Financial News Features

Howard Dvorkin, CPA, chairman of Debt.com, agrees, noting that it could be worth it to try to appeal the eviction. “The process varies by state, but at the very least, it can buy you more time. In Massachusetts, for example, you have 10 days to appeal after a court orders your eviction,” he said.

Howard Dvorkin, CPA, advises, “Contact your landlord to discuss a deferred payment plan. This is worth a shot as most landlords do not want to pay a fee to file a lawsuit, go to court — especially with COVID still spreading — and go through the expense and hassle of finding a new tenant.”

Howard Dvorkin, CPA, chairman of Debt.com explains, “If you get evicted, your credit score won’t take a direct hit, but the glancing blow will still sink you.” That’s because evictions go into public records, Dvoskin explains. “Many landlords now do background checks on their potential tenants,” he says. “Good luck getting that affordable lease if your new landlord finds that eviction judgment.”

“Debt that affects someone’s shelter and security, such as mortgage debt, should be looked at first,” said Howard Dvorkin, CPA, personal finance expert and chairman of Debt.com. “Credit card, medical and student loan debt can be looked at afterward.”

In an April survey of more than 1,000 Americans by financial adviser website Debt.com, 80 per cent said they have a budget. The survey found that 88 per cent of respondents who budget managed to stay out of debt. Users are not budgeting for minor expenses such as coffee shop runs, but are instead doing so for holidays and special events before time.

Howard Dvorkin, CPA, the chairman of Debt.com, says, “Paying rent with a credit card can either be profitable or dangerous, depending on your [level of financial] discipline. If you always pay your bills on time, then using a rewards card can rack up thousands of extra points per year. But if you carry a balance and sometimes forget to make timely payments, then you’ll end up paying steep interest on top of your steep rent.”