Dvorkin On Debt

By: Maurie Backman | Source: US News & World Report

“You could be hit with a five-figure charge for street regrading or landscape replacement,” he says. “It can still be a money pit even if the home is sound, but the HOA is not.”

By: Melanie Lockert | Source: Newsweek Vault

“With credit card interest rates hovering around 20%, that means you’re handing $1 to someone else for every $5 you charge. That’s a huge hit to your income for zero benefit. Unlike a mortgage or car loan, that interest isn’t putting a roof over your head or driving you to work,” says Howard Dvorkin, CPA and chairman of Debt.com.

By: Maryalene LaPonsie | Source: US News & World Report

“Everyone knows what they make gross, but what ends up in your paycheck could be very different,” says Howard Dvorkin, a CPA and chairman of Debt.com. Review your earnings statements to determine your net pay after taxes and deductions, then create your spending plan based on that figure.

By: Alisa Wolfson | Source: Market Watch

“Investigate nonprofit organizations and community centers like the United Way or Legal Aid that may offer free counseling to low-income individuals. Start by researching local nonprofits that focus on financial literacy and assistance and even government agencies like the Department of Housing and Urban Development that offer free or low-cost financial counseling services,”

By: Megan DeMatteo | Source: Sherwood News

“Most medical debt results from a single serious illness or condition,” Dvorkin said. For someone who normally pays bills on time and has disposable income, medical debt on their record could be “distorting their actual creditworthiness.”

By: Yael Bizouati-Kennedy | Source: Yahoo Finance

“Many people might not have heard of Poughkeepsie, but it’s 12% more expensive to live there than the national average,” he said, citing ERI Economic Research Institute data. “Most of our money goes to food and shelter, so where you live determines how much you spend — and if you save,” Dvorkin said. “So, there’s no mystery here. But don’t forget peer pressure. If you live in an expensive city, you’ll feel compelled to look successful so you can fit in. S

By: Geoff Williams

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, says Howard Dvorkin, a CPA and chairman of Debt.com. “Your bank or credit union probably offer free online budgeting tools that can help you squeeze every last dime from your income. And nonprofit credit counseling agencies often offer free, in-depth debt analysis over the phone,” he adds. “Do-it-yourself solutions are mostly played out,” he says. “There are only so many coupon and gasoline apps you can download.”

By: Aly Yale | Source: Money Watch – CBS News

“The best way to pay as little as possible is to work with a debt professional who can get you on a debt management or debt settlement program,” says Howard Dvorkin, chairman of Debt.com. “A debt management plan can cut your total debt payment by up to half by reducing or eliminating the interest rates.”

By: John Morales and Glen Lewerenz | Source: Relevant Radio

It’s tough to start out as a young person. The American Dream is going to be very difficult for Gen Z to obtain. Moving out of mom and dad’s house is going to be a struggle.

By: Aly Yale | Source: CBS News MoneyWatch

“Yes, in the very short term your credit score may drop, but if you make payments on time and in full, your score will soon rise,”

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.”

By: Alisa Wolfson | Source: MarketWatch

“I’ve had clients who drive for miles to find the cheapest gas, but they don’t put in the same effort to find an affordable mortgage. The reason is simple, homebuying is complicated and it’s easy to get overwhelmed to the point that you simply rely on your bank for a mortgage,” s