COVID-19 FINANCIAL RELIEF HELPLINE - 800.432.0310
COVID-19 Financial Resources
[Updated December 6th, 2020]
As we head into winter, with a surge in new COVID-19 cases, here’s what you can do to keep you and your finances safe.
Whether you struggle with debts and unemployment or you are keeping up on your bills, staying up to date with available concessions and support services can stabilize and strengthen your personal finances now and long into the future.
Take a look at our links and services here, and check back again soon to find additional related information as it becomes available.
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Links to Money Fit's Best COVID-19 Resources
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COVID-19 Resources from Government Agencies - United States of America
Links to COVID-19 resources from the US Government.
Consumer Financial Protection Bureau
Free COVID-19 Resources From Nonprofit Organizations
Links to free nonprofit resources in the US and abroad.
Frequently Asked Questions About COVID and Finances
Select each question to view the answer
▶ What should I do if I lost much of my income because of COVID-19 and can’t afford my credit card minimum payment?
Always start by contacting your creditor directly. Explain the situation you are in and the size of payment you can afford to make, if any. Ask if they have any hardship programs that will let you pay less or nothing for a month without any penalty fees or harm to your credit rating.
▶ My family incurred large COVID-19-related medical bills we can’t afford. What are my options?
First, work the doctor’s office, hospital, and/or lab to arrange a monthly payment you can afford.
- If that doesn’t work, contact a nonprofit credit counseling agency like Money Fit, who can negotiate on your behalf for a 100% repayment plan you can afford.
▶ I found a company online that has found a cure for COVID-19, and I can invest in it and earn a great return next year. What’s the best way to invest in such an opportunity?
Cures will come through publicly traded companies or organizations funded by the National Institute of Health and CDC grants. Any organization offering you an investment opportunity in a COVID-19 cure is undoubtedly a scam. You’re your money and save yourself the headaches of falling victim to fraud.
▶ I got a call from the IRS offering an immediate tax credit related to the government stimulus package, but they need me to purchase a prepaid card so they can load my money onto it. Is this legit?
No. No government agency will ever ask you to purchase a prepaid debit or gift card to provide your assistance. Another sign of a scam includes the caller requesting you to use a wire transfer to pay for administration or other fees.
▶ I have an emergency savings fund and am worried about losing my job in the future. Should I use my savings to pay off my debts?
In times of emergency, cash is still king. While being debt free feels great and saves you interest charges over the long-range, you may need you cash to pay bills that don’t accept credit cards. Make at least your minimum payments and send an additional, reasonable amount to accelerate your debt reduction activities. However, hang onto your emergency savings funds for times when you are experiencing a financial emergency.
Select Your State for Local COVID-19 Resources
As the ad campaigns we’ve seen since the onset of COVID-19 reiterate, we’re all in this together. As an award winning, nonprofit credit counseling organization, Money Fit by DRS pledges to assist consumers in navigating through the financial implications of coronavirus. We invite you to join us and further the discussion inside our Money Fit Community, a forum designed for individuals, such as yourself, to access personal finance experts and share your own stories, opinions and advice. Consider joining the community today: Money Fit Online Community