We have an affordable and FTC complaint fee structure. We don’t charge any upfront fee before settling your debts. You’ll pay a fixed charge on the total debt amount you have enlisted for settlement or consolidation.
The unique feature of our fee structure is the 100% No Questions Asked Refund Policy. If you’re not satisfied with our services, then we will refund your trust account balance, inclusive of the monthly consultancy fee set aside.
Here is the fee structure with an example:
Suppose you have enlisted or enrolled $10,000 for debt settlement or consolidation. Our CRA negotiates with your creditors and cuts the debt amount into half. That means you have to pay only $5000 to your creditors.
You save $5000 in total.
[$10,000 (your original debt amount) - $5000 (the negotiated amount) = $5000] After our CRA has settled your debt, you have to pay a flat 15% fee (also known as success fee) on the total debt amount you have enrolled in the settlement program.
You enlisted $10,000 in the settlement program. After we have successfully settled your debts, you’ll pay $1500 to us.
Breakdown of your fee
15% of $10,000 = $1500.
Monthly maintenance fee:
$50 for the first 10 monthly recurring bills. $5 for each additional bill.
Suppose Stacy has:
A. 2 bills: She will pay OVLG $50 each month for the bill pay service.
B. 10 bills: She will pay OVLG $50 each month for the bill pay service.
C. 12 bills: She will pay OVLG $60 each month for the bill pay service.
Monthly maintenance fee: $39.
Chapter 7: $1,800 for most cases (filing fees and credit counseling fees not included).
The fees listed below are statutory filing fees, payable to the bankruptcy court.
Chapter 7 Filing Fee: $306 (additional for discharge of most unsecured debts).
Amendment Fee: $30 per amendment (If you have to make changes to certain documents after initial filing).
Chapter 13: $3,000 plus the additional amount set by the court.
The fees listed below are statutory filing fees, payable to the filing fees, payable to the bankruptcy court.
Chapter 13 Filing Fee: $281 (additional for structured partial repayment plan for debtors who want to keep assets, such as homes).
Amendment Fee: $26 per amendment (if you have to make changes to certain documents after initial filing).
Conversion Fee: $25 (to change a Chapter 13 case into a Chapter 7 case)
$0 (to change a Chapter 7 case into a Chapter 13 case)
A lot of our clients sign up for debt management or debt settlement hoping to avoid bankruptcy. Unfortunately, while they are in the debt management or debt settlement program, their financial situation may become worse. Here, we give them a simple path to bankruptcy. For both Chapter 7 and Chapter 13 bankruptcies, we give up to $500 credit for fees paid towards debt management or debt settlement.
Since you’re paying the flat 15% fee after we have successfully settled your debts, we are calling it a success fee
You have to pay a monthly consultancy fee of $50 for enjoying the following services:
1. A monthly 30 minute consultation with our savings consultant
2. A 30 minute consultation with our budgeting consultant
3. A 30 minute consultation with the tax attorney so that you can figure out how much tax you can save
We don’t charge you anything extra. We will deduct the consultation fee from the success fee after we have successfully settled your debts.
If your total success fee is $1500 and you have paid $600 as a consultation fee in the last 12 months, then you have to pay $900 in total.
Breakdown of the adjustment:
See, now you can be sure that OVLG charges nothing extra from you.
We keep your money in the client trust account so that you can easily pay the fees (set aside in the account) and we can start negotiating with creditors without the need to come up with extra funds.
If you can show a comparable company with lower fees than us, then email Nick Denton at [email protected], and we will provide you the same services at 50% of the fees of the other company.
Last Updated on: Mon, 11 Feb 2019