Dvorkin On Debt

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.”

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.”

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.

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.

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.

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.

By: Yaёl Bizouati-Kennedy | Source: yahoo!finance

The only way a small business can truly protect itself from these rate hikes is to go into “turtle mode,” said Howard Dvorkin, CPA and chairman of Debt.com. “Shelve plans to expand your business unless you’re damned sure you can outrun these rate hikes. Focus on efficiency instead of growth. Lock down your current client base so your numbers become predictable enough to weather the storm — and hope like hell the storm passes quickly.”

By: Yaёl Bizouati-Kennedy | Source: yahoo!finance

“The IRA isn’t open-heart surgery for inflation,” said Howard Dvorkin, CPA, founder and chairman of Debt.com. “It’s not that dramatic. Think of it like taking a daily baby aspirin to prevent a heart attack. Many IRA provisions won’t show up in your wallet after one year, but they probably stopped your finances from getting worse.”

By: Hilary Powell | Source: CBN

People are subsidizing their normal costs, their normal living expenses, using the credit cards. So maybe things were great three years ago. But now with the inflated expenses for groceries and fuel, and all the other expenses – and travel I have to say because the airports are very busy – they’re using credit cards to pay for it.

By: Nora Colomer | Source: Fox Business

“You can’t get out of debt if you don’t understand what’s keeping you there,” Debt.com’s chairman Howard Dvorkin said. “And you certainly can’t get out of debt if you don’t even know the options you have.”

By: Megan Cerullo | Source: CBS News

“A lot of times, medical providers’ prices are wacky,” Howard Dvorkin, a certified public accountant and chairman of Debt.com, told CBS MoneyWatch. Dvorkin recalls receiving a bill for a medical incident that required his daughter to be airlifted for treatment. The initial total? $18,000. He asked the treatment provider what rate they would have billed his insurance company and said: “That’s the rate I’ll pay.”

By: Emma Woodward | Source: Yahoo! Finance

“Think of a credit repair company like you’d think of a tax preparer. Sure, you can do your own income taxes, but sometimes it’s worth the money to hire a professional,” says Howard Dvorkin, CPA and chairman of Debt.com.