Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
Filing bankruptcy can leave you in a miserable condition. Apart from the social and economic stigma, you would also have a ruined credit score if you opt for this debt relief option. For obvious reasons, post-bankruptcy life is not very easy for most people. It becomes quite difficult for people to secure loans in case they want to buy some assets which they have ...
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Tax changes have been implemented by President Obama due to the current economic downturn. Average Americans will be benefited with the new tax cut which will help them to combat financial crisis. Mr. President has introduced the new tax cut plan to safeguard the position of financially strapped people. But there will be an immense impact of the tax cut on the ...
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There’s not a single family left to be contaminated from the severe effect of debts in the face of global economy. The family income is not enough to pay for the educational expenses of their children. With the rising cost and piling debt burden they are forced to take out a student loan for higher education. But don’t you think just taking out a loan is ...
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Are you an underemployed person with a lot of debt and contemplating Chapter 7 bankruptcy? Many people in such a situation are concerned about what the creditors can take away from them if they file Chapter 7 bankruptcy. There are some misconceptions among common people which creates a lot of confusion. So let’s get the facts straight.A lot of people get worried ...
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Filing bankruptcy is certainly not a nice experience. You are indeed in a tight and stressful situation while you are in bankruptcy. But bankruptcy affects not only you but also your family especially your children. Have you ever wondered how bankruptcy can cast its dark shadow over your kids’ life? Read on if you are not too sure about the right facts. ...
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Foreclosure is increasing at an alarming rate in the U.S. While the federal government is concerned about people losing their home, little attention is paid to the fact that for many people saving their home might not be the right option at all. With Chapter 13 bankruptcy, it is possible to protect your dwelling place. But is that the right thing to do irrespective ...
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A lot of people end up sabotaging their bankruptcy case due of lack of proper knowledge. This can seriously hurt your chances of discharging debts through this debt relief process. Read the following tips to avoid the typical mistakes which debtors make while in bankruptcy: It is mandatory to take a credit counseling session before filing bankruptcy. Many ...
Read moreMany business owners or owners of corporate houses are at a loss when it comes to filing bankruptcy. They are not too sure about the right time to file bankruptcy and are rather confused about the process as well. So let’s throw some light on the issue. A corporate house can file either Chapter 11 or Chapter 7 bankruptcy. Chapter 11 bankruptcy: This ...
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