Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
The recent economic crisis has brought the mighty US economy on its knees. Though the economy shows signs of improving, the present state of affairs is far from satisfactory. People are losing jobs, bankruptcy filings are shooting up and people are defaulting on their loans at an alarming rate. It’s not only the debtors who are heading towards trouble but also the ...
Read more
You have filed bankruptcy recently due to acute financial crisis. Does that mean you can never have your own house? Can bankruptcy force you to stay away from investing in real estate? Possibly not. Bankruptcy will indeed make your job tough, may be a bit too tough but it cannot stop you from purchasing property if you are disciplined and determined enough. ...
Read more
Are you contemplating on filing bankruptcy? Well, you need to decide whether you are going to keep your home or not. In case you are eligible for a chapter 7 bankruptcy and determined to keep your home then you should be aware of certain things. At the time of filing bankruptcy should you not be behind your mortgage payments and homeowners’ association dues at any ...
Read more
Have you filed bankruptcy recently and looking for jobs? Well, your experience might have been somewhat demoralizing. Many employers are reluctant hiring people who have gone bankrupt in the past. They are apprehensive about the capabilities of individuals who have exhibited a certain degree of casual attitude in managing their finances. There are many people who have ...
Read more
Are you suffocating under heavy tax debt? If yes, then you must be tempted by the advertisements that claim to settle your tax debt. People with back taxes or audit/collection problems are often vulnerable to the apparently good offers from the fraud tax relief firms. These days, tax debt relief scams are all over the internet and also to an extent on television and ...
Read more
We all spend time worrying about the betterment of credit score and credit report, but what we hardly care to know or assess is the importance of our bankruptcy risk score. Although in use for over the last two decades, bankruptcy risk score is still not talked about much by the consumers. However, its importance is undeniable and needs to be considered, especially if ...
Read more
Maintaining a good credit report is very important if you want to retain your ability to get more loans in the future. If you can manage to pay your credit card accounts timely it can improve your credit report. Normally 30 percent of your FICO credit score are based on the payments you make. If you default on your payments it adds negative markings on your credit ...
Read more
Your dearest friend, in serious need of money, comes up to you and requests that you co-sign a loan with him so he can qualify for a lower interest rate and a bigger loan amount. Being deeply moved by your friend's distress, you decide to be by your friend's side and cosign the loan without much prior thought. Well, this is what most of us do when we find our loved ...
Read more
