Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
Collection accounts sparkle on your credit report for 7 years and 180 days. They’re one of the worst types of negative listings on your credit report. Recent or new debt collection accounts can drop your credit score significantly.What is a debt collection account?A debt collection account is a past due account. Usually, creditors assign or sell your accounts to ...
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As time gets harder and tougher for the US debtors, an increasingly large number of debtors are turning to credit card debt settlement as the best way to put an end to their financial trouble. When the debtors pull out their finances and see that it is impossible for them to repay the entire amount with efforts of their own, they usually consider debt settlement ...
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Trusts make an important portion of your estate planning and overall wealth portfolio. The availability of several types of trusts, and their liabilities to become taxable in various ways and forms, make it very difficult to choose a trust set up, that you will be forever comfortable with. Usually trusts are made to contain huge amounts of wealth and property, and ...
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The economic situation in the country is horrendous right now. All thanks to the COVID-19 outbreak worldwide. Most companies are either shut down or employees are working from home. Economic growth has stalled, and no one knows when the situation will improve. Many have lost their jobs. Others are forced to work with a pay cut. And, amidst all these depressing ...
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The COVID-19 pandemic has given a huge blow to the economic condition across the world. Many people are fearing job losses or pay cuts as they are unable to step out of their houses! And let me tell you, this fear is quite justified. The reason being, some of the people have already lost their jobs or got a pay cut! Amidst all these, the people of our country got a ...
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The best part of filing bankruptcy is, it will stop the creditor’s harassment against debtor. No creditor can bother a debtor through phone calls, threatening letters, and lawsuits etc. As per the bankruptcy law, this is known as automatic stay. Read the FAQs to make yourself more knowledgeable regarding automatic stay violation in bankruptcy. FAQ ...
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We are helpless before nature, no matter how much technologically advanced we are. Hurricane Irma reminded us of this harsh reality yet again.Hurricane Irma removed Barbuda island from the world map, caused 11 deaths, and left 6.7 million people without power in 5 states of USA. The massive storm tore a path of destruction on the Caribbean islands and Southern Florida ...
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More and more seniors are filing bankruptcy nowadays due to various socio-economic reasons like expensive medical expenses, social security payments, and huge unsecured debts. .If you look at the numbers, you’ll find that the average age of 1 in 8 bankruptcy filers, during the period between 2013 and 2016, was 65 years. As per Robert Lawless, a senior professor at ...
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