceable in court and thus violate the FDCPA. The court reversed the district court and ruled that, regardless of whether litigation is threatened, a collection letter violates the FDCPA if its statements could mislead an unsophisticated consumer to believe that the time-barred debt is legally enforceable. Daugherty v. Convergent Outsourcing, Inc (5th Cir. 2016). Click here for more.