OVLG's transparency disclosure
Table of contents
1. What is the cost of the program?
OVLG charges 15 percent of the total debt amount enrolled in the debt settlement program as its success fee. $50 is charged as monthly consultancy fees where our savings and budgeting experts provide monthly financial consultation to all our clients thereby helping clients to manage their finance and problem debt in a proper way. Consultancy fees also gets adjusted with the success fees when success fee becomes payable. So this consultancy fees becomes free.
2. What are OVLG's debt settlement program terms and conditions?
OVLG's terms and conditions are kept open for every visitor and prospective clients before making a purchase decision. One can view our agreement here.
3. What percentage of OVLG clients settle at least some of their debt?
OVLG has settled at least one account for 72.7% of its clients. Credit for such an exceptional performance goes to our client relationship mangers and client's motivation to set aside funds in the trust account.
4. What percentage of clients drop out of the debt settlement program before completion?
Till date OVLG has experienced 24.57% drop out rate.
5. For those who complete the program, what was the average length of time in the program?
Length of the program is dependent on various factors such as the debt amount, client's ability to make monthly payments and to come up with extra funds when required to accept a settlement offer. Taking all such factors into consideration, OVLG takes an average of 21 months to complete the program.
6. What is OVLG's average settlement amount?
OVLG's performance is improving every single day. Taking into consideration, the debt amount at the time of settlement, OVLG settled the accounts for an average of 41.23 % thereby providing a reduction of 58.77% to its clients.
If the debt amount at the time enrollment is considered, OVLG has settled the accounts for an average of 46.68%, which means 53.32% savings to its clients.
One can also draw his/her inference on our settlement rates by visiting our success stories and case studies.
7. What is OVLG's Customer satisfaction rate?
Collecting feedback and client's experience means a lot to OVLG. We continuously collect feedback from our clients so that we do not miss a single chance to improve upon our services. We are successful in maintaining 84% satisfaction rate.
One can view this data in our survey page.
Consumer satisfaction can also be judged from our reviews page.
8. What percentage of clients' accounts experience any legal activity for a debt that was included in the program?
Less than 8% of our clients have ever faced any legal activity such as litigation or wage garnishment.
9. What percentage of clients continues to get collection calls while in the program?
It is important to understand that debt collectors use collection calls as a tool to stimulate clients to make payments and is the reason why clients may receive such calls while in the program.
At the same time, OVLG provides education to its clients on Fair Debt Collection Practices Act (FDCPA) thereby enabling its clients to know their rights under the provisions of the act. In order to mitigate such calls, OVLG follows various strategies including prompt follow up and negotiation with the creditors.
10. Why do clients leave the program before completion?
Clients leave the program for various reasons such as their inability to come up with monthly payments (11.57%), their desire to file bankruptcy even at the cost of their credit scores (4.83%), arranging funds from kith and kin to pay off their creditors (2.76%) and unspecified reasons (5.41%).