| Volume 6 Number 4 |
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The People’s Lawyer’s Tip of the Day
Always use a credit card when shopping online or by mail. Federal law allows you to refuse to pay the credit card bill if the goods are never delivered.
Opt-Out of Firm Offers of Credit or Insurance
Under the Fair Credit Reporting Act (FCRA), the Consumer Credit Reporting Companies, are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance. The FCRA also provides you the right to "Opt-Out", which prevents Consumer Credit Reporting Companies from providing your credit file information for firm offers of credit or insurance that are not initiated by you. Click here for more.
Person-to-Person Lending: High Return, but Risky?
Yields on certificates of deposit, or CDs, may be in need of an injection now that the Federal Reserve appears to be winding down the rate hikes, but that doesn't mean high yields are a thing of the past. Fixed-income investors who are willing to take on some risk -- and devote some time to research -- may want to explore lending in the consumer credit market. In the traditional scenario, you give money for a CD to the bank and the bank gives you a guaranteed interest rate. The bank then lends your deposit to a customer who needs a loan, but at a higher interest rate. What if you could find that person in need of a loan, lend him or her the money yourself and charge a better rate than you could get on a CD? Click here for more.
The Health-Care Homework Headache
Open-enrollment season for benefits traditionally arrives in October and runs until November -- and in some cases lasts as late as December. It always comes the same time each year, and yet we put off opening those packets Click here for more.
Your Money
How much car can you afford? Click here for more.
For the Lawyers
Congress has just passed a new military payday loan bill. The new law prohibits an annual rate of interest in excess of 36%, prohibits basing loans on writing checks without adequate funds in the bank, and prohibits binding mandatory arbitration clause. For a copy of the new law Click here for more.