There was a good article this weekend in the Wall Street Journal titled, “Looking Past a Credit Score.” In this article, AnnaMaria Andriotis, the writer, referenced the push that credit card companies are making towards more easily accessible credit scores. Last month, the Consumer Financial Protection Bureau called on credit card companies to provide consumers with their scores in hopes of encouraging borrowers to improve their credit. Some credit card companies like Capital One and Discover are making moves to give consumers their credit scores when they access their account information online or receive their monthly statements. But does easier access to credit scores translate to higher transparency on the benefits of the scores you’re getting? This is where two
The Governors Highway Safety Association (GHSA) has reported a 10% increase in motorcycle crash fatalities during 2015 vs 2014. The study estimated 5,010 deaths in 2015, compared to 4,548 the year before. Why the increase? 30% of the fatal accidents involved the ever-present 2 most common factors: alcohol and speeding. Those numbers have remained relatively stable over the last decade or so. However, there’s also been an increase in distracted driving. Smartphone sales skyrocketed in recent years, and as users become more comfortable with the technology, they’re also more tempted to use social media and text messaging while on the road. GPS apps can also be a distraction, especially when they aren’t properly mounted. Researchers believe those dangerous driver habits,
The Consumer Financial Protection Bureau has been promising for a while to deal with predatory payday loans. They’ve now started their response, with a proposal to be followed up next year by a final ruling and regulations to go with it. I’m opposed to regulation in general and favor a free market approach, but that only works when the market is truly free. In this instance, the market is full of deception — and there’s nothing wrong with saying deception won’t be tolerated. Payday loans catch people when they have little choice. To combat extortion when people are desperate, the federal government could regulate this niche market out of business, allowing for another market for large, institutional lenders or other organizations with better policies. In other words, if there’s
Many people are now familiar with the defective Takata airbags that have been recalled around the world. And that’s a very good thing. 60 million have been recalled in the United States – the largest auto recall in history. These airbags have been linked to at least 13 deaths and over 100 injuries. Everyone needs to know about it. But here’s the crazy part: automakers are STILL making cars with these defective airbags – the exact airbags that have exploded and killed people. When you’re injured in a car accident, you need an experienced auto accident lawyer Memphis, TN courts know well. Takata (the airbag company) can’t make enough devices to cover both normal production AND the 60 million recalled cars. So the solution? Toyota, Volkswagen,
At a time when many families live paycheck to paycheck and so many of us struggle to pay the bills, it might seem crazy that we’re a nation of savers – or at least we’d like to be. Believe it or not, Americans prefer saving money over spending it. And that isn’t how we’ve always been. It’s a direct response to the 2008 financial crisis. As Gallup reported in April: In three Gallup polls before the 2008 crisis, an average of 49% of U.S. adults said they preferred saving. The average has jumped to 60% in nine polls since then. The highest percentage yet measured (65%) is the most recent. That means 2/3 of Americans prefer to save. But it doesn’t mean
In nursing homes all across America, there are a lot of people who do not belong and would do anything to leave. It could probably happen to you, in fact. Most people want to live in their communities for as long as they can, even and especially as they age or struggle with an injury. And in 2000, the Supreme Court decided they have that right. In theory, no one should have to stay in a nursing home if they can live elsewhere and would like to do so. That means they should be able to take advantage of state and federal programs to help them live on their own, with family, or in a group home. But the reality
Google has decided to stop advertising online payday loan companies in what they claim is an effort to protect their users from harmful lending practices and deceptive marketing of financial products. Online payday lenders make short-term loans at high interest rates to people who usually are very desperate for quick cash. The loans are very hard to pay back, and often borrowers are stuck paying never-ending interest on a loan that only lasted them a couple of weeks at the most. Payday loans are bad enough, but online payday loans make up 90% of the complaints to the Better Business Bureau about payday lenders. Because you’re sending an anonymous company your bank info over the internet, they can be fraudulent and even steal straight from your account. Need
This week, Joan Rivers’ family settled a medical malpractice lawsuit related to the late comedian’s death. Rivers died days after what should have been a routine endoscopy at a clinic in New York City. Her daughter filed the lawsuit, which claimed the doctors mishandled the endoscopy and performed another procedure – a laryngoscopy – on Rivers without consent. An anesthesiologist allegedly expressed concern over whether Rivers would be able to breathe, but was ignored (medical examiners later found the cause of death was brain damage from a lack of oxygen after she stopped breathing during her procedure). If you or a loved one have been a victim of an anesthesia mistake, contact a medical malpractice lawyer Memphis, TN believes in.
I recently had a client from Tipton County who needed a Chapter 7 bankruptcy. He desperately wanted to get out of debt, and time was of the essence. But he had some problems. The biggest: It appeared he wouldn’t qualify. Sometimes when you’re above a certain income level, bankruptcy lawyers will assume you need a Chapter 13 bankruptcy – which sets up a payment plan for your debts – rather than a Chapter 7. But this man wouldn’t benefit from a payment plan and clearly wanted and needed a Chapter 7. Other firms would have turned him away instantly. There’s no doubt in my mind. But we work hard for our clients, and we’re always willing to go the extra
A comprehensive guide to bankruptcy Bankruptcy is a form of relief and protection where consumer or businesses can cut down or restructure payments of their debts while being provided protection from their creditors in the federal bankruptcy court. You have probably heard of chapter 7 and chapter 13, these are just chapters in the bankruptcy book that allow for different scenarios under which a debtor can be protected. It is not uncommon for something to happen in your life that will cause a financial burden on you. Maybe you have been laid off or fired, perhaps you or a loved one have been injured or sick and have medical bills piling up. Whether you have had a catastrophic event or