It cannot be done, but I suggest reading Shouldn’t you be able to discharge your student loans in a bankruptcy? that I found through The e-Legal Lawyer Blog. Anyone thinking of taking out a student loan needs to think about this.
The following is from Berger Legal, P.C. Employment Law Ledger's Responding to Debt Collection:
• Respond in a timely manner to any demand letters you receive;
• Dispute in writing any debt that you believe is erroneous;
• If you can't pay a bill in full, pay as much as you can;
• Contact the creditor and try to arrange a payment plan that you can afford; and
• Contact counsel as soon as possible if you receive any 'final demands', threats of litigation or are sued."
If you are selling or buying a business opportunity, take a look at FR Doc E8-13899:
"SUMMARY: In a Federal Register notice published on March 26, 2008,\1\ the FTC requested comment on its Revised Notice of Proposed Rulemaking (``RNPR'' or ``Notice'') in connection with the Business Opportunity Rule. The Notice stated that comments must be submitted on or before May 27, 2008, and that rebuttal comments must be submitted on or before June 16, 2008. In response to a request to extend the rebuttal comment period received on June 5, 2008, the Commission has extended the rebuttal comment period for an additional 15 days."
Everyone needs to keep track of their credit reports. I think freecreditreport.com has done a great job of getting this point across (my step-kids can sign the commercial's song). I offer another site to get a free credit report: AnnualCreditReport:
"This central site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion."Not that I am advocating for this site, just the need to get a copy and checking it for errors.
Who needs evidence? On Tuesday, The Indiana Lawyer published Court: Evidence needed to enforce CID. You will have to take a look at my post, See Litigation: Indiana Jurisdiction Over Out of State Companies, to get the full scope of the interest here. The Attorney General seems to have problems with its civil investigative demand (CID) but I am relying on the Indiana Lawyer on this one:
The Indiana Attorney General must provide at least a verified petition to a court to enforce a civil investigative demand and show the demand is proper, the Indiana Supreme Court ruled today.
In Nu-Sash of Indianapolis, Inc. d/b/a McKee Sunroom Designs v. Steve Carter, Indiana Attorney General, and Liberty Publishing, Inc. d/b/a Booster Club Productions , No. 49S02-0801-CV-16, Nu-Sash appealed a trial court order that the company respond within 10 days to a civil investigative demand (CID) issued by Attorney General Steve Carter regarding consumer complaints. At the hearing on the petition, the attorney general did not present any evidence to show why the demand is proper under Indiana Code Sections 4-6-3-1 through 6. The Indiana Court of Appeals affirmed the trial court didn't abuse its discretion because the attorney general met the statutory requirements for issuing a CID.
I cannot help but wonder if legislation like this reported in the Lancaster Eagle Gazette Ohio Senate Passes Pre-Need Funeral Consumer Protection Act is not related to the Nelms/Memory Gardens case here in Indiana:
"Under Senate Bill 196, increased consumer disclosure is required when an individual purchases pre-need funeral services, including: How it is funded; revocation rights; under what circumstances a consumer can transfer pre-need arrangements to another funeral home; that the consumer is entitled to receive price information in accordance with the Federal Trade Commission Funeral Rule; and that the insurance company or trustee that receives monies pursuant to a pre-need funeral contract is required to notify the consumer in writing when monies are received."
When I saw the title Eco-Funerals - Green to the Grave at the Toronto Estate Law Blog, I knew I had to read it. I heard of these on NPR several years back but I did not recall any mention of Canada, only of England and Arizona (if I recall correctly). What are they? This is a good description.
So what exactly makes a funeral eco-friendly? Green funerals do not embalm bodies with chemical preservatives, but rather dress them in clothes made from natural fibers and place them in cardboard coffins. Although they are more challenging to handle (especially when they are wet), they biodegrade within 3 months. Trees or shrubs are often used to mark individual plots, rather than marble tombstones, as marble is not a renewable resource. Irrigation and pesticides are not used.If you do read the original post, remember that the Indiana cemetery may not be able to accommodate this sort of burial.
I noticed Cemetery trust money should go to a third party from The Grand Rapids (MI) Press and realized I had not followed up on More Fall Out From the Nelms/Memory Gardens Case. HB 1026 did become law is now effective according to the Indiana Bill Info site.
For those buying or leasing goods from another to start a business, take a look at Indiana's Business Opportunity Transactions Act. The statute came to my attention when I found online a complaint filed by Indiana's Attorney General. The complaint is to be found here.
I have taken the liberty of quoting the most pertinent parts of the definition for "Business opportunity":
Businesses can face felony charges, a civil suit, an action by the Attorney General or all of the above.(1) involves the sale or lease or offer to sell or lease any goods or services to an investor that are to be used by the investor in beginning or operating a business;
(2) involves an initial payment by the investor of more than five hundred dollars ($500) and an initial cash payment of less than fifty thousand dollars ($50,000); and
(3) involves a solicitation of investors in which the seller represents that:(A) the investor may or will earn an amount in excess of the initial payment as a result of the investment;
(B) a market exists for any goods to be made or services to be rendered by the investor;
(C) the seller may buy from the investor any goods to be made or services to be rendered by the investor;
(D) the seller or a person referred by the seller to the investor may or will sell, lease, or distribute the goods made or services rendered by the investor; or
(E) the seller may or will pay to the investor the difference between the initial payment and the investor's earnings from the investment.
You get sued for money owed. What do you do next?
Answering that question depends on a few things:
"Thousands of executives received e-mails on Monday purporting to be federal court subpoenas but which appear to be part of a 'phishing' scam to capture sensitive data."This sounds like something that may be limited to a certain level of business and individual but it is not a good idea to underestimate the kind of people behind this kind of scam.
Indiana Commercial Foreclosure Law posted Indiana Sheriff's Sales - Local Rules, Customs and Practices Control which provides some good information about sheriff's sales and links to online sources:
Although the Indiana Code covers the fundamentals of the sheriff's sale process, the specific rules and procedures vary by county. I presented at a foreclosure-related seminar last month, and one of my co-presenters accurately stated, in essence, that there are 92 counties in Indiana and therefore 92 different sets of rules applicable to sheriff's sales. My advice is to call or visit the local civil sheriff's office to confirm the hoops through which you must jump, and when, to start and finish a successful sheriff's saleWith Indiana foreclosures still continuing at a good pace, I suspect this area is one that we all need more about.
The Funeral Consumers Alliance site has information The FTC Funeral Rule. This is something every consumer ought to read. Why? The FCA says it quite well:
"The Funeral Rule, enforced by the FTC, makes it possible for you to choose only those goods and services you want or need and to pay only for those you select, whether you are making arrangements when a death occurs or in advance. The Rule allows you to compare prices among funeral homes, and makes it possible for you to select the funeral arrangements you want at the home you use. (The Rule does not apply to third-party sellers, such as casket and monument dealers, or to cemeteries that lack an on-site funeral home.)"Funeral Consumers Alliance has chapters in Bloomington and Valparaiso.
I do not know much about Truthful Lending dot Com but so I offer its Mortgage, Refinance Advice without any endorsement:
"Irvine, California - At Truthful Lending dot Com we believe that the more educated you are about the mortgage and refinance process, the more likely you are to make the best decision. That's why we have a library of mortgage and refinance articles for you to read so that there are no surprises during the loan process and so that you can protect yourself against unscrupulous mortgage and refinance practices."
Having seen signs advertising this service in Indiana, I thought Payday Loan Foes Aim at Car-Title Loans might have some interest.
"For years payday lenders have been the bad guy in the predatory lending debate while their close cousin, car title lenders, have cruised along unnoticed - and perhaps more disturbing for some - unregulated in several states. Many efforts to regulate the industry have failed as the lenders pour hundreds of thousands of dollars into legislative campaigns."
***Here's how the loans usually work: A borrower gives the title to his vehicle and a copy of its keys to a lender in exchange for a loan up to about half of the car's wholesale value. The borrower agrees to repay the loan plus triple-digit annual interest and other fees and often must pay back the loan in a month or two. If the borrower falls behind, he could lose his car.
There is no nationwide data on the industry. Because the lenders are unregulated in several states, officials have no way of keeping track of the loans.
For those following this blog, I am playing catch up after a protracted illness. Which is why I am combining what might otherwise be two separate posts. In the past week, developments occurred in the General Assembly and with the Memory Gardens receivership.
The Indianapolis Star reports on new legislation concerning cemetery trusts. In Bill seeks to protect cemetery trusts, The Star has the following sidebar:
The reporting on the Memory Garden receivership came from WISH TV 8. The report, Testimony shows company in difficult position, millions lost has some interesting things to say about the running and powers of a receivership (if even only seen obliquely and partially).Cemetery bill
"JOHNSON COUNTY, Ind. (Johnson County Daily Journal) - A cemetery and funeral home managing company was struggling to make ends meet and could be short as much as $24.5 million in trust fund money."
Less than two months ago, Memory Gardens Management Corp. didn't have enough money coming in to pay all its bills, said Lynn Gray, who was appointed to oversee the company's finances and management.
Gray cut about $1.5 million out of the yearly budget, including projects the business could do without and the salary, benefits and vehicles of the company's owner and a former manager of a funeral home and cemetery the company operates on State Road 135.
Now, the company, which has a staff of more than 180, can pay its weekly bills, she said.
But concern remains over the future, such as what Gray believes is a shortage in the company's trust funds and larger bills, such as for caskets or other services and merchandise, which eventually need to be paid.
Gray testified in a hearing Monday about her work as court-appointed receiver of Memory Gardens, which includes Forest Lawn Memory Gardens and Funeral Home.
***
The hearing that began Monday will determine whether Gray should stay in her role or whether those responsibilities should be turned back over to the company.
She testified that turning the company back over to Nelms could harm customer confidence in the business, which includes cemeteries and funeral homes in Indiana, Michigan and Ohio.
There also are other issues that need to be investigated, Gray said.
One of the main issues is whether the trust funds have the amount of money required by law.
Not a lot of good news and the linked article's title pretty much says it all.
Bankruptcy Makes Gift Cards Worthless: "As more retailers file for bankruptcy or go out of business, more than $75 million in gift cards are at risk of becoming worthless pieces of plastic this year."
Before 2005, I had a consumer bankruptcy practice. I learned to dislike the consumer counseling agencies for promising much and delivering on nothing. Which is why I read The New York Times' Debt Relief Can Cause Headaches of Its Own with interest and quote it at length below.
While I no longer practice on the consumer side of bankruptcy law, I give you this advice: if you have the problems discussed below you need to talk to a bankruptcy attorney to get an accurate estimate of your problems and possible solutions and you need to do it now instead of letting the problem fester.
"What can borrowers do to extricate themselves?"If belt-tightening suffices, one option is a debt management repayment plan in which interest rates, but not balances, are reduced.
Ronald J. Mann, a law professor at Columbia University and a credit expert, describes credit industry practices as intended to enslave borrowers in a “sweat box.” He recommends a Chapter 7 bankruptcy that wipes out most credit card debt.
Many consumers, however, are loath to file for bankruptcy protection, said Mark S. Zuckerberg, a bankruptcy lawyer in Indianapolis. And others may find that they cannot qualify for a Chapter 7.
Then there is debt settlement, when a debtor and creditor agree that payment of a negotiated, reduced balance will be payment in full. Debt settlement generally works best when consumers can offer a lump sum, the experts said. But consumers may face taxes on the amount the creditor has forgiven.
“Done correctly, it can absolutely help people,” said Cyndi Geerdes, an associate professor at the University of Illinois law school who also runs a consumer debt clinic.
Consumers can arrange debt settlement themselves, and many Web sites offer advice. Consumers can also hire a lawyer or use debt settlement companies, many of which advertise online and on television. The experts agree, however, that “buyer beware” is the best advice when considering debt settlement companies.
***
Debt settlement companies are regulated by state attorneys general and the Federal Trade Commission, but they are rarely prosecuted. To improve regulation of this interstate business, the Uniform Law Commission, sponsored by state governments and based in Chicago, is promoting a model law that covers credit counseling and debt management companies. It was in force in four states last year, and an estimated five state legislatures will vote on it this year, said Michael Kerr, the commission’s legislative director.
Indiana remains a hotbed for mortgage foreclosures. If you are facing this problem, take a look at Indiana Foreclosure Prevention Network (IFPN)
The Indiana Foreclosure Prevention Network (IFPN) is a public-private partnership of community-based organizations, government agencies, lenders, realtors, and trade associations that has devised a multi-tiered solution to Indiana’s foreclosure problem. This statewide initiative includes a targeted public awareness campaign, a telephone helpline, an educational website, and a network of local trusted advisors.
Indiana has no state law comparable to the federal Fair Debt Collections Practice Act (FDCPA). Which means if you want to sue a collection agency in Indiana, then you need to know about the FDCPA. The Federal Trade Commission has a FAQ (Frequently Asked Questions) here (which is in PDF format). If you think you have a case in Indiana take a look at this pamphlet and then give me a call.
