| Volume 5 Number 6 |
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The People’s Lawyer’s Tip of the Day
Many of the contracts you sign have an "arbitration clause", prohibiting you from going to court, requiring you to arbitrate instead. Arbitration eliminates your right to a jury, the protections of our rules of evidence and procedure, or even an appeal. To see a discussion of whether this practice is legal, Click here for more.
Nine Ways to Avoid, Correct Upside Down Car Loans
Long-term auto financing is gaining traction with consumers hit hard by rising interest rates and out-of-control gas prices. More than half of new-car loans were for five, six, even seven years last year, according to the Consumer Bankers Association. That was up from 22 percent at the start of the decade. At first glance, longer loans might seem to make sense. Click here for more.
Smokers of Light Cigarettes Seek Class-Action Suit Status
Lawyers for smokers of light cigarettes have asked a federal judge to grant class-action status to a lawsuit against major tobacco companies, allowing tens of millions of people nationwide to seek as much as $200 billion in damages. Click here for more.
New Wrinkle in Easy Credit Leads to Ever-Higher Rates
A review of bankruptcy records confirms many Americans are burning out on alternative sources of credit. You still see credit card debt. But many debtors have exhausted even that option in their efforts to stay above water. Their credit card debt has been sold to a collection agency. Some have plundered the equity in their homes. But increasingly, even more are staggering under the weight of multiple, in some cases more than a dozen, high-interest payday loans. Click here for more.
Your Money
What will it take to save for a goal? Click here for more.
For the Lawyers
A debtor may waive the protections of the Fair Debt Collection Practices Act, which requires a debt collector to cease communication with the debtor upon written request. The 9th Circuit further held that, for purposes of 15 U.S.C. section 1692g, verification of a debt involves nothing more than the debt collector confirming in writing that the amount being demanded is what the creditor is claiming is owed. Click here for more.