• Credit Bureau Changes to Take Effect July 1st

    Equifax, Experian, and TransUnion, the nation’s three largest credit reporting agencies, announced back in March of this year that beginning July 1 they will no longer include tax liens and civil judgments on credit reports. (USA Today Article) Typically, this information has appeared on credit reports under a separate section from those sections listing active debts.

    Nick Gajewski/ Bond and Botes- 66 readers -
  • Payday Loan Amendment Bill Introduced to Alabama Legislature to Cap Interest at 36%

    According to a recent article by the Montgomery Advertiser, 45 Alabama legislators are pushing a bill that would give the power to the people of Alabama to vote on whether payday loan interest rates in Alabama should be capped at 36% Interest Rates Out of Control A bi-partisan group of legislators and payday reform advocacy groups gathered at the Alabama State House last Tuesday to introduce the.

    Grant Mcnutt/ Bond and Botes- 27 readers -
  • FCC Cracks Down on Robo-Calls

    The Federal Communications Commission (FCC) has proposed an $82 million fine against a man who has allegedly made millions of automated sales calls. The FCC has accused Philip Roesel and Best Insurance Contracts dba Wilmington Insurance Quotes, of violating the Truth in Caller ID act. According to the FCC, Roesel and his company made 21 million automated calls, also known as ro ...

    Kathryn Davis/ Bond and Botes- 27 readers -
  • XCOR Aerospace Files for Bankruptcy

    XCOR Aerospace, an innovator in the aerospace industry, has filed for bankruptcy. XCOR is a private spaceflight and rocket engine development company based at the Mojave Air and Space Port in Mojave, California, and in Midland, Texas. There are also locations in Amsterdam and Hong Kong. XCOR is best known in the aerospace industry for a suborbital space plane that was announced in 2008.

    Kathryn Davis/ Bond and Botes- 23 readers -
  • The Secret That Credit Card Companies Don’t Want You to Know!

    The secret that credit card companies don’t want you to know is that you don’t have to pay them in full! Oh really!? Have you heard this advertisement? I was driving to the office the other day and listening to the radio. For the umpteenth time, I heard this exact commercial. It says that there is a little known secret that the credit card companies don’t want you to know and i ...

    Amy Tanner/ Bond and Botes- 23 readers -
  • Credit Reporting Bureaus Are Changing Their Rules – A Win for Consumers

    With every passing year a person’s credit score becomes more central in basic decisions people face on a daily basis. Leases for housing, ability to obtain automobile or homeowner’s insurance and, yes, even employment are some of the areas that are now affected by your credit score. Your credit score is ultimately determined by what is reported in your credit file with the 3 ma ...

    Bond and Botes- 21 readers -
  • Episode 16 – Next Lawyer Up with Ron Sykstus featuring Jere Beasley

    This episode of the Next Lawyer Up podcast features attorney Jere Beasley. I can’t imagine a lawyer in the state of Alabama who doesn’t know the name of attorney Jere Beasley. In fact, it is probably the same way for at least 90% (if not all!) of the lawyers in the entire United States. Jere Beasley is that universally well-known and respected.

    Ron Sykstus/ Bond and Botes- 21 readers -
  • A Record Number of Americans Owe for their Automobile

    How many people do you know who can pay cash for a new car? I bet the answer is not many! The Federal Reserve Bank of New York recently released data showing that a record 107 million Americans owe on a car loan. As recently reported by CNN, that boils down to about 43% of the adult population. Just five years ago, in 2012, only 80 million Americans had auto loans.

    Amy Tanner/ Bond and Botes- 20 readers -
  • Famed O. J. Simpson Defense Lawyer F. Lee Bailey Files Bankruptcy

    The Bangor (Maine) Daily News recently reported that F. Lee Bailey has filed for bankruptcy in Maine. According to the news story, Mr. Bailey sought bankruptcy relief to resolve an outstanding federal tax debt from a dispute that ended his legal career. Reportedly, Mr. Bailey is a resident of the State of Maine, having moved there in 2010 and that is why he filed his case in that state. Mr.

    Ed Woods/ Bond and Botes- 20 readers -
  • Consumer Advocacy Groups Sounding the Alarm Over Unexpected Ambulance Bills

    Just how much do you think an ambulance ride to the hospital costs? Take a guess and then increase it by a lot. In a recent Washington Post article, Melissa Bailey delves into what is increasingly becoming a problem for consumers everywhere—the unexpected cost of routine ambulance trips. A common problem that I see with potential clients and those that I go on to represent is medical bills.

    Bond and Botes- 20 readers -
  • Debt Collectors Continue To Violate The Law

    Seventy-five percent of consumers said debt collectors ignored their requests to stop calling, according to a survey released by the Consumer Financial Protection Bureau, which detailed “troubling” practices in the multi billion-dollar industry. Consumers Still Regularly Harassed by Debt Collectors Consumers told the CFPB that they often felt threatened by debt collectors, that ...

    Cynthia Lawson/ Bond and Botes- 20 readers -
  • Older Americans Increasingly Impacted by Student Loan Debt

    Last year, economists at the New York Federal Reserve released an analysis showing that older Americans were significantly more in debt than in previous years. While this might not be that surprising given the aging population in the United States, a source of the debt might be less obvious: student loan debt. The analysis compares average debt per U.S. resident by age in 2003 and in 2015.

    Kathryn Davis/ Bond and Botes- 20 readers -
  • Wells Fargo Incentives Program Produced Bad Behavior

    Last fall, Wells Fargo admitted it had created over 2 million phony accounts as a result of an incentives program that rewarded employees who increased their sales numbers. Some employees who tried to report these wrong activities were retaliated against and fired. Wells Fargo says that they have now learned that some of these whistleblower reports do have merit.

    Gail Donaldson/ Bond and Botes- 19 readers -
  • Filing Taxes While in Bankruptcy

    As we finish the first month of the new year, tax season is starting to pick up. By now many people have gotten their W-2’s or other tax forms from 2016 and they’re ready to file for their 2016 income tax returns. If you’re in bankruptcy, or considering filing for bankruptcy, how will that affect your refund? First, it is important to know that the bankruptcy court has the aut ...

    Nick Gajewski/ Bond and Botes- 19 readers -
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