11 Easy Ways to Spot a Get Out of Debt Scam
Have debt worries? Here is how to avoid being swindled.
The “Get Out of Debt Guy” cites research showing people want to pay their debts off online and quotes Debt.com chairman Howard Dvorkin on how that can work.
Forbes writer Steve Olenski explores everything from Dvorkin’s origins as a CPA in Washington DC to “groundbreaking” discussions of debt in America to his concept for Debt.com.
Debt.com chairman Howard Dvorkin explains how retailers think so you can use that knowledge to save yourself some money.
Two years after leaving school, students default on their federal loans at a rate of 9.1%, according to a 2013 report by the New York Federal Reserve. That figure jumps to 13.4% at the three-year mark.
Debt.com developed an interactive map,which shows the ‘best bang for vets’ buck in every state — taking into consideration the quality of the school, the housing allowance provided from the Post 9/11 GI Bill, plus the cost of living and safety of nearby neighborhoods.
I’ve been helping people with problem debt for decades and for that entire time, a constant question has been the guilt or demand to donate when dealing with debt. It’s a loaded subject.
The problem with many identify theft protection and credit monitoring companies is that they simply don’t offer the services necessary to fully protect a consumer, says Howard Dvorkin, author of Credit Hell: How to Dig Out of Debt, “For example, many don’t offer insurance, fraud alerts or proper customer assistance,” he says. Be clear if you are buying a service that is reactive, meaning they help you out once you’ve been victimized, or whether it is preventive, they take steps to make it tougher for cyber criminals to have their way with your information.
“Credit cards are not designed to use for emergencies,” says Howard Dvorkin, founder of Consolidated Credit and the author of “Power Up: Taking Charge of Your Financial Destiny.” “It’s like using a hammer to do a screwdriver’s work. Something’s going to get broken, and in this case it’s the consumer’s finances.”
“Credit cards are not designed to use for emergencies,” says Howard Dvorkin, founder of Consolidated Credit and the author of Power Up: Taking Charge of Your Financial Destiny. “It’s like using a hammer to do a screwdriver’s work. Something’s going to get …
Secured cards have annual fees and higher interest rates than unsecured cards, so some experts recommend them only as a stepping stone to a traditional credit card. Howard Dvorkin, chairman of Debt.com, warns secured credit cards are like the good, the bad, and the ugly: “Some are good. They have low fees and treat customers as customers instead of as cattle. The bad ones take advantage and extort the clients because of their situations. Then there’s the ugly, which are completely despicable. They’ll give you the card, but you have to buy this insurance policy for $55 a month.”
Debt.com crunched the numbers to see how tax refunds stack up state by state. These 10 have some of the biggest, and smallest.
To get an idea of just how much you can expect back, Debt.com created a map using data from the IRS that shows the average tax return in each state.
The economy may be improving, but it’s still not great — and some places make it easier to stretch your dollar than others. Debt.com’s ranking of the best and worst cities to save money in the U.S. helps demystify the whole thing, though, offering data on 100 cities all over the country.
The ability to save doesn’t just depend on your income — it’s your income versus your costs that really matters. And in some US cities, the cost of living is much more manageable than in others.
It’s no small matter either, says Howard Dvorkin, CPA and author of Credit Hell, that, “Individuals lose the freedom to manage their own money and both people have to rely on each other be financially responsible.”
Researchers at Debt.com were curious after seeing previous academic research that shows the negative impact of debt on both mental and physical health.
So, you just graduated. Congratulations! Now could be the perfect time to start a business or buy a franchise, assuming you’ve got the energy and passion to do so. Of course, starting a business takes money — and with student loans and other bills your wallet might be feeling a little light. These discounts can help.
Lent officially begins today, with Ash Wednesday kicking off 40 days of prayer, penance and self-sacrifice. Why not give up something unnecessary in your life that’s been a drain on your wallet?
Just 23% of all point-of-sale purchases will be made with cash by 2017 … choose one that has the lowest fees — as long as they still have good service. Howard Dvorkin, a certified public accountant and chairman of Debt.com, says merchants should …
The magic of the holidays is over — now it’s all about the bills. According to an Experian Consumer Services survey, 70 percent of those polled planned to use credit for the more than $750 they estimated spending. Instead of wallowing in regret, commit to repaying holiday debt by March.
Entrepreneurs need motivation by the bucketful, but some days it’s easier to stir up than others. It’s fantastic to have big, long-term goals, but don’t underestimate the power of little, daily ones.
Lots of people go shopping for presents this time of year, but if you’re a current or former student who has student debt to keep in mind, that can really bust your wallet. Debt.com cranked out the numbers and came up with an idea: what if all that money went to Santa for holiday shopping?
Transferring a balance from a credit card with a high annual percentage rate to one with a lower rate could save you a bucket of cash. You could, for example, save $750 by moving a $5,000 balance from a card with an 18% rate to one that charges zero interest for 12 months.
Six of the 10 states with the highest debt loads are located in the Northeast. New Hampshire topped the list, with graduates leaving school with an average $32,795, about 11 percent higher than the national average of $28,400. The state is home to a number of private schools, including Dartmouth College, with tuition, room and board exceeding $40,000 a year.
Some of the most prestigious colleges in the country are along the eastern seaboard, but if you want to graduate without massive debt, Louisiana is one of the states that fares well when it comes to average student loan debt.
A new report is revealing which states have the worst student debt for college graduates. A map was created using data from the Department of Education and several other sources. The interactive map from debt.com lists the average debt for graduating seniors from colleges in each state. Michigan comes in at number 8 with the average debt of just below $30,000. Indiana is at umber 16 position with just over $28,000 of debt.
A college degree is still immensely valuable in America, boosting lifetime earnings for people that have one. But for many students, the trade-off for getting a degree is an enormous pile of student-loan debt. This interactive map, built by Debt.com, a personal finance website, displays data by state on the average student debt load of graduating seniors from colleges in each state.
Student debt continues to grow across the country, but one study shows that not all states are equal in repaying student loans. Debt.com, a personal finance website, recently released a state-by-state layout of student loan debt with Alabama ranking as the 12th worst state for student loan debt.
If you’re left-handed, a natural redhead, or a skilled duck caller, you might be able to get a scholarship because of it. Debt.com’s scholarship infographic, published on Business Insider, shows how your height, name, or random hobby could translate into money towards your education. It also mentions our scholarship that awards $500 to “aggressive applicants.” To apply, you just need to show proof of the other scholarships you’ve applied to!
Black Enterprise online promotes Debt.com’s infographic about what you could buy with the nation’s student loan debt. Have you ever wondered what you could buy with all the student loan debt in the United States? Well, wonder no more. Personal finance website Debt.com has released a new infographic showing exactly what you could purchase if someone owed you $1 trillion.
The Huffington Post promotes Debt.com’s 3 Easy Steps to Avoid End-of-Year Debt in an article for entrepreneurs on how to create cash reserves and manage finances. The post points out that not all entrepreneurs are able to manage their finances because not everyone is familiar with areas like accounting. They recommend five tips to assist business owners.
Starting a new business requires a lot of money up front and often involves quite a bit of financial risk. Howard Dvorkin, CPA and Chairman of Debt.com offers advice to INC. Magazine about how to manage money effectively and to find ways to cut back without sacrificing vital elements that make a business successful.
Anne Fisher of Fortune Magazine speaks with Howard Dvorkin, CPA and personal finance expert for Debt.com about the best way to fight back against collection agencies’ aggressive tactics.
Howard Dvorkin, CPA and Chairman of Debt.com speaks to the Sun-Sentinel about how nearly four out of 10 South Floridians with a credit history have a debt in collections.
But what if you want to go on a real vacation? According to Howard Dvorkin, CPA and personal finance author from Debt.com, there are 3 easy steps to planning a debt-free vacation.
By Matthew Ong | Aug. 11, 2014
Before hitting the school supply aisles, Matt Ong speaks with Debt.com Chairman Howard Dvorkin to find out how to save more money this back-to-school season.