What is the Fair Credit Reporting Act?

fair credit credit problems

What is the Fair Credit Reporting Act?

The Fair Credit Reporting Act (FCRA) is a federal law that regulates the activities of credit reporting bureaus. Private credit reporting bureaus, such as TRW Information Services, Equifax Credit Information Services, and Trans Union Credit Information Company, maintain records of financial payment histories, public record data (such as unlawful detainer (eviction) actions taken against you, or money judgments (entered against you), along with personal identification information. Credit reporting bureaus sell the information to creditors so the creditors can make decisions about whether or not to offer you credit.

The FCRA punishes unauthorized persons who obtain credit reports, as well as employees of credit reporting bureaus who furnish credit reports to unauthorized persons. The Act also specifies responsibilities of those supplying the reporting bureaus with information.

If the information about you from a credit reporting bureau is all good, there’s no need to worry about it. You should be able to obtain credit to purchase goods and services, rent an apartment, obtain a home mortgage loan, apply for insurance, and even obtain employment.

Negative information on file with credit reporting bureaus may be used against you to deny you credit, employment, or even the ability to rent an apartment. It is a good idea to check your credit reports on an annual basis, so that you know what creditors are being told before the information is disclosed to them. Credit reporting bureaus are allowed to charge you a reasonable fee to obtain a copy of your credit report in this situation.

When credit is denied to you based upon information obtained from a credit reporting bureau, the creditor must provide you with the credit reporting bureaus’ name and address. If you request (by telephone, mail or in person) a copy of your credit report from the credit reporting bureau within thirty days of the denial, the bureau must send your credit report to you for free, including the names of creditors who have provided the information to the bureau, and the names of everyone who has received a credit report on you in the last six months, or an employment report in the last two years.

If the information provided in a credit report turns out to be inaccurate and corrections are made or the consumer inserts an explanation, the credit reporting bureau must notify the recent recipients of information (as specified by the consumer) of the corrections or explanation.

The consumer reporting bureau must delete information about events that happened more than 7 years before from a report (or 10 years in case of bankruptcies).

(Reviewed 10.31.08)

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What is credit insurance?

credit insurance credit problems

What is credit insurance?

Credit insurance comes in several different forms:

Credit life insurance – the outstanding balance is paid in the event of your death.

Credit accident and health insurance – monthly credit payments are made for you during periods when you are unable to work due to accident or illness.

Credit unemployment insurance – monthly credit payments are made for you during periods when you are unemployed.

Credit insurance is a form of insurance where you are the purchaser and the lender is the beneficiary. The payments will be made directly to the lender. Though lenders sometimes offer or forward offers of credit insurance, your acceptance or rejection of credit insurance normally is not used as a factor in deciding whether to extend credit to you.

If the lender required credit insurance, the premium charged for the insurance must be included in the disclosure of the APR. In deciding whether to purchase credit insurance, consider other available forms of insurance (such as term life insurance or disability insurance) and the cost of such insurance. The credit insurance offered through your lender may not be the best deal.

(Reviewed 11.3.08)

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I can’t make the payments due under my Chapter 13 bankruptcy plan. What can I do?

chapter repayment consumer bankruptcy

I can’t make the payments due under my Chapter 13 bankruptcy plan. What can I do?

On occasion, changed circumstances (e.g., divorce, unemployment, illness) will affect your ability to make plan payments. If you have been hit with hard times, notify your attorney immediately. If your problem is temporary, the trustee may give some leeway in meeting your payment commitment, such as reducing your payments or extending the repayment period. If it looks severe or long-lasting, the court may:

(1) modify the plan to deal with your changed circumstances; or

(2) discharge the rest of your debts on the basis of hardship; or

(3) convert to a Chapter 7 liquidation case; or

(4) dismiss your Chapter 13 case, which means you’ll owe what you owed before filing for Chapter 13, less any payments; or

(5) suspend payments.

(Reviewed 11.14.08)

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Is Social Security counted as income in the means test under the new bankruptcy law?

bankruptcy social security consumer bankruptcy

Is Social Security counted as income in the means test under the new bankruptcy law?

No. Social security payments are excluded from the calculation of income for purposes of the means test.
Some consumer bankruptcy lawyers believe that unemployment compensation derives from the Social Security Act and should also be excluded from Current Monthly Income.
(Reviewed 11.14.08)

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What factors can be used to determine the amount of alimony?

What factors can be used to determine the amount of alimony?

Some of the factors (which vary from state to state) used to determine the amount of alimony to be paid by one spouse to the other include:

the ability to maintain the standard of living established during the marriage, considering the respective earning capacities of the spouses

the marketable skills of the supported spouse, the job market for those skills, the education or training needed to develop marketable skills, and the need for retraining or education to acquire other, more marketable skills or employment

the impairment of present or future earning capacity due to periods of unemployment during the marriage devoted to domestic duties

the contribution of the supported spouse to enable the other spouse to the attain education, training, a career or a professional license

the ability of the payer to make support payments taking into account his/her earning capacity, earned and unearned income, assets, and standard of living

the needs of each spouse based on the standard of living established during the marriage

the obligations and assets of each spouse

the duration of the marriage

the ability of the supported spouse to be employed without unduly interfering with child care responsibilities

the age and health of the respective spouses

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What factors can be used to determine the amount of alimony?


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Factors Amount Alimony Spousal Support

What factors can be used to determine the amount of alimony?

Some of the factors (which vary from state to state) used to determine the amount of alimony to be paid by one spouse to the other include:

the ability to maintain the standard of living established during the marriage, considering the respective earning capacities of the spouses

the marketable skills of the supported spouse, the job market for those skills, the education or training needed to develop marketable skills, and the need for retraining or education to acquire other, more marketable skills or employment

the impairment of present or future earning capacity due to periods of unemployment during the marriage devoted to domestic duties

the contribution of the supported spouse to enable the other spouse to the attain education, training, a career or a professional license

the ability of the payer to make support payments taking into account his/her earning capacity, earned and unearned income, assets, and standard of living

the needs of each spouse based on the standard of living established during the marriage

the obligations and assets of each spouse

the duration of the marriage

the ability of the supported spouse to be employed without unduly interfering with child care responsibilities

the age and health of the respective spouses

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What property will I lose in a Chapter 7 case?

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What property will I lose in a Chapter 7 case?

What you can lose and keep depends on your state’s law.

Generally, you might lose the following items of property:

(1) your second residence,

(2) recreational vehicles,

(3) your second car,

(4) stamp, coin and other collections and heirlooms,

(5) stocks and bond certificates,

(6) cash on hand (unless it comes from unemployment insurance),

(7) deposits of money (e.g., bank accounts, CDs, escrow accounts, money market accounts),

(8) property that you own but don�t have in your physical possession (e.g., security deposits),

(9) money you have a present right to receive at some future date (e.g., tax refunds, vacation pay, wages),

(10) your part of a marital estate,

(11) any inheritance, marital property settlement, or life insurance payment (to the extent not exempt) that you receive within 180 days after filing.

(Reviewed 11.14.08)

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What property can I keep in a Chapter 7 bankruptcy filing?

property filing consumer bankruptcy

What property can I keep in a Chapter 7 bankruptcy filing?

The dollar amounts and the specific items vary from state to state. Check with an attorney who specializes in bankruptcy.

Typical examples of property that you can keep are:

(1) Your residence, up to $20,200.

(2) A car, up to $3,225.

(3) Household goods and furnishings, clothing, appliances, books, pets or musical instruments up to $10,775, but no more than $525 per item.

(4) Tools of your trade, up to $2,025.

(5) The cash value of a life insurance policy, up to $10,775.

(6) Health aids.

(7) Your right to receive social security, unemployment, welfare, veteran’s benefits, disability, illness, alimony, support, crime victim’s reparations.

(8) To the extent necessary for your support, your right to receive life insurance for someone who was supporting you or to recover damages for such a person’s wrongful death.

(9) Your right to recover damages, other than for pain and suffering, for personal injury, up to $20,200.

Exemptions vary widely from one state to another, so you must check with an attorney who specializes in bankruptcy in your area. Web sites that attempt to list exemptions for every state can give you an approximate idea of the exemption picture, but they’re bound to be incomplete and out of date in many respects.

The above categories and dollar limits are the ones provided by federal law in states that allow you to choose between the federal exemptions and exemptions available under state law. About 34 states don’t let you choose. The dollar amounts of the federal exemptions are automatically adjusted upwards every three years; these are the figures effective for cases filed on or after April 1, 2007.

If a married couple files a joint petition (the filing of a single petition by an individual and the individual’s spouse), each spouse is entitled to his or her own exemptions. In most cases, that fact means that the amounts are doubled.

(Reviewed 11.14.08)

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What is the difference between a temporary restraining order and a restraining order after hearing?


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Restraining Order04 Domestic Violence

What is the difference between a temporary restraining order and a restraining order after hearing?

The terminology used differs from state to state – restraining orders and protective orders are examples of orders issued by a court restraining the conduct of a person and protecting a victim from the activities of an abusive person.

A “Temporary Restraining Order” is ordinarily issued after an “ex parte appearance” (an appearance in court by one party without the other being present). The Temporary Restraining Order is an order of the court that states that a person is to refrain from particular acts and to stay away from particular places.

A Temporary Restraining Order becomes effective only once it has been served on the restrained person (so s/he has notice and can seek an opportunity to be heard). In addition to the Temporary Restraining Order, an “Order to Show Cause” hearing is scheduled so that both parties will have the opportunity to explain to the court the reasons why a more “permanent” restraining order should or should not be issued.

Temporary Restraining Orders usually can be issued the same day they are requested and remain in effect until the scheduled hearing on the Order to Show Cause. The Order to Show Cause hearing is typically scheduled to occur within 15 or 20 days.

Once the Temporary Restraining Order and Order to Show Cause have been served on the person to be restrained, a hearing can be held to determine whether there is sufficient cause for a court to issue a more “permanent” restraining order. Based upon the evidence presented at this hearing, a court can order the restrained person from engaging in certain acts and from being in certain places (such as the victims’ residence and place or employment). After a hearing, a Restraining Order can remain in effect for a period of time, even several years. This Restraining Order After Hearing can also be renewed for additional periods of time upon application by the protected person, and its duration may become permanent.

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Shoulder Pain Pump Litigation: What’s Happening Now & Predictions For The Future

Shoulder Pain Pump Litigation Defective Products

Shoulder Pain Pump Litigation: What’s Happening Now & Predictions For The Future

Shoulder pain pump litigation is heating up as more and more information is discovered about the links between pain pumps used in shoulder surgery and the painful condition known as PAGCL, or Postarthroscopic glenohumeral chondrolysis. We asked an attorney who’s following the litigation to tell us what’s happening now and to give us his predictions for the future.
California Attorney Jeff Milman
Jeff Milman, a California pain pump attorney whose practice focuses in the areas of personal injury and medical malpractice, provided us with the following information on what’s happening with pain pump litigation now and what he believes will happen down the road. Here’s what he told us:
What’s happening now?
Hundreds of lawsuits filed. Milman says that several hundred lawsuits have been filed against pain pump manufacturers. He explained, “There was an attempt to create a federal MDL [multi-district litigation], but that failed. At that time, there were not that many cases filed. There are cases not only filed in federal court across the country, but also in state court – and there may be an attempt later on to reintroduce an MDL. I know, for example, in Orange County California, there’s half a dozen cases filed with local Superior Court.”
Lawsuits in discovery phase. Most of the lawsuits are currently in the discovery phase, according to Milman, which basically means that both sides are collecting information from the othler. He explained, “The [lawsuits] in federal court are going at a different speed than the state court cases. The state court cases are in the discovery phase right now. Some are a little farther along than others. What has happened is if you have a number of cases against the same parties, a particular judge may be assigned to be the coordinating judge.”
Predictions for the future
Initial trials will show what cases are worth. Milman told us that initial pain pump trials will set the stage for other cases. He said, “I think what’s going to happen is that you’ll see a few trials across the country that will flush out what juries think about the arguments on both sides – which will give everyone an idea of the amounts that these cases are worth. After that, there should be either a large group of cases that settle or are dismissed. I think it’s too early to determine everything, but there has to be a few bellwether cases.”
Recoverable damages. There are several types of damages might be recoverable to those who have contracted chondrolysis from a pain pump. Milman told us, “Well, you’re dealing with pain and suffering and ongoing lifelong medical care. Depending on the person’s employment, you also may be dealing with either a short or long-term employment loss. Additionally, a spouse may have a claim for loss of consortium.”
Experts that may be used. In order to prove damages in these cases, a variety of experts might be needed. According to Milman, “You’re definitely going to need an orthopedic surgeon who is familiar with pain pumps and when they should and shouldn’t be used. You will probably also need a medical products engineer who designs products like this. You may need a warnings expert to determine whether the warnings were proper and effective as well as a host of experts on the issue of damages. You’ll also need an economist, maybe a life care planner, maybe a doctor to set forth the future medical care needs and a surgeon. Additionally, a radiologist is needed to interpret MRI post operative findings.”
To speak with an attorney involved in the pain pump litigation, click here.

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