Dvorkin On Debt

By: Brian O’Connell | Source: TheStreet

“Just because an announcement to eliminate junk fees was made doesn’t mean all banks may comply in all cases,” says Dvorkin. “Banking consumers should conduct a quick internet search for their account fees. If they’ve already been hit with junk fees, they should call their bank and try to get them waived.”

By: Lyle Solomon | Source: Nasdaq

Debt.com polled a thousand Americans, and most participants said that they are now tracking their finances, and their budgeting habit has helped them get out and stay out of debt.

By: Adam West | Source: CardRates.com

“Sometimes people with poor credit scores don’t get jobs. Because their job is offered on their ability to handle their finances, and a poor credit score shows that they can’t,” Dvorkin said.

By: Megan Cerullo | Source: CBS News

“Consumers are going to spend as much as they did last season, but they are limiting the people they’re spending on. They only have a certain amount of money, so they have to tighten that list of who they’re buying presents for,” said Howard Dvorkin, chairman of Debt.com. “Because of the increased pricing, their dollars won’t go as far as they did last year.”

By: John Egan | Source: Bankrate

“CPAs and doctors have one thing in common,” says CPA Howard Dvorkin, chairman of Debt.com. “We see the same symptoms in people. Headaches, ulcers, high blood pressure, chest pain, obesity, anxiety, depression, panic attacks. You name it, I’ve seen it.”

By: Brian O’Connell | Source: The Street

Some of that speculation falls into the eye-opening category.Debt.com Chairman Howard Dvorkin has been tracking BNPL trends since the buy now, pay later revolution broke out. Here’s his outlook on what’s next with BNPL.

By: Deb Gordon | Source: Forbes

“Medical debt is often the most depressing and stressful kind, because you or a loved one just endured a health scare—only to face huge bills you can’t afford,” said Howard Dvorkin, CPA, chairman of Debt.com. “You’re already fragile, either physically or emotionally, and often both. Pile medical debt on top of that, and it can crush anyone’s resolve.”

By: Geoff Williams | Source: U.S. News & World Report

And if you feel like it’s professional financial help you need for your money stress rather than a therapist, there are free places to go for that as well, says Howard Dvorkin, a certified public accountant and chairman of the debt education website, Debt.com. “There’s no shortage of free assistance,” Dvorkin says. “Your bank or credit union probably offer free online budgeting tools that can help you squeeze every last dime from your income. Nonprofit credit counseling agencies … offer you a free, in-depth debt analysis over the phone.”

By: Brian O’Connell | Source: The Street

One problem is the late payment fees, which can amount to 25% of the total purchase fees. “With any BNPL, you don’t want to be tardy,” said Howard Dvorkin, chairman of Debt.com. “That will eat up any savings.”

By: Nicole Spector | Source: Yahoo!finance

According to Howard Dvorkin, CPA and chairman of Debt.com, the first step to tackling debt is to take a full inventory of your debts. “Know how much is owed, to whom and where (you) are with payments,” he said.

By: Cynthia Measom | Source: GOBankingRates

A 2022 Debt.com survey found that 86% of people track their monthly income and expenses, up from 80% in 2021 and 2020 and roughly 70% pre-pandemic.

By: Brian O’Connell | Source: The Street

“Don’t confuse ‘anxiety’ with ‘insolvency,’” said Howard Dvorkin, chairman of Debt.com and a financial counselor for nearly three decades. “I’ve noticed that the more you earn, the more you worry about the economy.”