When major media outlets need the perspective of a personal finance expert, they call Howard.
By: Aly Yale | Source: CBS News MoneyWatch
“Creditors are generally reluctant to forgive debts, as it results in financial losses for them,” says Howard Dvorkin, chairman of Debt.com. “However, in situations where the debtor demonstrates significant financial hardship and the likelihood of full repayment is low, creditors might consider forgiveness as a viable option.”
By: Emily Bloch | Source: The Philadelphia Inquirer
“Even on big-ticket items like cars and computers, it’s nearly impossible to predict how prices will be affected,” said Howard Dvorkin, CPA and chairman of Debt.com. “In our global economy, almost everything with moving parts has components sourced from multiple countries. Cars and computers aren’t like cookies and crackers — they don’t come with a list of ingredients. Good luck trying to figure out how those overseas components will raise the overall price of that laptop you want.”
By: Kiplinger Advisor Collective | Source: Kiplinger
“The holidays are the one time of year when your children might be motivated to think about budgeting. Kids love holiday parties and trips, so show them your holiday budget and ask for their input. How would they spend this limited amount of money on gifts for the family? On a party? On travel? Not only can you save a few bucks, but you’ll also teach your children lessons that are literally invaluable.”
By: Martin Dasko | Source: GOBankingRates
“Go to an ATM and withdraw cold, hard cash. Use that instead,” he elaborated. “You won’t have to worry about identity theft, and you’ll save way more than you would earn in credit card reward points. “The reason is simple: It’s really, really hard to hand over cash. You’ll spend much less if you have to hand over multiple bills instead of a single piece of plastic.”
By: Kiplinger Advisor Collective | Source: Kiplinger
“Even if you’re handy with home repair, you probably wouldn’t do a total kitchen renovation by yourself. The same thing goes for building a solid retirement income strategy. This isn’t simply investing in the market. You must balance principal preservation, guaranteed income and growth potential to ward off inflation. You need an expert who does this for a living so you can live the life you want.”
By: Kiplinger Advisor Collective | Source: Kiplinger
“A lot of your credit score is determined by ‘payment history.’ That just means, ‘Do you pay your bills on time?’ It represents 35% of your score. The second-biggest factor is how much you owe. If you carry hefty credit card balances, your score drops. That’s another 30%. Add them up, and it’s nearly two-thirds of your score. Focus on those two things, and you’ll be just fine.”
By: Jessica Dickler | Source: CNBC
Still, “if you have five credit cards [with utilization rates around] 20%, you have a lot of debt out there,” said Howard Dvorkin, a certified public accountant and the chairman of Debt.com. “People are living a life that they can’t afford right now, and they are putting the balance on credit cards.”
By: Emma Woodward | Source: Bankrate
“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.”
By: Jessica Dickler | Source: CNBC
Yet, buy now, pay later loans “are just another form of credit, disguised as something for free,” said Howard Dvorkin, a certified public accountant and the chairman of Debt.com. “This is just another way for financers to put their hands in the pocket of consumers,” Dvorkin said. “It’s a trojan horse.”
By: Erica Sandberg | Source: Bankrate
If your card’s limit was reduced due to account dormancy, pick it up and start using it, says Howard Dvorkin, a New Jersey-based CPA and chairman of Debt.com. “After you make a few charges, they may change their mind.” “Remember, it’s not a personal insult,” says Dvorkin. “It’s a business decision.”
By: Beth Deyo | Source: Bankrate
“If they report and you go out and get five of these loans, it looks like you’re desperate for credit,” says Howard Dvorkin, CPA and chairman of Debt.com. “You have to be very careful.” “If you can’t afford it, don’t buy it,” he advises.
By: Brittany Wren | Source: Bankrate
“When people think about do-it-yourself (DIY) gifts, their minds often wander to something underwhelming: a homemade card and an ugly knitted sweater,” says Howard Dvorkin, CPA and chairman of Debt.com. “But DIY can also be more valuable than any store-bought present. These can include a home-cooked meal and a total house or car cleaning.”