| Volume 136 Number 2 |
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The People’s Lawyer’s Tip of the Day
As a general rule, relatives and beneficiaries of someone who dies do not owe the deceased’s debts. If a debt collector contact you about paying the debts of some who dies, tell him to contact the executor of the estate. Click here for more.
Watch out for this surprise credit-card charge, the CFPB warns
Consumers, beware of confusing retail credit cards. That’s the message from the Consumer Financial Protection Bureau on Thursday. The agency said it has sent letters to major retail credit card companies to reconsider a pricing method some of them are using because it may “lack transparency to consumers.” “Deferred interest” means they offer no interest for a set period of time, as long as the balance is paid in full by the end of that promotional period. For consumers who are able to pay that balance off, a deferred-interest card can then be a viable option. The problem, the bureau said: Many consumers do not realize they will be charged interest retroactively on all the purchase made during the promotional period if they do not pay the balance in full. And it may not be clear from reading the cards’ terms that this is the case.
Click here for more.
Your Money
How much money do you really need in your savings account? Bank savings accounts don't exactly earn you a huge return these days, however savings accounts do serve an important purpose as a safety net. Should you run into some sort of crisis a well-funded savings account can get you through it while avoiding the drawbacks of going into debt. But how do you qualify "well-funded" in terms of a saving account? How much you really need in your savings account depends on your lifestyle and circumstances. If you're single, have a stable job, and you have parents or other family members who can be counted on to help out in a pinch, you won't need to save as much as someone who is married with several young kids and doesn't have anyone else around for financial support. In the former situation, saving enough to get you through three months without any other sources of income should be enough. If your living situation is more precarious or other people are depending on you, aim for 6 to 12 months' worth of expenses in your savings account. Click here for more.
For the Lawyers
Unsolicited fax did not violate the TCPA. The Eleventh Circuit held that under the TCPA, a plaintiff suffers a concrete injury because the plaintiff’s fax machine is occupied while the unsolicited fax is being sent. The court found no violation of the Act, however, because the fax did not promote the sale of the sender’s products and, therefore, was not an unsolicited advertisement. The Florence Endocrine Clinic v. Arriva Medical (11th Cir. 2017). Click here for more.