
The global coronavirus pandemic is a rapidly evolving situation impacting Americans’ daily lives. For many, that means uncertainty surrounding job status, income and finances.
Here, we have compiled links to numerous financial resources to help people navigate through this difficult time.
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Budgeting
Planning a budget will help you allocate and stretch your financial resources in the coming weeks and months. The recently passed CARES Act is designed to help Americans make it through this uncertain time. Beginning in late April, individuals with incomes up to $75,000 and married couples with incomes up to $150,000 will receive one-time payments of $1,200 and $2,400, respectively. Households with children under the age of 17 will receive an additional $500 per child. Individuals with incomes between $75,000 -$99,000 and married couples with incomes between $150,000 - $198,000 will receive lower payments on a sliding scale.
The IRS began directly depositing these payments into Americans’ bank accounts on Monday, 4.14. Visit IRS.gov to check the status of your pending payment or enter direct deposit information.
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Unemployment
As states see record numbers of unemployment claims, the federal government will provide additional assistance beyond standard unemployment benefits. The Extended Unemployment Insurance (UI) program:
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Credit & Debt
Many creditors and services providers are in the process of creating and implementing policies to assist consumers through this crisis. Until those are fully rolled out, here is general information on how to work with creditors if you are having trouble paying bills.
We encourage you to contact creditors and lenders as soon as you realize you won’t be able to make a payment. The quicker you act, the more options you’ll have available.
Click here for credit card issuer contact information, as well as the steps that are being taken for those impacted by the COVID-19 crisis.
Keep in mind, most creditors and banks are operating with a reduced workforce, so patience is key. See the types of relief creditors are offering.
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Student Loans
The Department of Education is taking steps to help ease student loan borrowers’ financial burdens.
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Housing Relief
A number of federal agencies have created resource pages for homeowners facing hardships and who may be unable to pay their mortgages.
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Food & Household Essentials
General guidelines recommend keeping approximately two weeks’ worth of food on-hand, if possible.
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General Information
For general information on COVID-19, including updated statistics, prevention and treatment information, visit the Centers for Disease Control and World Health Organization.
We also recommend following your state’s governor, as well as other local government officials, on social media to stay current on what’s happening closest to your home.
Our counselors are available to assist in planning a budget. Please call 866-528-0588 to speak with a certified credit counselor, or complete a free online financial review.
Current Take Charge America clients may access their account information any time at MyTCA.org