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Debt settlement solves your debt reduction needs fast: True?

In a debt settlement program, the creditor agrees to slash the outstanding balance of the consumer by a certain percentage after a successful negotiation process. The program is usually offered by a settlement company in exchange of a fee.

The best part of the program is that consumers can settle debt for pennies on the dollar. They won't have to pay late fees, fines or penalties.

How much can you save?
Monthly payment you can afford
($)

OVLG Debt settlement process – 5 Simple stages

Stage 1:

Our financial coach reaches you over phone. He analyzes your financial situation and decides if debt settlement is best for you.

Stage 2:

If this program suits you, then he'll explain the fees structure and other details clearly. Once done, you've to sign an agreement with us.

Stage 3:

You get an e-copy of the debt settlement agreement. A secured client secure area is given to you. You can track your case every minute.

Stage 4:

The CRA (Client Relationship Analyst) opens a dedicated account in Bank of America wherein your money is saved every month.

Stage 5:

The negotiation process starts to reduce the outstanding balance. Once the creditor is ready to accept the partial payment in exchange of a lump-sum payment, we will settle your debt.

Note:
Once payment is done, the creditor will inform the credit bureau that you've settled the account.


Why OVLG is the best debt settlement company

Why is Oak View Law Group unique? What makes it the best debt settlement company in the country? Find out on your own.

  • Follows all the settlement laws
  • Solves your debt reduction needs
  • Have a panel of attorneys to help you
  • Help you settle debt in 48 states
  • Gives you a 100% refund policy
  • Have a reasonable fee structure
  • Offers easy to understand written settlement agreement
  • Gives you FREE sample settlement letters
  • Gives you FREE advice on settlement
  • Helps you calculate your savings
  • Is a registered law firm
  • Has strong privacy policy
  • Has a transparent work methodology
  • Seek approval for all resolution offers

* OVLG doesn't offer any services in Wisconsin, Vermont, Colorado and Connecticut.

Get instant help from OVLG
Thu Jan, 2015 Review: KW2 saved $2154.38
Client satisfaction level:
      
* Client names have been changed to protect privacy


6 Must-haves during debt settlement


Debt settlement letter

Debt settlement calculator

Debt settlement agreement

Good settlement company

Money to settle debt

Proper disclosures

Debt settlement pros

  • You can save a lot
  • Creditors can be less aggressive
  • You can avoid filing bankruptcy
  • You can avoid collection calls
  • Late fees and penalties will be dropped
  • You can ditch credit card debts within 3 years

Debt settlement cons

  • Your credit score will drop initially
  • You'll have to pay tax when you save more than 600
  • You've to abide by the settlement agreement

Who can go for this debt relief option?
Who can
  • Have credit card debt issues
  • Have personal loans
  • Have private student loans
  • Have huge medical bills
  • Have huge cell phone bills and utility bills
  • Have legal payday loans
  • Unable to afford current monthly payment plans
  • Want to avoid the stigma of bankruptcy
Who can't
  • Have federal student loans
  • Can't cover tax obligations
  • Can't sacrifice their credit little bit
  • Have mortgage loans


Do you have the qualities to negotiate on your own?

Here you're actually talking about DIY debt settlement. Well, it's not for everybody and this is why several consumers approach attorneys. Here are the 10 qualities you need to have in order to negotiate on your own:

10 Qualities you need to have

  • 1 You're less emotional and more practical
  • 2 You know the collection laws by heart
  • 3 You can talk sweetly
  • 4 You can manage collection laws
  • 5 You can execute your debt settlement plan
  • 6 You've an idea about the collection cycle
  • 7 You know how fast you can arrange money
  • 8 You're diplomatic and can negotiate well
  • 9 You can convey your problems properly
  • 10 You can get everything in writing

Why it is good to consult a debt settlement attorney

Attorneys are there in the industry for several years. They know the ins and outs of debt settlement programs really well.

9 Reasons to consult a lawyer or attorney for settlement

  • 1 You don't have any headache. The attorney will look after your case.
  • 2 You don't have to receive collection calls. The attorney or will handle them.
  • 3 Attorneys know what creditors can or can't do. So, they can plan accordingly.
  • 4 Attorneys know the latest FTC rules by heart. You might not know about them.
  • 5 Attorneys can negotiate really well. They'll probably save more for you.
  • 6 Attorneys may help you when creditor decides to file a case against you.
  • 7 Attorneys can safeguard you from collection harassment.
  • 8 Attorneys will give you the best legal advice.
  • 9 Attorneys can show you the other options as well.

OVLG Trivia

Do you know what are the alias names of DSP?
    A: Well, a lot of people refer DSP as:
  • Debt negotiation programs
  • Debt reduction programs
  • Debt resolution programs

Next time you hear these names, don't get awestruck.
This is nothing but DSP.

What are the 6 types of debts that are settled by OVLG?
    A: Credit card debt
  • Personal Loan
  • Payday loans
  • Utility bills
  • Medical bills
  • Collection account

Is it a registered firm?
It is registered with CalBar and Cal Chamber


Are there any tips to choose a good settlement company?

Yes, there are. If you want to know about them, then check out the following tips:

  • Ask the company about how to settle debt. A good one will know the program in details.
  • Ask if it charges any upfront fee. A good one won't charge an advance fee.
  • Check if it's a licensed company in your state.
  • Find out it's industry experience. The longer it has been in the industry, the better.
  • Check and find out if their fee structure is acceptable.
  • Go through the online reviews on the company.
  • Ask about the right-of-rescission period.
  • Check if the debt settlement company follow the FTC laws.

6 FTC laws debt settlement companies must follow

  • They can only charge a part of its full fee for settled debt.
  • They need to give you full information about debt settlement program.
  • They must explain their terms and conditions.
  • They should tell you the amount you need to save.
  • They can't promise what settlement companies can't deliver.
  • They must explain the risks associated with the program.
Caution: Some settlement companies may ask you to forget about making monthly payments to creditors. In that case, these companies must explain the possible outcome of not making payments – both positive and negative. If they don't, then this again will be a violation of the FTC laws.

Ask experts to know about other laws

What you can do when settlement is not good for you

Well, you have 3 options basically during this time.

1 DMP:
Here you can get low interest monthly payment plans to pay off your unsecured debts
2 Consolidation:
Here, you only have to make one payment every month.
3 Bankruptcy:
Here you liquidate your assets or go for a reorganization plan to pay back creditors.

Interested in getting FREE debt settlement advice?
Call us at our Toll Free Number – (800) 530-OVLG
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Pages

Debt settlement scams: Oak View Law Group reveals some facts

Debt settlement scams: Oak View Law Group reveals some facts

Date: 03:54 am 26th May, 2014 Article Rating: 
Rating: 
4
Average: 4 (1 vote)

Nowadays, many consumers fall prey to debt trap and reach out to debt settlement companies only to find out later that they have been scammed. Today, we come across a lot of debt settlement scams and most of the scams are a result of lack of information on the debtor’s end. If you want to avoid [...]... Read more


Frequently Asked Questions on Debt Settlement

Frequently Asked Questions on Debt Settlement

Date: 11:24 pm 9th May, 2014 Article Rating: 
Rating: 
No votes yet

1. How will debt settlement affect my credit score? When you first enroll in a debt settlement company, your credit score will go down. However, as your creditors report your accounts as “paid” or “settled” your credit score will recover. It is true that debt settlement is a great way to [...]... Read more


Comparison between Debt Settlement program and Bankruptcy

Comparison between Debt Settlement program and Bankruptcy

Date: 11:38 am 16th Jun, 2013 Article Rating: 
Rating: 
5
Average: 4.5 (2 votes)

Choosing between debt settlement and bankruptcy in the face of mounting debts is a tough decision to make. It is important to understand that although both the options aim at offering debt relief, they work very differently. So, in order to make an informed decision, you need to understand these [...]... Read more


Debt settlement or bankruptcy - Which one is better for your credit?

Debt settlement or bankruptcy - Which one is better for your credit?

Date: 10:47 am 16th Jun, 2013 Article Rating: 
Rating: 
4
Average: 4 (1 vote)

It depends on whether you declare Chapter 7 or Chapter 13. Chapter 7 Bankruptcy will remain on your credit report for 10 years, and Chapter 13 bankruptcy stays for 7 years from the filing date. This is the same with all the major credit reporting agencies, may it be Equifax, Experian or TransUnion [...]... Read more


Debt settlement scams: Oak View Law Group reveals some facts

Debt settlement scams: Oak View Law Group reveals some facts

Date: 10:43 am 16th Jun, 2013 Article Rating: 
Rating: 
0
No votes yet

Nowadays, many consumers fall prey to debt trap and reach out to debt settlement companies only to find out later that they have been scammed. Today, we come across a lot of debt settlement scams and most of the scams are a result of lack of information on the debtor’s end. If you want to avoid [...]... Read more




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