by admin on April 19, 2011
Are you aware that law firms also offer debt relief services? If you are skeptical about hiring debt settlement companies, then law firms can be a suitable alternative. One such law firm is Oak View Law Group (OVLG). It offers legal services to consumers across the U.S. Let’s take a look at some important facts about OVLG.
OVLG-affiliations and accreditations
This law firm is registered with California State bar Association. It is also a member of the Better Business Bureau (BBB). OVLG has a B- rating with the BBB, which
is satisfactory (as stated on the BBB website). It is also a member of the American association of credit counselors (AACC).
Debt relief solutions
1. Bankruptcy- OVLG offers attorney services for chapter 7 and Chapter 13 bankruptcy
cases.
2. Budgeting and bill pay.
3. Interest rate negotiation.
4. Debt consolidation services.
5. Principal as well as interest rate negotiation.
Other services by OVLG include company formation, wills and trust, defamation protection etc.
Fee structure and Transparency
Consumers can visit the fee structure page of www.ovlg.com to get an idea about the fees charged. OVLG claims that the fees mentioned on their website are all inclusive and
there are no hidden fees. This is impressive if you consider that few debt relief companies are open about the fees they charge.
Ovlg.com also has a disclosure page, which has crucial information about their services. OVLG claims that they are following FTC telemarketing guidelines through this disclosure.
Customer feedback
Truslink.org, a BBB sponsored community, is one of the most reliable places to check customer feedback. OVLG has a four star rating at Trustlink based on consumer voting.
At Trustlink, most reviews of OVLG are fairly positive. Also, OVLG has 350 (approx.) video testimonials, which inspires confidence.
Client education and convenience
Ovlg.com has a huge number of informative and relevant articles. This law firm also offers counseling before enrollment to increase consumer awareness. However,
you cannot use the calculator on their website without signing up. This can be pretty annoying. Moreover, there is no budgeting tool even for their clients.
You can get in touch with OVLG at 800 530 6854 (toll free). Remember that it is important for you to clear all doubts before choosing a company.
by admin on March 23, 2011
Consumer debt is weighing heavily on the Americans. According to a recent estimate by the Federal Reserve, consumer debt stands at $2.4 trillion in the U.S. Actually, reckless spending and indiscreet use of credit cards are pushing millions of Americans into debt.
Many debt-stricken consumers consider debt consolidation as a possible solution to their financial troubles. Does debt consolidation really work? Let’s discuss.
What is debt consolidation?
Do you have several credit card debts? If yes, then approach a financial institution and apply for a consolidation loan. Next, clear all your debts with this loan. Quite clearly, you are borrowing to pay off your debts. How does this help you?
What are the advantages of debt consolidation?
Are you tired of paying too many bills every month? Stop worrying. Consolidate your debt and make a single payment every month. Credit cards have extremely high interest rates. Moreover, when you miss your payments, interest and penalties are charged. This makes the situation pretty bad. If you opt for secure debt consolidation, the interest rate will be substantially lower. Even unsecured consolidation loans have lower interest rate than credit cards.
Debt consolidation involves affordable monthly payments. This can be a great advantage for the debtors if you consider that it is high monthly payments which pushed them into debt.
Does debt consolidation hurt your credit score?
You should understand that your credit rating takes a hit only if you enroll in a debt reduction program. For instance, filing bankruptcy would hurt your credit because it wipes out your debt. In case of debt consolidation, the creditors get all their money back. Therefore, your credit score does not suffer seriously.
Nonetheless, there can be some minor negative remarks on your credit report because you are defaulting on the original payment plan. You can easily repair this damage by paying your bills regularly.
Are you eligible for debt consolidation?
It is not very easy to qualify for a consolidation loan. The banks are not comfortable lending to people who have missed too many payments. Often, debtors have to opt for secured loans to consolidate debt.
Debt consolidation can certainly get you out of debt. However, you should know that debt consolidation works best if your debts are well under control. Moreover, debt consolidation cannot eliminate secured debts like mortgage. So make your plans accordingly.
