In This Issue:   TN Leads Bankruptcy Filings   Online Pre-Registration   Use Caution When Making Purchases With Your Debit Card     Visit Us on the Web Please visit our newly updated website at: www.rbankslawfirm.com

Tennessee Leads Bankruptcy Filings One in 56 Tennessee Households Filed for Bankruptcy  One in 56 Tennessee households and one in 60 Georgia households filed for bankruptcy relief in the first quarter of 2008*, according to statistics recently released by the National Bankruptcy Research Center. The national average was one personal bankruptcy per 119.1 households. Here is a list of the top 10 states for bankruptcy filings per household: Tennessee: 55.8 Georgia: 60.1 Nevada: 61.2 Alabama: 72.1 Indiana: 75.9 Michigan: 76.6 Arkansas: 84.0 Kentucky: 84.2 Ohio: 90.8 Mississippi: 91.8 * Rates adjusted to annual terms. Source: National Bankruptcy Research Center

Online Pre-Registration   Thank you to all of our new clients who have utilized our online pre-registration system.  This functionality is now available via our website www.rbankslawfirm.com, and allows the pre-registration process to be completed online, prior to coming into the office.   This is new technology for our office, and we would greatly value your feedback regarding your experience - either positive or negative.  Please email your comments/suggestions to:  RichardBanks@rbankslawfirm.com.

Here's What You Need to Know About Making Purchases With Your Debit Card There’s a reason that “debit” without the “I” spells DEBT. It’s because using your debit card could end up costing you big time in certain situations! So here’s what you need to know when it comes to making a purchase with your debit card, courtesy of Quick and Simple Magazine. Buying things online can be dicier when you pay by debit card.  Here’s why: If you shop with a credit card and your merchandise doesn’t show up – or it’s shoddy - you can dispute the charge, without paying it, while your credit card company looks into the situation. If you pay by debit card, your bank isn’t required to help you solve your shopping problem. So if you want to play it safe, use a credit card for online purchases. Remember: DON’T shop online unless there’s a picture of a little golden “lock” on the bottom of the page, and make sure the Web address starts with HTTPS. The “S” stands for “secure”. Surprise holds. Places like hotels and gas stations are allowed to temporarily freeze funds in your checking account when you pay by debit. This is to ensure they’ll get paid BEFORE you pump your gas or open the mini-bar in your hotel room. These holds typically disappear within a couple of days, but if you maintain a low balance in your checking account, a 50 dollar gas hold could cause you to overdraft – and you might get socked with a fee. So use a credit card to secure hotel rooms, and pay cash for your gas. Here’s the final debit card issue: Once upon a time, your debit card would be declined if you didn’t have enough money in your account. However, these days, some banks offer “courtesy overdraft loans,” which allow you to make purchases even if you don’t have the money in your checking account! Some banks now charge an average of $34 per overdraft item! The fix? Sign up for REAL overdraft protection, and ask if your bank can deny debit transactions that take your balance into the red zone. Or do what we always recommend, and pay with CASH – so you can’t spend what you don’t have.