Fee Structure

If you can show a comparable company with lower fees than us, then email Nick Denton at nick@oakviewlaw.com, and we will provide you the same services at 50% of the fees of the other company.

Debt Settlement and Debt Consolidation Fees

OVLG has a unique, affordable, and FTC compliant fee structure.

  • First of all, we don’t charge any advance or upfront fee before settling your debts.
  • Secondly, you have to pay a flat fee on the total debt amount you have enlisted for settlement or consolidation.

Let’s say,
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 your debts have been successfully settled, you’ll pay $1500 to us.
Breakdown of your fee
15% of $10,000 = $1500.

What do we mean by success fee?

Since you’re paying the flat 15% fee after we have successfully settled your debts, so we are calling it as a success fee.

Do you have to pay anything else?

You have to pay a monthly consultancy fee of $50 for enjoying the following services:

  1. a monthly 30 minutes consultation with our savings consultant
  2. 30 minutes consultation with our budgeting consultant
  3. 30 minutes consultation with the tax attorney so that you can figure out how much tax you can save

Does that mean you need to pay extra money?

OVLG doesn’t charge any extra penny from you. We will deduct the consultation fee from the success fee after your debts have been successfully settled.
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
Your total success fee $1500
Your consultation fee $600
Your final success fee $1500 - $600 = $900

See, now you can be sure that OVLG doesn’t charge any extra penny from you.

Where do we keep your money?

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.

What’s unique about our fee structure?

The unique feature of our fee structure is the 100% No Results Refund Policy. If you’re satisfied with our services, then we will refund your trust account balance inclusive of the monthly consultancy set aside.

Budgeting and bill pay fees

Monthly maintenance fee:

$50 for the first 10 monthly recurring bills. $5 for each additional bill.

Example:

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.

Interest rate negotiation fees (also known as Debt Management or Credit counseling)

Monthly maintenance fee: $39.

Chapter 7 Bankruptcy fees

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 Bankruptcy fees

Chapter 13: $3,000 plus additional amount set by the court.

A lot of our clients sign up for debt management or debt settlement hoping to avoid bankruptcy but while they are in the debt management or debt settlement program their financial situation might become worse. In such a scenario we give them an easy path to bankruptcy. Hence, for both chapter 7 and Chapter 13 bankruptcies we give up to $500 credit for fees paid towards debt management or debt settlement.

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 like homes).

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)

Amendment Fee: $26 per amendment (if you have to make changes to certain documents after initial filing).


Last Updated on: Tue, 15 Jan 2019

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