| Volume 137 Number 3 |
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The People’s Lawyer’s Tip of the Day
Be careful when getting trademark or patent. If you’ve created a product or service you’re eager to sell, it makes sense to get patent or trademark protection. But some information that looks official might really just a scam to get your money. Click here for more.
Actually Great Internet Sales That Aren't On Amazon
Amazon Prime got a lot of attention the past few days. No doubt, there are some legit great deals, but lucky for you non-Prime members (and competitive bargaineers), other stores are upping their sale game in response. Here are a few of the best deals from other retailers, including sporting goods, cleaning supplies, electronics and kitchen goods. Be sure to check what other major tech retailers like Best Buy, Microsoft, and even eBay for prices that rival Black Friday. Click here for more.
Your Money
Money terms you're too embarrassed to ask about:“Escrow” is a safe, intermediary account for money when it's moving between a buyer and seller. A "certificate of deposit," or CD, is among the safest investments available. CDs are sold by banks, thrifts and credit unions as very low-risk places to park money for a set amount of time while it earns a little interest. “APR” or “annual percentage rate” is the rate charged annually for borrowing money. But unlike an interest rate, it includes fees and other costs the transaction may include. Also, unlike annual percentage yield (APY), the APR doesn't take into account compounding interest. A “Mutual Fund” is an investment that allows small investors to come together to buy collections of diversified holdings, usually stocks or bonds, that they may not be able to afford individually. “Compound Interest” is great when we're talking about your money being invested. When interest is earned on an investment, it is automatically reinvested so the original amount grows, and, in the next period, you'll gain interest on that new higher sum. “FICO” meaning your credit score. Click here for more.
For the Lawyers
Changes in debtor’s financial condition allow modification of confirmed plan. The United States Bankruptcy Court for the Eastern District of Michigan recently allowed a debtor to modify his confirmed Chapter 13 plan based upon a mistake by the debtor’s counsel. The result of the modification was to reduce the plan to 36 months from 60 and reduce the repayment to unsecured creditors by 80 percent. In re Luman (Bankr. E.D. Mich. 2017). Click here for more.