| Volume 10 Number 3 |
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The People’s Lawyer’s Tip of the Day
If you die without a will, the law determines who will inherit your property. Only if there are no living heirs will it go to the state. In Texas, as a general rule, if you die without a will your property goes to your spouse, if you do not have a spouse, your children, if no children your parents, if they are not alive brothers and sisters, and so on.
Seven Tax-Filing Moves You Can Make Now
Earlier is better when it comes to working on your taxes, for both you and the Internal Revenue Service. By getting a head start on tax preparation, you avoid the last-minute rush, when many filing mistakes are made. And the sooner the tax agency gets your return, the sooner it can process it and get your refund on its way to you. Click here for more.
Private College Loans Gain Popularity
Students are relying more and more on private lenders to fund their college educations. Last year, private college loans totaled $17.3 billion and accounted for one out of every five dollars borrowed for college, according to The College Board. A decade ago, private lenders provided only 4 percent of college loan money. Soaring college costs are driving the trend. Click here for more.
For People on Debt Management Plans: A Must-Do List
Reputable credit counseling organizations employ counselors who are certified and trained in consumer credit, money and debt management, and budgeting. Those organizations that are nonprofit have a legal obligation to provide education and counseling. But not all credit counseling organizations provide these services. Some charge high fees, not all of which are disclosed, or urge you to make 'voluntary" contributions that can cause you to fall deeper into debt. Click here for more.
Your Money
Should I use a home equity loan instead of an auto loan? Click here for more.
For the Lawyers
Borrowers can't pursue rescission class action under TILA. The 1st Circuit ahs held that residential borrowers seeking to rescind their home loans can't pursue class action relief under the Truth in Lending Act. The court stated, "We ground this holding primarily on our conclusion that Congress did not intend rescission suits to receive class-action treatment." Click here for more.