Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
The art of misuse of credit cards has entangled many in the webs of debts. You may have looked out for options, even considered filing bankruptcy, but to no effect. If you want to come out of this dire financial crisis without having to face the ill effects of bankruptcy, here are some things to consider: If you are sinking deeper and deeper in debt and are unable to ...
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With the recent changes occurring in the finance market, economic downturn has led many individuals to file for personal bankruptcy. It may not be a preferable solution for many but sometimes there are no other options to look forward to. With economical conditions becoming worse, more and more people are tending towards declaring Personal bankruptcy. However you may ...
Read moreYou get hold of your credit report one fine day. You take a glance at it and the shock that you get hits you hard. Your prim and proper credit report has gone for a toss with hefty items being listed on it without your knowledge! You feel you’re at your wits end and wish all of it were a bad dream. Well, it’s time to get real. Your credit report is not safe ...
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The Federal Trade Commission (FTC), in order to maintain control over the debt-service industry, has enacted certain additional restrictions to the Telemarketing Sales Rule (TSR). According to FTC, these restrictions are essential to increase the agency’s control over the debt-relief providers. However, the proposed TSR amendment applies only to for-profit debt- ...
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The Federal Trade Commission (FTC) is all set to modify the notices that credit bureaus provide to consumers in accordance with the provisions of the Fair Credit Reporting Act (FCRA). Under the FCRA, the credit bureaus must supply the consumers with notices that summarize the consumers’ rights and duties concerning the various aspects of credit reporting, such ...
Read moreCredit card in the recent times has somehow become a part of life; no matter to what extent it is despised. It is more of a habit nowadays and very difficult to change for that matter. The problem is actually not with the credit card you own but with its improper usage. If the card is misused or overused, the end result is undoubtedly bankruptcy filing followed by ...
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Criminal restitution is money that the offender must pay to the victim (or the victim’s insurance) to compensate the financial losses suffered by the victim as a direct result of the offense. It is a monetary debt that the offender owes to the victim. If a debtor owes criminal restitution, then it might not be discharged even in bankruptcy. Even if the restitution ...
Read moreIn the time of acute financial crisis where debts and interest are mounting out of control, filing personal bankruptcy can be a considerable option. However, the filing process and the related procedures are not always simple. The process involves various complications that can affect you if you are not proficient in handling them. You need to take into account every ...
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