Note: The following is not legal advice. Please consult a lawyer or your financial advisor to discuss your specific situation.
Do you have questions about coronavirus and how its impacts your finances? The Credit.com team is here for you. We’re working to help provide you valuable information to help you stay financially safe and secure. To give you all the up-to-date information, we’ll be updating this page regularly. So make sure to check back to find answers to any questions you might have.
- Useful COVID-19 resources
- Measures you can take to prepare your finances
- Other important resources
- The latest on the coronavirus financial relief measures
Useful COVID-19 Resources
Beyond official measures, there’s plenty you
need to be aware of to protect yourself and your finances during the COVID-19
pandemic. We’ve got you covered with specific resources.
Coronavirus Resources when You’ve Lost Your Job: If you’ve been financially impacted by COVID-19, we’ve gathered together a ton of resources to help you through.
COVID-19 and Your Personal Finances: With so much uncertainty, getting a handle on your finances are as important now more than ever. There are a few steps you can take to become financially secure, and to prepare for any unexpected expenses or emergencies.
Preparing Your Finances
Navigating your finances is difficult at the
best of times. But we’ve been preparing our content archives for years to keep
you financially healthy and secure. Here are some articles we think might be
helpful during this time.
What do I do if I’m unemployed?
How to Get Unemployment Benefits: Unfortunately, many people are losing their jobs due to the economic hits from the pandemic. If you find yourself without a job, there are unemployment benefits available.
Managing Your Finances During Unemployment: Unemployment is rough on your finances. Find out how to manage them successfully while dealing with the stress of finding a new job.
Quick Tip: The U.S. Department of Labor has announced new guidelines for states in administering unemployment programs during the COVID-19 pandemic. Learn more here.
How should I handle my finances?
How Can I Take Control of My Finances?: More than half of the US population doesn’t have the funds to cover a $1,000 emergency. If you’re in the same boat, it’s time to take control of your finances.
Budgeting for Beginners: Now’s a great time to start a budget. If you don’t know how, there are a few easy first steps—listing monthly expenses, listing fixed expenses, etc. Try to do as much as you can to get a reasonable budget set up.
How to Prepare for a Recession: Is a recession on its way? Here’s what you need to do to prepare financially.
Avoiding Payday Loans: Payday loans can help you get through a tight spot financially, but they also bring their own challenges. Avoid the payday loan trap with these other options.
401k Withdrawal FAQ: During a financial crisis, you may be tempted to withdraw funds from your 401(k) early. But doing so can come with tax consequences.
Do I need to add more to my
Why a Savings Account Is Important: Since we’re in the middle of a pandemic, most people are facing financial uncertainty. That’s why it’s important to make sure you have a savings account. Plus, savings accounts have other perks, such as accruing interest.
How Much Money to Save for an Emergency: It’s never too late to start saving for an emergency. If you’re wondering where to start, try budgeting as much as you can.
Quick Tip: Experts agree that you should have enough money saved up to cover at least six to eight months of living expenses.
7 Habits of Successful Savers & Investors: Should you invest while the market is down? Depends on your situation and your aversion to risk.
What should I do with my debt?
How to Reduce Debt: Now is as good a time as ever to start reducing your debt. There are a few easy steps you can take to get yourself ready to tackle your debt.
How to Deal with a Medical Debt Collector: Have you or a loved one been hospitalized due to COVID-19? You might have some medical bills on your hands. If you’re dealing with medical debt collectors, there are some strategies that can help.
How Medical Debt Impacts Your Credit Score: During this time of financial uncertainty, it can be hard to tell if you’ll have medical debt on your hands. If you do, make sure you know how it can impact your credit score—and how you can handle it.
I own a small business—what
should I know?
Get a Business Loan with Less Than Perfect Credit: Things aren’t easy for business owners right now. If your business has taken a hit due to the pandemic, and you have less than perfect credit, you can still get a business loan.
Quick Tip: The U.S. Small Business Administration offers funding options in the light of COVID-19, such as a Paycheck Protection Program. Learn more here.
What should homeowners know? What
Understanding Your Foreclosure Rights: When your home is foreclosed on, you still have rights.
What Happens if You Get Evicted: Hopefully you won’t find yourself in this situation. But if you’re evicted, there are some things you’ll need to know.
Do I need to worry about my
A Quick Guide to Tax Deductions, Credits and Exemptions: Make sure you have everything sorted to get your taxes in line this year. Understanding all your potential deductions and credits is important to reducing your tax burden.
Quick Tip: Due to the COVID-19 coronavirus pandemic, the IRS has extended the federal tax filing and payment deadline to July 15, 2020. The recent relief package passed by Congress may have additional tax implications. Please contact a tax adviser for information you may need to complete your taxes this year. Learn more.
File Your Taxes for Free: The filing deadline has moved back to July 15 for 2020, so you still have time to file for free. Find out how.
Are there financial tools I
Low APR Credit Cards: Low APR credit cards can be a useful tool during turbulent financial times—as long as you use them responsibly.
Credit Report Card: Keep an eye on your credit report to maintain your credit history.
Everything You Need to Know About Credit Repair: Credit repair might not be a priority, but the COVID-19 pandemic has made a lot of us financially vulnerable. If your credit has taken a hit, you can get your credit back in shape.
Review these official COVID-19 resources for
up-to-date information about the global situation and how to keep yourself
The Latest Coronavirus News
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