Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
With growing debt issues in the US, bankruptcy has become a commonplace event. Ranging from an impoverished credit score to social disgrace, bankruptcy has several major and minor implications in one’s financial, personal and social life. But does bankruptcy have any effect on one’s immigration status in the US? Well, the answer to this has dual facets to it ...
Read more
The influence of bad debts on income taxes is a matter of serious concern among tax payers. The intricacies are often confused as many are not aware of the way things are carried out. A bad debt is a result of either actual money loaned or a loss on any earlier reported income. If you want to know the ways to deduct or cancel a bad debt on your tax return, you must ...
Read more
Bankruptcy is, more often than not, a result of terrible financial crisis and one’s inability to cover insurmountable obligations. It is commonly deemed a crash of one’s financial stability and credibility forever. Well, it indeed isn’t a pleasant thing for anybody. But the very idea that a bankrupt is no better than a financial outcast is perhaps a little ...
Read more
Taxes are a major issue for the tax payers when IRS comes into question. It is generally the case that the IRS is not very lenient in forgiving taxes of the tax payers. The financial conditions of the taxpayers are not taken under consideration by the IRS. As such if you owe taxes on your debts you are required to pay them back. If you default on the taxes you can be ...
Read more
With rise in your tax debt problems your personal problems also tend to increase. There are a number of personal problems that act as the major reason behind tax debt problems. Some of these are accidents, failure of a business venture, divorces and many more. Many of these may be emergencies that you had not thought of previously. If you are looking out for ...
Read more
Tax debts are grave issues and evading taxes owed to the IRS is next to impossible. While private lenders will take legal course of action to extract payment from you, the IRS will take more stern measures to ensure that you pay your taxes. The IRS might be strict but definitely not inconsiderate. If you are in some serious financial trouble but are willing to clear ...
Read more
The humane issue of Corporate Social Responsibility (CSR), which was reinforced with OVLG’s money refund policy, received overwhelming responses from people. Recently, OVLG had initiated a discussion on Facebook regarding the importance of CSR in corporate arena and invited people’s opinion about the same. The response that OVLG received was greatly ...
Read more
The art of misuse of credit cards has entangled many in the webs of debts. You may have looked out for options, even considered filing bankruptcy, but to no effect. If you want to come out of this dire financial crisis without having to face the ill effects of bankruptcy, here are some things to consider: If you are sinking deeper and deeper in debt and are unable to ...
Read more
