Are you having money troubles because of the COVID-19 outbreak?
Here’s a list of places where you can get help, compiled by the state Department of Banking and Securities.
If you are unable to work because of COVID-19, you may be eligible for unemployment compensation benefits. Learn about eligibility requirements and how to get started here
Credit card or loan payments
If you have seen a reduction in pay due to COVID-19 and are struggling to make your credit card or loan payments, contact your lender right away. Regulatory agencies have encouraged financial institutions to work with customers impacted by the coronavirus. For guidance visit the Consumer Financial Protection Bureau or contact a credit counselor near you.
Mortgage or rent payments
If you do not have enough money in your savings to cover your mortgage payment or rent contact your lender or landlord immediately. Do not wait until you’re behind on payments. Some lenders may work out an agreement with you to waive late fees, set up a repayment plan or offer loan forbearance.
Short-term or emergency loans
Consider your options before taking out a high-cost, short-term loan. Talk with your creditors to negotiate more time to pay bills or borrow from friends or family before exploring loans offered by banks, credit unions, or licensed small loan companies that you may not be able to repay. Confirm the lender is licensed with the state and borrow only what you can afford to pay back.
On March 6, the chairman of the state Public Utility Commission signed an emergency order prohibiting electric, natural gas, water, wastewater, telecommunication and steam utility terminations by utilities that are under the PUC’s jurisdiction. The moratorium will remain in place for as long as the Proclamation of Disaster, issued by Governor Tom Wolf related to the Coronavirus, is in effect. If you are struggling to pay your utility bills, contact your service provider for possible emergency assistance programs.
We’re facing this public health challenge together. Here are some of the things we’re doing to look out for our customers during this coronavirus pandemic. Click here.
The state Insurance Department has resources and information available for consumers who have insurance related questions and developed a list of frequently asked questions that provides information and answers to common questions related to insurance coverage and COVID-19.
Consumers should be on the lookout for financial scams during major events such as the outbreak of COVID-19. If you have received an unsolicited phone call, when in doubt, hang up. Never provide credit card or other financial or personal information as part of an unsolicited phone call and think twice if you’re being pressured to act now.