Coping with Debt During the Covid-19 Crisis
You are not alone. Many people are experiencing anxiety over the potential strain on their personal finances due to the coronavirus outbreak. If you find yourself struggling to pay your bills or loans on time, the “Coronavirus Aid, Relief and Economic Security Act” (the “CARES Act”), which President Trump signed into law on March 27, 2020, may provide you with some additional relief. There are also other steps you can take to help manage your debt during the pandemic.
1. Know your rights under the CARES Act, which impacts federally-held student loans and government-backed mortgages.