Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
Trusts make an important portion of your estate planning and overall wealth portfolio. The availability of several types of trusts, and their liabilities to become taxable in various ways and forms, make it very difficult to choose a trust set up, that you will be forever comfortable with. Usually trusts are made to contain huge amounts of wealth and property, and ...
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The economic situation in the country is horrendous right now. All thanks to the COVID-19 outbreak worldwide. Most companies are either shut down or employees are working from home. Economic growth has stalled, and no one knows when the situation will improve. Many have lost their jobs. Others are forced to work with a pay cut. And, amidst all these depressing ...
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The COVID-19 pandemic has given a huge blow to the economic condition across the world. Many people are fearing job losses or pay cuts as they are unable to step out of their houses! And let me tell you, this fear is quite justified. The reason being, some of the people have already lost their jobs or got a pay cut! Amidst all these, the people of our country got a ...
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The best part of filing bankruptcy is, it will stop the creditor’s harassment against debtor. No creditor can bother a debtor through phone calls, threatening letters, and lawsuits etc. As per the bankruptcy law, this is known as automatic stay. Read the FAQs to make yourself more knowledgeable regarding automatic stay violation in bankruptcy. FAQ ...
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We are helpless before nature, no matter how much technologically advanced we are. Hurricane Irma reminded us of this harsh reality yet again.Hurricane Irma removed Barbuda island from the world map, caused 11 deaths, and left 6.7 million people without power in 5 states of USA. The massive storm tore a path of destruction on the Caribbean islands and Southern Florida ...
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More and more seniors are filing bankruptcy nowadays due to various socio-economic reasons like expensive medical expenses, social security payments, and huge unsecured debts. .If you look at the numbers, you’ll find that the average age of 1 in 8 bankruptcy filers, during the period between 2013 and 2016, was 65 years. As per Robert Lawless, a senior professor at ...
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The Boston-based Fidelity Investments had conducted an online survey about financial resolution among a huge number of people recently. According to that survey, 84% of people have confirmed that they are looking for saving more in the New Year 2020. They are not interested in taking out loans or increasing debt. They want to reduce their financial obligations ...
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Credit card debt is mostly unsecured, unless it is a prepaid credit card, or has any asset as a backing.But, a credit card coming with a backed up security or asset, is a ‘one in a million’ chance of occuring. Yet, this shouldn’t make you ignore the fact, that a creditor can take away your home and other properties, if you are unable to pay off your credit card ...
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