Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
The title sounds a bit awkward, right? Make little sense, no? Or, no sense at all? You cannot fight debt with debt. If you do, you won’t be able to get out of the vicious cycle. For many personal finance experts, the motto is “fighting debt and growing wealth”. Fighting debt with debt is never an option for them. However, while there are many people who are ...
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Misunderstandings can be expensive especially when it comes to taxes. It can create a false picture in the mind of taxpayers and lead to horrible mistakes. Here are the 4 common tax misunderstandings people have in our country. 1. Government doesn’t have legal right to collect income tax The constitution clearly states that - “The Congress shall have power ...
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The middle class should not continue to foot the bill for tax breaks for millionaires and billionaires. - Keith Ellison, Congressman, Minnesota Tax breaks are an excellent financial windfall Americans look up to. They save on a taxpayer’s personal liability. These tax breaks add to the taxpayer’s nest egg in various forms, viz., tax credits, tax deductions, and ...
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Many of you may know about the various benefits of an HSA (Health Savings Account), but very few know that it can be a tax shelter too. An Health Savings Account is a medical savings account that is available to only the taxpayers of the United States of America. The people who are already enrolled in a high deductible plan can get the benefit if they’re saving ...
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Owing huge medical debts is not uncommon, especially when medical costs are soaring day by day. Emergencies can come up any time and you might end up owing a huge medical bill that you are unable to pay off. Often hospitals and clinics sell off their delinquent accounts to medical debt collectors before the completion of the traditional 150 day period. This is where ...
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Last year, my cousin sister Emily got a debt collection letter from the hospital where her mom was admitted for several days in Texas. The hospital has charged her $80,000 for the long-term medical cost of Aunty. Quite obviously, she was shocked and devastated to receive such a huge medical bill without doing anything wrong. Not knowing what to do, she consulted an ...
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Managing your monthly household expenses can overwhelm you. But you’ve got to organize your finances, make life-altering decisions and follow a spending plan. Not every home-bred, self-styled finance guru can help you, as your conditions are unique. So, here’s presenting you the new kid on the block - The 50-20-30 budgeting rule, to help you do just that, ‘ ...
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"Falling into debt is easier than digging out of debt clutches"! Using credit cards randomly and not making the payments or taking out a payday loan and not paying it back can rack up debts. It's easy! But, not paying back debt accounts can be dangerous for your personal finance. You need to follow proper debt payoff strategy to get out of debt clutches. Otherwise ...
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