Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
You are drowning in credit card debt, but you are not too eager to enroll in debt relief programs. You are scared that it might ruin your credit. Is your reasoning flawed or justified? Actually, it is flawed. Many people sink deeper in debt while trying to maintain a good credit rating. Here are three good reasons to focus on your debts rather than credit score ...
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Whenever you take a loan to buy a house or a car, you come across the term “debt-to-income-ratio”. This is an important concept, which relates your debt payments to your gross income. With the help of your debt-to-income ratio (DTI), the lenders try to understand your chances of repaying the loan. Read on to know more. Back end DTI Let’s consider an ...
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Saving money and paying off debt are both very important goals. They’re also steps that you require taking in order to reach a bigger goal, that of living financially free during retirement. But what if you have credit card debt, mortgage debt and you also make contributions towards your 401(k) account? Which should be your priority? Should you continue making ...
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Debt can weigh on you pretty heavily. You may have sleepless nights due to monetary troubles. Moreover, the collection agencies can make you feel miserable. They make abusive calls at your home and office. They harass you in public places. They even ignore the guidelines of the Federal Trade Commission. The collection agencies often use illegal and aggressive ...
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Bankruptcy filings in the U.S have been on the rise since the recent economic depression. Data from the Federal Reserve discloses that 1,593,081 non business bankruptcy cases were filed in the fiscal year 2010. That is a pretty scary figure.May be you are contemplating bankruptcy owing to an acute financial crisis. What if you are not in a position to file bankruptcy ...
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Massive consumer debt in the U.S has pushed millions of people in deep financial crisis. Quite naturally, bankruptcy rate in the U.S is skyrocketing. A lot of debt-stricken American people try to eliminate their debt by filing Chapter 7 bankruptcy. They hope to make a fresh start by discharging their debts. Chapter 7 bankruptcy can indeed give you a second chance to ...
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The U.S economy has not yet recovered from the recent economic depression. Unemployment rate and inflation are still too high and millions of people are knee deep in consumer debt. A report from the Federal Reserve discloses that the total consumer debt in America has reached a scary figure of $2.4 million. This means that an average American has nearly $8000 ...
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Filing bankruptcy is the last resort for many people who are struggling hard to come out of debts. But do you know that filing bankruptcy can affect your insurance premium? This article will discuss whether there is any repercussion on the life insurance rate due to the bankruptcy process. Bankruptcy and life insuranceYour existing life insurance policy is left ...
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