Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
We think of personal finance as something that exists in a vacuum, apart from the economy. However national financial policies—especially those dealing with the national debt and debt ceiling—can, in fact, impact each of us individually through debt, taxes, inflation and even job security. Over the past couple of years, we have seen how personal finance and national policy intersect.
Read more
Retirement planning is one of the most important financial decisions that you will make in life. However, most individuals commit common budgeting mistakes that can blow their retirement. Knowing and fixing those mistakes will help you to build a solid financial foundation for your golden years.
Read more
Balance transfer credit cards are a game changer for those with high-interest credit card debt. You’re staring at your credit card statements and realize the minimum payments barely chip away at the principal balance. According to the Federal Reserve’s Consumer Credit Report, the credit card debt has reached $1.17 trillion nationwide and many Americans are looking for ways to manage their ballooning balances.
Read more
As the saying goes: “In this world, nothing can be said to be certain, except death and taxes.” But what about the taxes that creep up on you, quietly changing the landscape of your retirement savings without you even knowing it? Enter tax changes—those changes in the law that can impact your 401(k) and IRA savings big time.
Read more
The holiday season is wonderful and fun but it also brings big financial challenges. According to a 2024 Deloitte survey, holiday spending is expected to be $1,638 per American household, a 7% increase from 2023[1]. This is driven by higher-income households and spending on experiences, travel and entertainment.
Read more
Debt Forgiveness or repaying your loan can be a lifeline if the repayments overwhelm you. Many such programs reduce or eliminate the amount owed if you engage in public service, military duty, or volunteer work. For example, the federal government has student loan forgiveness programs that allow borrowers to waive huge parts of their debt based on certain conditions.
Read more
Supplemental Security Income (SSI) is a federal program administered by the Social Security Administration (SSA) that provides financial assistance for those over 65, blind, or disabled with limited income and resources. Although SSI benefits were intended to help a person manage his essential expenses, managing money on a fixed income poses a challenge.
Read more
Collection accounts contribute to your payment history, which comprises about 35% of your credit score. Your credit report is a component of your financial health and holds every bit of power loan approvals to interest rates. The presence of collection accounts can be pretty negative and so understanding how long these accounts will appear on your report and how these affect your credit scores is essential to healthy financial decision-making.
Read more
