Archive for May, 2008

Tricks credit card companies play

Posted on May 2nd, 2008

Ken and Daria Dolan had a really good post on WalletPop today about the tricks credit card companies play. Yes, they’re all legal. Yes, they’re all outlined in your credit card agreement. But they are a bit sneaky and can catch you off guard.

Unfortunately, if you want to play the credit card game today, it’s your responsibility to know and abide by these rules, sneaky or not.

Here are the seven… if you want all the details you’ll have to check WalletPop:

  1. Say “Bye-Bye” to Your Grace Period
  2. Punishing you when you are credit smart.
  3. Doing you the “favor” of sending you “convenience” checks.
  4. Psst… Hey, buddy, want to skip a payment?
  5. Lowering your minimum payment due.
  6. It’s 5 o’clock… Do you know where your payment is?
  7. “Over the limit” fees

The Fraud of PrePaid Legal, Explained By a Former US Attorney

Posted on May 2nd, 2008

PrePaid Legal boasts their “legal services plan.” The truth is that very few legal services are ever provided under the plan. If you have a criminal case, contrary to what you’ve been told, the plan is useless. You are told that you have something like 60 to 300 hours of “free” legal services.

The truth is that those hours are for trial only. All the legal maneuvering up until then? You get 2.5 hours. That’s next to nothing. You will need hours of services before the trial that you will pay dearly for.

Herbalife president Gregory Probert resigns

Posted on May 1st, 2008

Following last week’s damaging report by Fraud Discovery Institute and Barry Minkow that Herbalife LTD’s (NYSE:HLF) president and COO Gregory Probert lied about his credentials, Probert has resigned from the company, effective today.

Media reports are cute. Instead of saying he lied, they say he “exaggerated.” Bloomberg gets it right… they say he faked his degree.

Something tells me that Herbalife’s auditors threatened to resign unless Probert resigned. This doesn’t change the fact that the company is selling a fraudulent “opportunity” to the people it recruits into its pyramid scheme, but it is a nice acknowledgment that company executives have been unethical.