With the coronavirus pandemic becoming more and more serious, one of the biggest things people are worrying about is how they are going to pay their bills and survive. With so many businesses closing down, many people are not able to work, which means they aren’t getting an income coming in. While this is a very real worry, the good news is that financial planners, like Jason Vanclef, have some tips to help you feel more at ease during this time. While there isn’t really too much you can do, keep reading to see 6 of the things that can help ensure you can get your bills paid during this time.
Ask for Deferment
The first thing you can do is ask for deferment. Deferment is when you are able to put something off until a later time. Some places, such as electric companies, are allowing people to put off payments until a certain date or until this pandemic clears. Keep in mind, not every place is going to offer this, so make sure you call your specific providers to see if they do. Another thing to keep in mind is that they’ll probably give you a certain amount of time and if you don’t pay your bill in full, they’ll hit you with late fees or possibly even start a collections process.
File for Unemployment
Since this pandemic hit pretty much out of nowhere, many states are allowing those affected to file unemployment. Most areas doing this have stated that the person applying doesn’t need to wait the normal amount of time as long as they aren’t working due to virus shutdowns. The easiest and quickest way to file is to get on the website for your state. Since there’s an increase in traffic, it might take a little while to get through, but you’ll be able to fill everything out in a matter of just a few minutes.
Use Available Assistance
You could also try to use available assistance. While this will vary from place to place, many are offering extra public benefits to help lessen the impact of the virus. This includes things like food stamps, cash assistance and extra assistance to help pay your bills. One thing to keep in mind is that most places will require you to prove that you’ve been affected by the virus, so it’s not available to just anyone. You might have to prove that you actually work where you say and that you aren’t currently working because your workplace shut down.
Ask for Payment Plan
It’s also worth a shot to ask for a payment plan. This is a good option for those that are working at businesses that are considered essential and are still open.This is especially true if their hours have been reduced by quite a lot. If you don’t want to completely delay paying your bills, you can call and see if there’s a payment plan you can get set up. Most places will work with you and give you a certain amount of time and payments to pay the balance off. Keep in mind, though, the bills will keep coming every month, so you want to make sure you can still pay that as well.
Call for Options
You could also call for options. Each place has come up with certain rules and exceptions when it comes to the virus. One place might decide to stop doing shutoffs or evictions for a certain amount of time, while somewhere else might offer something to help get your bills forgiven or reduced. Since each place has their own specific guidelines, it’s extremely important to call the specific providers you work with. Even if you don’t use any of the options they have, it’s a good idea to at least know what’s available.
Wait it Out
The final thing you can do is to just wait it out. This isn’t the best option because there’s a chance that you can get way behind, but the United States government is working to help bring money to Americans to help lessen the burden. If possible, you can wait for this assistance and pay on your bills.
Chances are that this pandemic is going to get worse before it gets better, so it’s important to do what you can to ensure you’ll be fine once it’s over. By using the tips from planners like Jason Vanclef, you have a pretty good chance of being fine when it comes to your bills. Try to do what you can and stay focused on keeping yourself and your family safe and healthy during these extremely trying times
