Dvorkin On Debt

By: Ben Luthi, Melanie Pincus & Jasmin Baron | Source: CNN Underscored

“Sometimes, these offers only apply if you use the check to transfer a balance to that particular card,” “If you deposit the check into your bank account, you could be paying upwards of 20% interest plus fees.”

By: Emma Woodward | Source: Bankrate

“If you’re fed up with bank fees, you’ll really hate P2P loans,” “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: Adriana Morga | Source: Florida Realtors

“You should talk about money, lifestyle, goals and dreams,” he said. “Because (money) affects your dreams, and if you go into a relationship with debt, your dreams may be altered.”

By: Heather Taylor | Source: Go Banking Rates

“They’re not usually the type to download the latest hot app, but they have become more comfortable with online budgeting programs that safely do the heavy lifting for you,” said Dvorkin. “Many banks and credit unions are also getting in on the act, offering many budgeting tools on their websites. There’s literally no excuse for not budgeting — because a computer will do the math for you.”

By: Pete Grieve | Source: Money

“If you’re forced to take a loan out right now, it probably should be a variable, in my opinion,” says Howard Dvorkin, founder of Debt.com.

By: Aly Yale | Source: CBS News MoneyWatch

“If you have less than $5,000 in debt and a steady income, you should consider whether you can try to pay that off with a little discipline and mild sacrifice,” says Howard Dvorkin, chairman of Debt.com. “Debt relief programs aren’t free, because those experts you’re consulting need to earn a salary, too. So, it only makes sense if you have significant debt, you just can’t pay down on your own.”

By: Aly Yale | Source: CBS News MoneyWatch

“Debt relief is a broad term, encompassing a number of solutions,” says Howard Dvorkin, chairman of Debt.com. “It’s kind of like asking, ‘What is a diet?’ There are as many ways to shed debt as there are to shed weight.”

By: Cassidy Horton and Ashley Barnett | Source: USA Today

“If you have access to a 401(k),” said Howard Dvorkin, chairman at Debt.com, “then that’s easily the most lucrative safe space for your hard-earned cash.”

By: Holly Johnson, Ali Cybulski & Adam McFadden | Source: CNN Underscored

“Start with the check’s issuing bank — the name of the bank printed on the check — if you need to cash a check without a bank account. For example, a check from someone who banks at Chase could be cashed at your local Chase branch, if one is available,” “The account needs to have enough money in the payer’s account to cover it, and the payee will need to show a government-issued ID to cash the check,”

By: Hanneh Bareham | Source: Bankrate

“I can only speculate why defaults are suddenly up in this age group, but I wonder if student loans play a part,” “After three years of frozen payments due to the pandemic, October marked the thaw. Coupled with inflation, that could be the one-two punch that drove up defaults,”

By: Laura Gariepy | Source: Credible

“First, [the lender] can charge you a percentage of your loan balance. That’s usually around 2%,” he said. “Second, they can charge you a flat fee. Or third — and worst of all — they can actually charge you all the interest you’re saving by paying early.” “You don’t have to think so big. You can also pay off your loan early by nibbling away at it every month.”