Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
Paying off debt is a sprint - How far do you agree with this statement? A person in debt will understand it better. You can run at a full speed over a short distance; that is, you can save the maximum amount for a month or say, a couple of months, and repay a major portion of your debt. But, how long will you be able to do so? Probably not more than a few ...
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Are you a patient person by nature? I’m asking this because I don’t have a patient bone in my body. You can criticize me as much as you want. But this is how I am. When I finished my college, I wanted to get a job as quickly as possible. When I apply for a credit card, I want to get one the very next day. This is how I am. Are you just like me? If so, then it ...
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It’s a sad but true story. - and if you've even been a victim of identity theft yourself, you’ll be able to relate. Jason was overwhelmed beyond words as he received a letter stating his son’s application for the second credit card. He had no idea about what was happening since his son was just 4 years old. Jason reached out to the local Trustee office only ...
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Investing for retirement doesn’t always provide guaranteed return on investments. Do you know why? The reason is most of the baby boomers (would-be retirees) commit certain pre-retirement blunders that blow away the benefits out of their investments. Luckily, there are ways to prevent that from happening to you. Worst pre-retirement moves you must always avoid ...
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Recently, a nerve wrenching utility scam has occurred with a small non-profit business owner. The victim, Fay Givens, the executive director of American Indian Services in Lincoln Park, has warned all small business owners after the incident. She said that every small business owners should check their bank accounts regularly. You never know, someone can do the ...
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“The whole point of credit cards, the way they are rendered most profitable, is that we dig ourselves into debt and stay trapped there forever.” In the present times, credit cards have become an easy solution. You can just grab your cards and go for shopping, dine out, go for a holiday, buy an big-ticket item, and what not. Only what you need is the required ...
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Owing taxes to Uncle Sam may cost your ability to travel overseas, provided you’ve taken no preventive measures to tackle the crisis.What’s the law?In December 2015, Section 7345 was enforced and placed under the tax code. The Internal Revenue Service (IRS) can revoke your passport for failing to pay your taxes. However, your tax debt should be at least $50,000 or ...
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As per the study by University of Michigan researchers, "About 40% of Americans, who were still working when they turned 62, had moved to a new occupation sometime after age 55." The same research disclosed even an unfortunate fact, i.e. "The older workers experience a decrease in hourly earnings when joining a new job." The lifestyle inflation forces people to ...
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