Credit, Debit, and Charge Cards

ou can use a credit card to buy things and pay for them over time. But remember, buying with credit is a loan — you have to pay the money back. And some issuers charge an annual fee for their cards. Some credit card issuers also provide “courtesy” checks to their customers. You can use these checks in place of your card, but they’re not a gift — they’re also a loan that you must pay back. And if you don’t pay your bill on time or in full when it’s  due, you will owe a finance charge — the dollar amount you pay to use credit. The finance charge depends in part on your outstanding balance and the annual percentage rate (APR).

Charge card — If you use a charge card, you must pay the balance in full each time you get your statement.

Debit card — This card allows you to make purchases in real-time by accessing the money in your checking or savings account electronically.

The Fine Print

When applying for credit cards, it’s important to shop around. Fees, interest rates, finance charges, and benefits can vary greatly. And, in some cases, credit cards might seem like great deals until you read the fine print and disclosures. When you’re trying to find the credit card that’s right for you, look at the:

Annual percentage rate (APR) — The APR is a measure of the cost of credit, expressed as a yearly interest rate. It must be disclosed before your account can be activated, and it must appear on your account statements. The card issuer also must disclose the “periodic rate” — the rate applied to your outstanding balance to figure the finance charge for each billing period. 

Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators — called indexes — change. Because the rate change is linked to the index’s performance, these plans are called “variable rate” programs. Rate changes raise or lower the finance charge on your account. If you’re considering a variable rate card, the issuer also must tell you that the rate may change and how the rate is determined.

Before you become obligated on the account, you also must receive information about any limits on how much and how often your rate may change.

Grace period — The grace period is the number of days you have to pay your bill in full without triggering a finance charge. For example, the credit card company may say that you have 25 days from the statement date, provided you paid your previous balance in full by the due date. The statement date is on the bill.

The grace period usually applies only to new purchases. Most credit cards do not give a grace period for cash advances and balance transfers. Instead, interest charges start right away. If your card includes a grace period, the issuer must mail your bill at least 14 days before the due date so you’ll have enough time to pay.

Annual fees — Many issuers charge annual membership or participation fees.Some card issuers assess the fee in monthly installments.

Transaction fees and other charges — Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee if you use the card — or if you don't.

Customer service — Customer service is something most people don’t consider, or appreciate, until there’s a problem. Look for a 24-hour toll-free telephone number.

Unauthorized charges — If your card is used without your permission, you can be held responsible for up to $50 per card. If you report the loss before the card is used, you can’t be held responsible for any unauthorized charges. To minimize your liability, report the loss as soon as possible. Some issuers have 24-hour toll-free telephone numbers to accept emergency information. It’s a good idea to follow-up with a letter to the issuer — include your account number, the date you noticed your card missing, and the date you reported the loss.Keep a record — in a safe place separate from your cards — of your account numbers, expiration dates, and the telephone numbers of each card issuer so you can report a loss quickly.

Study shows people tend to drive cars that resemble their own faces

People tend to buy cars whose grilles and headlights resemble their own faces, according to a new study by two Austrian researchers.

Many studies have been done to show that people see cars' fronts like human faces and assign them personalities based on these "faces." However, a new study by psychologists Stefan Stiegar and Martin Voracek of the University of Vienna takes things a step further and says that people also tend to buy cars that look like they do.

The study, titled "Not only dogs resemble their owners, cars do, too" and printed in the Swiss Journal of Psychology, was built around black-and-white photos of 30 people and their cars. The researchers made sure only to use cars that the owners had somehow selected themselves, rather than cars received as gifts, prizes or through inheritance.

"The average person can detect a physical similarity in the 'faces' of cars and their owners," summed up research psychologist Jesse Bering in his evaluation of the study.

The authors of the study controlled for the possibility that participants were working off of gender or status stereotypes by conducting the same test using photos of the car from the rear or side, as well as the front. Their findings showed that a participants' odds of choosing correctly were better-than-chance only when the image set included the cars' grilles.

Stiegar and Voracek tried one final test, too, based on the results of a recent study that showed people can match owners to their dogs. They showed participants image sets with a car and six dogs, and asked them to rank each dog "on the likelihood of its master being the owner of the car shown."

When the image set included the car's grille, again the odds were way better than chance. "Implied in these results is the startling fact most car owners are unwittingly purchasing cars that look like them," explains Bering. "To top it off, our dogs’ mug shots apparently bear an objective similarity to our cars’ 'faces' as well."

The study is the latest in a series that shows we tend to subconsciously treat their cars like people, and not just because we give them names and sometimes pamper them. In 2012, research showed car enthusiasts use the same part of the brain to remember cars' looks as they do human faces.

Lawyers who Practice Solo Value Freedom

More than half of the 29,000 active, practicing lawyers in Washington choose to practice on their own or in small firms of five or fewer.1 A core value for those lawyers who choose solo practice is freedom, or independence.

The freedom to do what you want, make your own decisions, set your own billable hours target, take only matters you want, and work only with clients you like; it is a big draw for the majority of solo practitioners.

Going solo also gives many lawyers the freedom from the pressure they experience when they are accountable to their partners. I know of a lawyer who, upon leaving a large firm and going out on his own, said, "I didn't realize that I would no longer be judged by others and not judge others myself." The freedom from no longer judging or being judged was a huge relief.

It's ironic that the freedom or independence that solos gain in many areas is offset by the limited amount of freedom (as in leisure) that results when going solo. Especially in the early years of going out on your own, the amount of leisure or time off is curtailed by the large amount of time required to do all the things necessary to manage and grow your practice.

The sense of satisfaction from practicing as a solo (or in a large firm) comes from being in alignment with your core or important values. Your values are not morals, but rather beliefs that are the foundation of what matters and is important to you.

Don't believe that having more money will make you happy. Money is not a value. It's what money can do for you - give you the ability to be more in alignment with your values, such as freedom, security, pleasure, beauty or adventure.

Living in alignment with your values is inherently fulfilling even though at times it may be difficult. You may experience discomfort in order to live in accordance with your core values; but ultimately you'll feel a sense of integrity or harmony within yourself when you align with your values. When you are not working or living in alignment with your values, you'll have a sense of dissatisfaction or toleration rather than fulfillment.

For example, not being honest with a client about something, because you're afraid they'll fire or not hire you, might have you feeling dissatisfied. To get back into alignment or harmony with yourself, you need to be honest with the client rather than worry about what they will think of the truth.

When you're having a difficult time making a decision about something important, it's often because you are stuck deciding between two important values. Choosing to stay late to get something done for a client might conflict with your desire to get home to your family. Staying late has you in alignment with values such as integrity, professionalism, service or compassion. Going home to your family has you in alignment with values such as freedom, connection to your family, love, fun or comfort

Both sets of values are compelling. Ranking your values on their level of importance helps you decide which values to be in alignment with. If you rank professionalism higher than fun, you'll find it easier to stay late for the client.

When you are in alignment with your values, things just feel right. It's difficult to work in accordance with your values if you don't know what your core values are.

If you're thinking of joining the ranks of solo practitioners, determine and evaluate your core values to help you make the decision. If you value freedom/independence more than you value the security or comfort that working in a large firm can give, you'll likely feel happier and more satisfied choosing a solo practice.

Irene Leonard has been a professional business coach for lawyers for over 14 years, after practicing law for 18 years. determine their values and find satisfaction in their law practices. She can be reached at 206-723-9900 or through her website, www.CoachingForChange.com. © 2012 Irene Leonard

1 WSBA April 12, 2012 Demographics Report.

http://www.coachingforchange.com/Solo-Lawyers-Value-Freedom.html

Trowers freezes pay for fee-earners and staff in wake of Brexit

Trowers & Hamlins has frozen pay for associates and business services staff as a result of uncertainty in the wake of Britain’s decision to leave the EU.

Staff and fee-earners were informed of the decision at the end of last month in an email from senior partner Jennie Gubbins.

It is understood that equity partners’ drawings and bonuses will go ahead as normal, while salaried partners received their annual pay rises in March this year.

Gubbins revealed pay reviews for everyone else had been put back for a second time following the Brexit vote and a final decision on when reviews would take place will be made at a management board meeting on 15 September.

In the internal email, which was leaked to blog Roll on Friday, Gubbins said the firm had “decided to put in place a number of precautions to ensure that the firm is better able to withstand any bumps there may be in the road ahead”.

She added: “While we can’t predict the future, I think we can safely say that uncertainty is likely to continue over the next few months until there is more clarity around the direction of negotiations for our withdrawal… Please be assured however that early indications enable me to be cautiously optimistic that we will not be too badly affected.”

Gubbins ended her message by asking fee-earners and staff to “please take every opportunity” to “reassure” clients in the Gulf and Far East that the “UK is open for business”.

Trowers saw a dramatic turnaround in its Middle East and Asia fortunes in the last financial year, with its non-UK financial results showing profit climbed by 1800 per cent to £1.9m. The growth signalled the firm’s international practice bouncing back from a devastating decline in 2014/15 when profit dropped 96 per cent from £1.25m to £100,000.

Trowers is the latest firm to freeze pay as a result of Brexit uncertainty. Addleshaw Goddard postponed pay reviews for all classes of partner and associates this month, and also put back equity partners’ autumn quarterly drawings until later this year.

Gowling WLG has also delayed its annual pay review for both lawyers and staff, with management promising the firm it will “confirm in the autumn” what the outcome of the review is. Any changes made to salaries as a result of the review will be backdated until 1 July.

Meanwhile Simmons & Simmons has begun making redundancies to its real estate team in London as a result of restrictions to the market following Brexit.

A spokesperson for Trowers declined to comment on the contents of the leaked email.

https://www.thelawyer.com

Jones Day joins DLA Piper on BHS administration

Jones Day has joined the growing number of law firms advising on the administration of failed retailer BHS.

The firm was drafted in by BHS administrator FRP Advisory and will assist it in examining the role of BHS’s directors in the months leading up to its collapse. The administrator was brought onboard at the request of the Pension Protection Fund in July to work alongside Duff & Phelps.

Jones Day investigations and civil litigation partner Sion Richards is leading the team for FRP.

Duff & Phelps was initially appointed the sole administrators to BHS in April. It is being advised by DLA Piper, with corporate insolvency partner Colin Ashford leading the team.

FRP Advisory will undertake investigatory work and inspect certain transactions and third partners involved with the BHS sale and collapse. Meanwhile Weil Gotshal & Manges UK restructuring head and former Jones Day partner Adam Plainer is representing the retailer in the administration.

The collapse of BHS was one of the most highly publicised retail closures in British history and followed its sale to Retail Acquisitions for £1 last year.

An inquiry into the sale and subsequent failure of the business was held by MPs last month, with the group concluding that company advisers were “all culpable” for BHS’s demise.

The inquiry saw Linklaters and Olswang give evidence on the role in the sale, having acted for former BHS owner Arcadia and Retail Acquisitions respectively.

Former BHS owner Philip Green then instructed Schillings to demand an “immediate apology” from one of the MPs in charge of the inquiry over “false” statements he had made on the radio.

https://www.thelawyer.com/issues/online-august-2016-2/jones-day-joins-dla-piper-on-bhs-administration/

How to Find the Best Mesothelioma Lawyer or Law Firm

How to Find the Best Mesothelioma Lawyer or Law Firm

If you’ve been diagnosed with mesothelioma cancer or any other illness caused by prolonged exposure to asbestos, there are many decisions you must make. Of course, your top priority will be taking care of yourself and focusing on the medical aspects and mesothelioma treatment choices. You will also have to deal with an array of other issues, such as how much will it cost to treat your asbestos-related illness and how will it affect your family. In the first few days, you might not even think about hiring a mesothelioma lawyer because of your pressing emotional and medical concerns.

If you or a loved one has been diagnosed with mesothelioma, asbestos-related lung cancer, or asbestosis, keep in mind that you may be entitled to substantial compensation. We invite you to use our Asbestos Attorney Locator Tool to find a top mesothelioma lawyer in your area. With over $30 billion currently in asbestos trust funds, now is the right time to take the first step in determining what you may qualify for.

Hiring the Best Mesothelioma Attorney

If this is the first time that you have needed to hire an attorney, you need to know that asbestos and mesothelioma cases should not be handled by just anyone with a law practice. Like car accident or nursing home abuse lawyers, asbestos and mesothelioma attorneys specialize in a narrow niche of personal injury law, with a unique focus on asbestos-related lawsuits.

This field is extremely complex and requires knowledge about the asbestos industry, knowledge of mesothelioma treatments, exposure to asbestos, and investigative methods to determine who is at fault. The average personal injury lawyer might have a general idea about cases related to asbestos, but may not have the experience or skill sets to handle your case in a way that an accomplished mesothelioma lawyer can. A mesothelioma attorney has the right tools and experience to help you deal with the complexities of your case and to help you win fair compensation for your asbestos-related illness.

Keep in mind that there is no one-size-fits-all mold which produces mesothelioma and asbestos lawyers. Every individual lawyer has a unique method of handling cases, and each law firm has its own set of legal strategies in dealing with asbestos law. Some lawyers have dealt with cases such as yours for years and understand first-hand about the disease, including the harsh symptoms of mesothelioma and what victims have to live with on a daily basis.

On the other hand, other attorneys are newcomers to the world of mesothelioma law, and although they may have asbestos-related training, they lack the experience of actual cases. Choosing the right lawyer to handle your case can be a challenge, especially if you’re stressing over your illness, your bills, and how this is affecting your loved ones. However, as previously mentioned, if you arm yourself with knowledge and options, finding a good lawyer doesn’t have to be difficult.

Steps To Finding The Best Lawyer or Law Firm

Choosing a mesothelioma attorney is not a task that should be done in haste. You should never hire a lawyer just because a law firm’s TV ad was loud and flashy. There are many attorneys and law firms competing to handle asbestos or mesothelioma cases, but some are inexperienced newcomers who might not be able to handle your case properly. You need to separate the good lawyers from the not-so-good ones. But with so many law firms and attorneys out there, how do you find the right one?

1: Research 

The first step is to do research on mesothelioma and asbestos attorneys. This sounds easy enough, but it requires time, patience, and energy. These three assets might be in short supply, especially when you are tired and don’t feel well, yet it’s important to make sure you seek out the best mesothelioma law firm for your particular case and needs. If you feel you aren’t up to the challenge, consider enlisting family members and/or friends to help you conduct Internet searches and make lists of law firms or attorneys who may be qualified to handle your case.

Whether you conduct your own research or delegate it to others, look for attorneys with the right qualifications and established histories of dealing with asbestos law. Don’t make a list that’s too long. Select a manageable number of prospective mesothelioma law firms and ask for a case evaluation as quickly as possible. If a law firm can’t evaluate your case in a timely manner, there is a chance they may be too busy to take on your case. With cases as sensitive as mesothelioma lawsuits, you’ll need an attorney who not only has the experience, but also the time and effort to dedicate themselves to the unique needs of your case.

2: Internet 

Looking on the Internet is a convenient and relatively simple method to find the best attorney. The search terms “asbestos lawyer” and “mesothelioma attorneys” yield literally thousands of search engine results. Though the sheer number of lawyer websites is staggering, you can figure out the better ones simply by reading the information provided on home pages and FAQ sections. An experienced mesothelioma law firm’s website should provide you detailed information regarding all aspects of asbestos-related diseases, state statute of limitations, pertinent information regarding lawsuits, and answers to important questions you may have.

3. Comprehensive Websites 

If the information is well-written, free of hyperbole, and covers detailed information, add the firms’ names to your list of possible choices. Steer clear of websites belonging to attorneys who make exaggerated promises about how much you will win if you retain them to handle your case. Although it’s important to seek out a law firm’s track record of previous successful mesothelioma lawsuits, no law firm can guarantee exactly how much you’ll win.

Keep in mind that although mesothelioma legal cases were relatively obscure until the number of documented mesothelioma cases rose in the 1990s and 2000s, they are usually lucrative and many cases are successful. Yet, there are an array of factors that affect each case, such as the stage of the disease, how you long you were exposed, and much more. Therefore, it’s not possible for a mesothelioma law firm to promise you a set amount of money beforehand. The best lawyers will never make you false promises of how much compensation you can win, although giving you a ballpark figure shouldn’t be seen as a red flag.

Key Points in Finding the Best Mesothelioma Law Firm

Knowledgeable in all aspects of state and federal asbestos laws

Extensive knowledge of all asbestos-related diseases, such as malignant mesothelioma and asbestosis

Training on how to handle families with lost loved ones and/or victims going through emotional trauma

Proper investigative skills in order to research prior company records, and if applicable, previous lawsuits against the defendant

A professional law firm typically offers a no-obligation consultation in order to determine if they can successfully handle your case

Additional Tips:

Get Client References: If you want to find out how well mesothelioma lawyers handle their cases, ask for testimonials from some of their clients. Prospective hires will provide you with a list of satisfied clients who have cleared the attorneys to give to their names and contact information. You probably will see only positive feedback, but you can get a good feel for how successfully the lawyers handled previous cases.

Get a Consultation: Once you have a short list of attorneys that fit the needs of your asbestos lawsuit, begin contacting them and ask for a pre-screening. The initial contact can be made on the Internet via the attorneys’ websites or by phone. The consultation, however, is best done in person because this is when the attorneys evaluate your case. During this evaluation, the asbestos lawyers will advise you on your case’s validity, your chances of getting a settlement, and how much of a percentage of the award they will get if you win. Keep in mind, as aforementioned, the best mesothelioma lawyers will usually offer you a free, no-obligation consultation before taking on your case.