Tampa Legal Blog

Consumer credit reporting is the cornerstone to retail borrowing and lending today. What goes on your credit report, how it comes off and what remedies are available are governed by The Fair Credit Reporting Act (FCRA). Despite significant security protections, Identity Theft remains a large problem with substantial economic implications. This year, almost 8.5 million households will suffer an identity theft event with an average loss of $4,900. The problem is much larger than just the average loss. Seven percent of the population is expected to have unauthorized use of an account or utilization of another's identity to obtain credit with no intent to make repayment.

Some consumers rely on the built in protections from the FCRA. These protection are both proactive and reactive. One of the most effective tools to manage credit which will prevent the unauthorized use of consumer credit by making the consumer the actual gatekeeper is the credit freeze. The Credit Freeze uses a consumer created Personal Identification Number (PIN). Following the freeze concept, the PIN can be used to temporarily thaw the account so new credit can be authorized and all of the protected accounts properly managed by the consumer. During the freeze, your accounts function normally and are not impaired. The Freeze can be used for an indefinite period of time.

A chapter 7 bankruptcy is a liquidation bankruptcy filing which results in the retention of exempt assets and the legal discharge of most debts. Relief under chapter 7 is limited as an individual debtor may only file for Chapter 7 once every eight years. A Chapter 13 bankruptcy is a reorganizational bankruptcy which serves a variety of different purposes.

There are circumstances where it is favorable to file for Chapter 7 and receive the discharge. Once the Chapter 7 discharge is entered, the debtor may file for Chapter 13 relief. This process is generally referred to as a Chapter 20. The term Chapter 20 is not found anywhere in the Code. While the strategic filings of a Chapter 7 followed by a Chapter 13 are not expressly authorized by the Bankruptcy Code, there are no provisions which prohibit it, provided it is done in good faith.

Colleges are in session and young adults are gaining access to alcohol despite the 21 year old drinking age, this is nothing new. We are coming to the end of the high school year and we know our young adults and teens are experimenting with adult beverages. For many it is a rite of passage, for some, a response to peer pressure. Regardless of the cause, we know it is not a good thing at a tender age. Drunk and impaired driving is a scourge on American society. The National Highway Traffic Safety Administration (NHSTA) analyzed and found a morsel of good news: "deaths in crashes involving drunk drivers dropped 4.9% in 2010, taking 10,228 lives compared to 10,759 in 2009'.

Despite all the laws and regulations in place, a substantial number of Florida's financially challenged drivers do not have liability insurance. Liability insurance is the coverage that extends to third parties injured by the uninsured driver. Current statistics reflect that approximately 23% of Florida's drivers do not have the required coverage which is mandated to protect you and your family if they are at fault in a motor vehicle accident.

There are some very prudent things you can do to protect yourself, more than just wearing your seat belt and watching out for the other driver. Call your insurance agent and make sure you have Uninsured Motorist Coverage. In its simplest form, you are buying an inexpensive third party liability insurance coverage for the uninsured driver who may hit your car next week.