Dvorkin On Debt

By: Gabrielle Olya | Source: GOBankingRates

“The internet is a great tool to find information — the problem is most people don’t know how to use the tool correctly when it comes to financial advice,”

By: Max Klaver | Source: Miami Herald

“A lot has to do with image,” he said, observing that South Floridians tend to “like fancy cars,” even if their checking accounts are dwindling.

By: Expert Panel, Forbes Finance Council | Source: Forbes

When you’re not feeling well and you go to the doctor, the first question is, “Where does it hurt?” The same thing happens with your debt. There’s no one cure for debt, so you need to study your budget—or create one if you haven’t already. If debt is stressing you out, consult a nonprofit credit counseling agency or a debt-solutions company. Both can diagnose the problem and recommend solutions.

By: Aly J Yale | Source: Money Watch

“What most people don’t realize is that it can cost thousands of dollars to go bankrupt,” says Howard Dvorkin, chairman of Debt.com. “It’s a court proceeding, and you need to hire a lawyer and pay filing fees.”

By: Gina Freeman | Source: U.S. News and World Report

“Of course, I’m asked all the time: ‘Why would my issuer agree to give me such a big break?’ The answer is simple. They don’t want you defaulting,” says Debt.com chairman Howard Dvorkin. “Then again, they don’t want you taking advantage of them. So, they work with nonprofit credit counseling agencies they trust.”

By: Gina Freeman | Source: U.S. News and World Report

“Hardship programs are best for cardholders who usually make timely payments but have suffered a one-time setback,” says Howard Dvorkin, chairman at debt solutions company Debt.com and a certified public accountant. “That could be an accident, illness or medical emergency that disrupts their otherwise solid finances. Short-term relief can give them enough time to get back on their feet.”

By: Cassidy Horton | Source: AOL

“Nearly two-thirds of your credit score is determined by just two factors: payment history and how much you owe,” says Howard Dvorkin, CPA and chairman of Debt.com.

By: Gabriel Vito | Source: GOBankingRates

“The problem is when you have bad credit, you’re not getting that super-low 8 to 10% interest rate,” said Howard Dvorkin, chairman of Debt.com. “In extreme cases, you might not save a dime, because the personal loan might actually charge more than the interest on your existing credit cards.”

By: Aly Yale | Source: Money Watch

“A counselor gives you an in-depth debt analysis over the phone,” says Howard Dvorkin, chairman of Debt.com. “There’s no obligation, and you hang up knowing all your options and — most importantly — creating an accurate monthly budget.”

By: Jessica Dickler | Source: CNBC

“When interest rates are high, credit card debt becomes the most expensive mistake you can make,” said Howard Dvorkin, a certified public accountant and the chairman of Debt.com.

By: Aly Yale | Source: Money Watch

“If the Fed cuts rates later this year or next, we’re not likely to see credit card interest drop dramatically,” says Howard Dvorkin, chairman of Debt.com. “Any changes will be slow and small.”

By: Sharonn Wu | Source: Money Watch

“[Consult] a professional [at] a credit counseling agency or debt solutions company,” Howard Dvorkin, chairman of Debt.com, says. “They’ve seen the worst payday loan emergencies you could imagine, so they know how to deal with them.”