The Truth In Savings Act And Consumer Protection

The Truth In Savings Act(TISA) was implemented in December 1991 under the Federal Deposit Insurance Corporation Improvement Act and was designed to protect consumers as well as encourage competition between financial services providers in order to provide more fair and equitable services to consumers.

The Act only applies to individuals and not businesses or companies opening new accounts. Basically, the Act makes provision for open and honest revelation of all fees, interest rates, restrictions and other charges related to opening a savings account.

First and foremost, this allows consumers to compare different offerings from various financial institutions in order to make an informed choice regarding which provider will give them the best deal and meet with their requirements.

The Act has also gone a long way to ensuring that banks live up to their promises and that there are no hidden factors that may be revealed at a later that could impact an individual negatively. In other words, banks and other financial institutions can no longer market their products using misdirection or false advertising.

If a bank advertises a savings account as “Free” for example, they cannot then implement any banking charges or admin fees at any time. If they do this, they are in contravention of the Truth In Savings Act and legal recourse can be taken against them, you can contact Advocate Law Firm is you feel that this the case here: Normally this recourse would result in an individual being able to reclaim any loss of funds as well as fines and other penalties for the banking institution.

It is important for consumers to understand their rights under the Act and make use of the provisions in order to receive the greatest benefit. Although it is up to the bank to be fair, transparent and honest, it is up to the consumer to investigate their options and use the protection that is provided.

The Many Different Types Of Undisclosed Fees

Have you ever gotten a bill that was much higher than you expected it to be? If this has happened to you, you probably have some familiarity with undisclosed fees. When someone is advertising a product or a service, they don’t necessarily have to mention all fees up front. They can charge undisclosed fees later on.

There are a few types of undisclosed fees that are very common.

Sales Tax

If you’re ordering something online, you may not see the sales tax until after you’ve added the item to your cart. Sales tax could catch you off guard when shopping at brick and mortar stores as well. Tax varies based on state laws. Make sure you’re familiar with the taxes that you’ll have to pay on a purchase. Keep this in mind when you are visiting out of town restaurants as well, sometimes you might be tipping your server way too much or way too little if you are used to just “doubling the tax”

Shipping Fees

If you’re having an item shipped to you, shipping may not be free. If you’re calculating the cost of an online purchase, you should try to see what shipping will cost you.

Other Additional Fees

In many cases, undisclosed fees cover the cost of an additional service. If you are paying a driver to take you somewhere, you may have to pay for their gas as well. If a service worker has to purchase a part, you may have to cover the cost of that part.

If you want to avoid undisclosed fees, you need to determine all the costs that you are responsible for. When someone quotes you a price, you should find out what that price includes.

If you’re paying for something, you deserve to know exactly how much you are going to be spending. Try to learn more about undisclosed fees. Once you’ve familiar with the different types of fees out there, you’ll be able to figure out when you’ll have to pay them.

Should A Lawyer Offer Free Consultations?

If you need to use the services of a lawyer, you may be able to get a free consultation. Why should a lawyer offer a free one? There are a couple of reasons why and you will learn more about that below.

When you have a case that a lawyer knows they can win, they will probably give you a free consultation. If there is a way for them to make more money by taking on your case, they don’t mind offering a free consultation to convince you to use them for your legal needs. So, if you think you have a case that is worth a lot of money for both you and the lawyer, then they probably will work with you but you have to make sure that you have your ducks in a row before you contact them. If they feel that your case is not worth their time, they will still offer you a free consultation but elect not to take on your case.

Lawyers have to pay a lot of money to go to school and to operate a firm in the area. They may not want to work with you if they understand that your case is a little difficult to win and will not be beneficial to them. For the most part, you can expect to get services like consultations for free or cheap before you work with the lawyer as long as they understand that you are not trying to just win something that is a long shot.

Should lawyers offer a free consultation? The answer depends on what kind of case you have to bring to them and whether or not it includes compensation. Some cases are better than others at getting results so it really depends on whether the lawyer thinks they will have something on their hands that is worth their time or not. Law firms like not offer free consultations because they are too busy working to not make money from the get-go.

What’s A Statutory Fee?

If you’re going to be hiring a lawyer, you’ll want to be familiar with all of the fees that you will have to pay. You may want to learn more about statutory fees. This is a legal fee that many people have to cover.

What is a statutory fee? In most cases, this is a fee that is set and approved by a court or a statue. You will be responsible for paying this fee once it is approved.

These kinds of fees don’t appear in all types of cases. These fees are commonly associated with bankruptcy and probate cases. However, these fees can appear in other types of proceedings as well.

What can you expect to pay? In most cases, these fees are location specific. It’s common for these fees to be set by your county. You may want to call your local courthouse if you have any questions about these fees.

If you are going to be responsible for a statutory fee, you won’t have to deal with any extra markup. You will simply have to cover the fees that are mandated in your county. You’ll know exactly what you have to pay in advance.

In most cases, you won’t have to pay this fee immediately. Instead, you will be billed for this fee. You will be able to cover the statutory fee at a later date. If your organization is involved in a court case, the fee will be passed along to them.

If you don’t know what a statutory fee, now is the time for you to learn more about it. If you’re going to be responsible for paying this fee, you’re going to want to know why you are paying it. The information above has provided you with the essentials. From here, it’s up to you to learn more.

Why Do Attorneys Charge a Retainer Fee?

If you are in need of hiring attorneys, you might be wondering what is a retainer fee and why do you need to pay it. Understanding this will help you know the reasoning behind it and the importance of taking care of this legal matter quickly.

When you hire a lawyer, they will want to have an agreement about them representing you in particular legal matters. The specifics will depend on many factors, including the type of law that you are dealing with. In many cases, the attorney will want you to pay a retainer fee when you first make the agreement.

The reason for this is that it secures the contract and ensures that you have paid for the initial services rendered. Your contract will state more about the terms of the money that you will have to pay in the future. For instance, you might be put on some type of payment plan where you will make monthly installments. However, you should not assume that will be the case.

Your retainer fees secure that particular law firm as your legal representative. This means that the other party involved cannot obtain representation from them. For instance, if you are getting a divorce, once you have paid the retainer fee to the lawyer of your choice, your spouse cannot hire that attorney. However, that person is still up for grabs until you have taken care of the matter.

You should pay the retainer fee for your attorney once you have decided who the best representative is for your case based on your research. This will ensure that you have the appropriate representation for yourself during the legal proceedings that you are facing. This is a necessary part of the process in many legal situations you might encounter.

What’s A Licensing Agreement?

While licensing agreements are common, they’re not something that everyone is familiar with. A lot of people don’t understand what licensing agreements are, or are confused about how they work.

In a nutshell, a licensing agreement is a legally binding contract between a licensor and the licensee. A licensor can license out a brand name, a trademark, technology, or something else they have the license to. Once a licensing agreement has been formed, the licensee is licensed to use something that the licensor has the rights to.

While that sounds simple, licensing agreements can easily become complex. The licensee doesn’t necessarily have rights to use the license in any way that they want. The licensor typically has control over that.

For example, a licensee may want to license a famous brand name. A licensor could grant them that license, but may only allow them to use the name on a single product. If the licensee uses the name on unauthorized products, they would be in violation of their licensing agreement.

When a licensing agreement is formed, both parties have to do due diligence. The licensor needs to research the licensee. They need to make sure that they can entrust their license to them. The licensee needs to research the licensor. They must ensure that the license they are paying for has value. They should also confirm that the licensor has the rights to license whatever they are licensing.

If you are interested in entering into a licensing agreement, you’ll need to work with an attorney. A lawyer can create an agreement that is beneficial to both parties.

Now that you know more about licensing agreements and how they work, you’re ready to start talking to lawyers. Find a law firm that specializes in licensing agreements and see if they can help you.

Why You Should Create an Estate Plan

Are you taking care of your financial health? Do you have an estate plan in place, or do you avoid these kinds of topics? The reality is that most people need to have an estate plan in order to ensure that their finances are handled in the correct way. If you don’t get one, you will leave troubles for your family when you pass away.

One of the reasons that people don’t have an estate plan is because they think that they are too young to need one. However, planning ahead is always a good idea, especially if you have read through Trump’s Executive Orders. While thinking about your own death might be uncomfortable, accidents and misfortunes happen every day. Although you can take care of your health and avoid certain dangerous situations, you cannot control everything. You should make sure that your family is well taken care of in the event that an unexpected illness or accident occurs in your life.

In addition to age, another reason that folks don’t bother with creating an estate plan is because they are single or don’t have any children. However, if you fall into either of these categories, you still need to be sure that your assets are properly dispersed and that your final expenses are taken care of. Otherwise, the courts will have to decide these matters, which will take up money and unnecessary hassles for everyone who is involved.

You should speak to an attorney who specializes in these matters to make sure that you have handled all of the paperwork correctly. This includes things like making sure that the right folks have access to your plans at the appropriate point in time. You are sure to sleep better at night once you have taken care of this important legal matter and related ones.

What Happens To Your Money After You Have Died?

One of the most important documents that you can have done in your life is your will. This is an official document that will designate your belongings to people in your family. You can also designate some of this to close friends, businesses, or institutions. What you have in this document is what must be abided by in a court of law. Most of the time, a lawyer will simply read the will and procedures will be done to transfer all of the belongings to the appropriate people. If you do not have a will, then it is possible that you may be facing a very difficult situation which may involve lawsuits and litigations that could last for years.

What Happens When You Die Intestate?

This is a term that is used when a person does not have a will and they die with belongings that need to be distributed. There are laws that must be abided by called intestacy laws. These laws must be abided by in the absence of a will and will be used by a judge in order to properly distribute property of the decedent. This could be anything from securities, bank accounts, real estate, and any of the other assets that they may have. Real estate that may not be in the state where they were residing must be handled by the laws of that state.

The Laws Of Intestate Succession

Each state is going to have completely different laws in regard to what happens to the assets. For example, if the person was single with no children, the parents of the decedent will receive the entire estate if alive, and if they are not, it will be divided up among your siblings. This would then go to relatives on your mother’s side and father’s side if none of the other relatives are available. This will also be divided up differently if the decedent was single with children, married with children, or if they were married and had no children at all.

By contacting a lawyer that deals with these situations, you can talk to them about how assets can be divided if you have recently had a parent die without a will. If you do have parents that are living, or if you would like to do a will to avoid intestate legal problems, you should have one done as soon as possible regardless of your age or the state of your health.

How To Know If You Need A Bankruptcy Lawyer

If you are going to file bankruptcy, it is likely the result of having too many bills. You may have gone through a rough divorce, or you may have lost your job, and you are not able to make your payments. This happens to people from time to time, and when it does, they need to do something fast. In order to get the creditors off of your back, you will need to find a bankruptcy attorney. Many people try to do this on their own, but it can be a complex process. Here is a quick overview of what you can do if you would like to find a bankruptcy lawyer.

Why Would You Need A Lawyer For A Bankruptcy?

The main reason for needing one of these lawyers is that the process of going through a bankruptcy is sometimes difficult. You will have to fill out all of the paperwork, file it, and set court dates to complete the process. It also depends if you are filing chapter 7 bankruptcy, or if you are filing chapter 13 with the intent of re-consolidating your debt. Both of these require different forms of paperwork, and court dates that these lawyers can do for you. They simply make the process easier, and in the span of a few weeks or months, you will have all of this behind you.

How Do You Find The Best Bankruptcy Attorney In Your Area?

To find the best bankruptcy attorney, it’s a simple matter of searching for all of the ones that are currently in your area. For example, you could search for Chapter 7 bankruptcy attorney, or simply a bankruptcy law firm, and you will see all of the ones that are currently offering these services. You will want to interview each one by setting an appointment through their website, presenting your information, and make a determination as to which one will be the right choice. It just depends on how you feel about them, and also the amount of money they are going to charge to complete this process.

What Is A Chapter 13 Bankruptcy?

The chapter 13 bankruptcy is one that provides for the adjustment of debts of any individual with a regular income. Basically speaking, a chapter 13, which is also known as the wage earner’s plan, allows the debtor to keep the property and then pay off their debts over a period of time that is usually anywhere from three to five years.

Under this particular chapter, the debtors will propose a specific repayment plan for making installments to the creditors over a designated time. If the current monthly income of the debtor happens to be less than whatever the applicable state median is, the plan will be set for a three-year repayment, unless the court makes provisions for a longer payoff period. By the same token, if the monthly income of the debtor is greater than the state median, the plan will usually be set for repayment over five years. There is no provision for any payments lasting a period of anything longer than five years nor are the creditors able to continue on with their collection efforts during this time.

You should know that a chapter 13 bankruptcy is not going to be a perfect fit for everyone. Chapter 13 will require that you use your income as a way to repay some, or even all, of your debt. You will need to prove to the courts that you are able to afford to meet up with the designated payment obligations. If it seems as though your income is too low, you may not be able to file for the Chapter 13.

After the repayment plan is completed, all of your remaining debts that seem to be eligible for discharge can be completely wiped out. Prior to getting the discharge, you have to be able to show the court that you are current on all of your financial obligations.