Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
The recent economic condition in the U.S. is becoming distressing and is likely to be continued in the future. Standing on this economic surface, Mark Dow, a Wall Street money manger for Pharo Capital Management has analyzed that the root cause of these financial woes is not any regulation or Obama’s administration policy; rather it is overwhelming household debt.& ...
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Phone calls from our near and dear ones are always welcomed by us, but not from debt collection agencies. Ironically speaking, if “being in debt” is a cake, calls from debt collectors serve as icing on it. Well, if you ever receive a call from any agency identifying them as a debt collection agency, beware! While you may owe some debt to your creditors, not all ...
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The federal and state governments are incorporating FTC Act (Section-5), FTC telemarketing sales rules and Uniform Debt Management Services Act into their legislation. With the implementation of these new laws, it will be improper and unlawful for ordinary professionals to identify themselves as debt arbitrators. Therefore, it has become very important for them to ...
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The Federal Trade Commission has warned more than 18 websites providing free credit report that have unable to comply with the Federal rules and regulations. The FTC states that they need to disclose the fact that a free report is available under federal law. According to the amendment of the Free Credit Reports Rule by the FTC and has been implemented on 2nd April, ...
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Well, sound crazy. Isn’t it? We know that in reality debt collectors turn debtors crazy by numerous collection attempts. However, you can do the same with debt collectors. The best thing to start with when a debt collector is attempting to collect from you is to remain calm. Even if the debt collector is offensive and uses abusive language, staying cool is the best ...
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Deferred payment letter of credit is a well known phrase in the arena of international business transactions. Oftentimes, several issues like distance, varying import laws, their different procedures and improper communication can disrupt an international negotiation procedure. In fact, if the buyer and seller are not familiar with each other and have not got enough ...
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After the recent financial cries in the U.S., almost all individuals are experiencing various economic hardships like job loss, underemployment and wage reduction, and are incessantly facing problem in managing their finances. So in lieu of managing finances, a large number of people are drowning in the sea of debt and struggling hard to save their neck. According to ...
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What is frozen account- Frozen account defines a state when you are no longer able to access to your bank account because your creditor has brought court judgment against you for not paying his debt. This is a hard tactic that creditors employ to put pressure on you to squeeze money out of you. However, you are always welcome to deposit money into a frozen account. ...
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