Howard Dvorkin receiving the Horatio Alger Award on stage, holding the bronze bust and medal while congratulating fellow honorees during the formal ceremony.

In the News

When major media outlets need the perspective of a personal finance expert, they call Howard.

Holiday Shopping 2023: 7 Reasons Not To Sign Up for a Store Credit Card This Year

By: Nicole Spector | Source: Yahoo Finance

“I hate store credit cards the way the Grinch hates children’s gifts,” said Howard Dvorkin, CPA, chairman of Debt.com. “They’re so costly, they should be classified as a weapon of financial destruction.”

5 Tips to Avoid the Holiday Credit Card Trap

By: Adam Shell | Source: AARP

“These cards come with expensive offers in order to get the card into people’s hands, and that’s not by accident,” said Howard Dvorkin, a CPA and chairman of Debt.com. “It’s very enticing when you’re standing at the register and the clerk says, ‘Can I interest you in a credit card you don’t have to make payments on for a year?’ ”

Average credit card balances top $6,000, a 10-year high, as delinquencies rise

By: Jessica Dickler | Source: CNBC

“Americans are addicted to credit cards, no question,” said Howard Dvorkin, a certified public accountant and the chairman of Debt.com.

Should you get a store credit card?

By: Donna Freedman | Source: Surviving and Thriving

Howard Dvorkin, chairman of Debt.com, points out that the annual percentage rate for retail credit cards is now 28.93% on average. Some retailers go higher; for example, Michael’s and Burlington charge an APR of 33.24% on their store cards. Used correctly, though, promotions use can “be part of a smart strategy to save money on large purchases like home appliances, furniture or a new computer,” according to Dvorkin.

Credit card balances spiked in the third quarter to a $1.08 trillion record. Here’s how we got here

By: Jessica Dickler | Source: CNBC

Now, “consumers are maintaining and supporting their lifestyles using credit card debt,” said Howard Dvorkin, a certified public accountant and the chairman of Debt.com.

A risk of ‘cash stuffing:’ You may forgo ‘the easiest money you are ever going to make,’ says analyst

By: Jessica Dickler | Source: CNBC

“there is a tremendous amount of education out there,” said Howard Dvorkin, a certified public accountant and the chairman of Debt.com. “Stay away from TikTok, stay away from Instagram,” he said.

How to protect your credit score in retirement

By: Amy Fontinelle | Source: Mass Mutual

Freezing your credit used to be a costly headache, said Howard Dvorkin, CPA and chairman of Debt.com. Then, in 2018, Congress ordered the big three credit bureaus — Equifax, Experian, and TransUnion — to offer credit freezes free of charge. It became relatively simple to freeze and unfreeze your credit online. Of course, it’s not simple if you aren’t computer savvy, Dvorkin noted. “Credit freezes massively reduce the risk of identity theft, but nothing is totally effective,” Dvorkin said. “If you freeze your credit, you still need to review your credit card statements and check your credit reports annually.”

Which Has the Cheapest Groceries: BJ’s, Costco or Sam’s Club?

By: Donna Fuscaldo | Source: AARP

“The reason Sam’s Club is the least expensive of the three is because of Walmart’s buying power,” says Howard Dvorkin, chairman of Debt.com. “That said, they don’t have the premium brands Costco typically has.”

Why your credit score still matters in retirement

By: Amy Fontinelle | Source: MassMutual

“Retirees need a good credit score because they’ve retired from their jobs, not their lives,” said Howard Dvorkin, CPA and chairman of Debt.com.

‘After 3 divorces, I pretty much have nothing in the bank.’ I’m retired for medical reasons, but now taking ‘large hits’ on my money. Where do I turn for help?

By: Alisa Wolfson | Source: Market Watch

It also may be — depending on the details of your situation — that you want to declare bankruptcy, says certified public accountant (CPA), Howard Dvorkin, chairman of Debt.com. “Bankruptcy was created just for these situations, when good people are stuck in a bad place. In this instance, it doesn’t matter how diligent you are and how hard you’re willing to work to get out of debt. The blunt truth is that your physical body and your financial situation cannot be overcome by sheer force of will. You need to speak with a bankruptcy attorney,” says Dvorkin.

What happens to a co-signer when a car is repossessed?

By: Emma Woodward | Source: yahoo! finance

“Repossession is bad for both the borrower and the co-signer because both credit scores will take a hit. Late payments, loan defaults, loans sent to collections and court judgments can all be noted on the primary borrower reports and the co-signer’s reports,” says Howard Dvorkin, CPA and personal finance expert at Debt.com.

Inflation Driving Up Medical Debt, Forcing Missed Doctor Visits

By: Terry Lane | Source: Investopedia

“Medical debt doesn’t exist in a vacuum. It’s quite likely that doctor’s visits have become harder to pay because Americans have many other debts they’re juggling,” said Debt.com founder and chairperson Howard Dvorkin.