COVID-19: Debt.com advises financial quarantine
In this fluid situation, Debt.com experts want people to focus on three issues initially for maintaining financial health:
- Quarantine finances – The volatility of the market is unavoidable, but that doesn’t mean people should cash out on their retirement plans or long-term savings. Focus on current cash flow and short-term stability, and keep a distance from other long-term accounts.
- Recognize fraud – It’s sad but true that every tragedy is an opportunity for scammers. Already, many standard online, phone and email scams have been updated to prey on our fears of COVID-19. These range from selling “COVID-killing cleaning supplies” that are little more than dish soap to fake charities that purport to help victims but actually pocket your donations.
- Seek the right help – There’s no shortage of excellent advice from personal finance experts. However, there’s less credible and proven advice on how to handle specific forms of debt for the duration of the COVID-19 shutdowns. That’s where certified financial experts can help.
“Industry professionals know which creditors have extended deadlines and are offering extended terms. They know existing rules and laws that allow you to juggle limited resources until the emergency has passed. They can advise you when and if to borrow against retirement accounts or secure home equity lines of credit,” says Debt.com Chairman and CPA Howard Dvorkin.
Americans are struggling with their finances and those who are having trouble paying their debts should consult financial experts just as those worried about COVID-19 should consult health experts by calling Debt.com’s hotline at 1-844-402-3574.
“Because we’re a one-stop shop for debt solutions, I believe we can help anyone quickly by providing the best advice and service,” Dvorkin says. “But in tragic situations like this, I care more about Americans calling someone – anyone – who can help.”
About: Debt.com is the consumer website where people can find help with credit card debt, student loan debt, tax debt, credit repair, bankruptcy, and more. Debt.com works with vetted and certified providers that give the best advice and solutions for consumers ‘when life happens’.