Financial News Features

Howard Dvorkin, CPA and chairman of Debt.com, says in a Q&A on that website that most scholarships don’t check how recipients use the money. However, he adds that scholarships usually don’t help pay off student loans, since you have to be enrolled in college to get a scholarship.

“If you’re fed up with bank fees, you’ll really hate P2P loans,” says Howard Dvorkin, CPA and Chairman of Debt.com. “On top of the interest rate you’ll pay, there’s the origination fee, which can be as low as 1 percent but as high as 8 percent. That’s much more than a bank or credit union will charge you for a personal loan.”

For now, Howard Dvorkin, a CPA, says that credit cards still offer more value that BNPL services can't replace. "While in some cases BNPL offers free financing with no interest or fees, the service lacks the ability to give you any rewards you would obtain for your purchase from using a credit card like cash back, points, or miles," says Dvorkin.

“These sound like boring answers to the heavy question of financial security during scary times,” says Howard Dvorkin, CPA and chairman of Debt.com, “but too many people overreact and take big risks instead of checking first to see if they’ve done all the basics.”

“People have gotten used to Zoom meetings, but that’s still no substitute for shaking hands and seeing someone in a social setting,” says Howard Dvorkin, a New Jersey-based certified public accountant and chairman of Debt.com. “That being said, they’re still going to evaluate whether travel is necessary.”

“People are buying ‘wants’ not ‘needs,’” said Howard Dvorkin, CPA and chairperson of Debt.com.