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Many people (understandably) shy away from the bankruptcy process because they are under the impression that filing for bankruptcy will tarnish their credit forever. This is a common myth, so if you’re under that impression, you’re certainly not alone. Thankfully, this is – indeed – a myth. When an individual or a married couple files for bankruptcy, their credit does take a significant hit...

According to an estate planning attorney ignoring the possibility of death does not keep it from happening, and yet so few couples take the time to prepare for unexpected tragedies effectively. If and when the unthinkable does happen, a heartbroken spouse must then sort through paperwork, track down information, or struggle with even the most basic end-of-life decisions. Do not let this happen...

LEMA Fall 2022 Employment-Mahdavi

Hollywood. Railroads. Mining. You may have thought blacklisting was a forsaken part of America’s past, but if you’re reading this, you may be a victim of this devastating tool. Used by some of the largest and most influential institutions, blacklisting is alive and well, now cloaked in new terms and greater secrecy. Birth of the Subprime Market. 2008 is an infamous year that still engenders...

You see it in movies — an image of slick stock broker in a basement boiler room in Manhattan, Brooklyn or Staten Island cold calling  customers.  The pitch is standardized.  The broker has a secret stock or IPO just for you (the innocent investor), but the catch is you have to act now because the opportunity won’t last and there is a limit to how much you can buy.    The broker gains your...

Dealers must be careful about violations of the Fair Labor Standards Act. These actions can be filed either as individual actions or as group actions in federal court, and they can be lucrative for plaintiffs’ law firms. In fact, there are law firms springing up around the country that do nothing but FLSA work on behalf of employees. Here are three questions regularly asked with respect to...

Financial professionals often use certifications on business cards, internet portals, and the like to support their expertise. Whether it is CFP (Certified Financial Planner), CSNA (Certified Special Needs Advisor), or CSP (Certified Succession Planner), the abbreviations suggest a course of study, a test, or a series of tests successfully passed.  But is this financial alphabet soup of...

On June 7, 2012, the FTC announced that it had agreed on terms of a consent order with a Georgia Toyota dealer stemming from the dealer’s failure to maintain adequate control of its customer information as required by the FTC Safeguards Rule.  The FTC charged that the dealer had violated its Safeguards obligations by having peer-to-peer (P2P) software onto its computer system. The effect of...

Have you wondered why industry publications are writing with increasing frequency about the expected demise of finance “markup”?  The answer is simple – proponents of dealer flat fees are working to sell the concept that “markups” are evil to regulators like the federal Consumer Financial Protection Bureau and the Federal Trade Commission with the hope that they will take action.  So what...

Dealers: You must take audits very seriously. From reports around the country, franchisors have been increasing their audit activity. Of special concern are vehicle exports – vehicles that you have sold that wind up in another country. Some states have taken steps to give you rights in connection with export audits. They have required that in any export case, a franchisor must show that the...