Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
Bankruptcy can discharge you of your obligation to payback a secured loan. However, if a creditor puts a lien on your property, then it’ll survive your Chapter 7 bankruptcy discharge, provided you’ve not returned the concerned property to the concerned creditor.What do you mean by a lien?Lien is created by a creditor or any one that has a security interest over ...
Read more
Both chapter 13 bankruptcy and debt settlement are good options to help you tackle debts. But there are situations when even the most intelligent mind fails to understand which option is the most suitable one, Chapter 13 or debt settlement? But before I begin, I want to clear one thing: Why do people avoid bankruptcy? The answer is highly obvious ...
Read more
The simple answer is you can check your credit report as many times you want, and this won’t make a negative impact on your credit score. You can check your payment history, credit history, hard inquiries, and soft inquiries annually unless a specific reason calls for it. You can order a free copy of your credit report from Equifax, TransUnion, and Experian once a ...
Read more
Using credit cards is always a costly decision, even though we use it for our daily purchases and need it every now and then! Even though it’s better to use debit cards (only swipe it at authorised stores) or liquid cash for day-to-day transactions, still that’s not always possible. To be honest, credit cards are the most convenient way to pay for our purchases ...
Read more
It’s quite difficult to discharge personal student loans through bankruptcy. As students are aware of the fact that credit card debts can be discharged in bankruptcy, many of them believe that it is also possible to ditch their student loan debts in bankruptcy. Yes, it’s possible but unless you manage properly, the obligation can carry forward for a long time ...
Read more
The festive season begins with Halloween. But many people flinch at the word ‘halloween’ since they fear what’s coming - long bills.This year, try something different. Instead of incurring huge credit card debts on Halloween, try to bring fresh cash inside the house. Just use these 10 tricks. I’m sure you’ll have lots of money for your Black Friday shopping. ...
Read more
In the post “IRS guidelines to choose a tax preparer”, I have talked about how you can select a good tax preparer for yourself. Usually, a tax preparer charges a fee on the basis of the complexity of your tax return and completeness of your information. Some tax preparers even charge an additional fee when you don’t have proper records of your income and ...
Read more
It’s not a matter of joke to achieve financial milestones in your 20s. You need to practice good financial habits and be proactive to attain financial success. Laidback attitude would take you nowhere.Here are the financial breakthroughs you should certainly make in your 20s:1. Getting your first job: You’re done with college. Now, it’s time to focus on your ...
Read more
