Good Day NWA: Tips for Those Financially Affected by COVID-19

Good Day NWA

No matter where you live in Arkansas or Oklahoma, you have undoubtedly been impacted by the COVID-19 (coronavirus) pandemic. While the U.S. government rightly continues to focus on the health and safety of its citizens, requiring non-life-sustaining businesses to close, many families and individuals are finding themselves in difficult financial situations.

Watch as Bill Reynolds from Caddell Reynolds offers tip to those who have been financially affected by Covid-19.

How many people are affected financially by COVID?
⦁ During the last week in March a whopping 6.6 million Americans filed for unemployment. That brings the two-week total to about 10 million people filling for unemployment during the coronavirus pandemic.

What can those affected do?
⦁ Apply for unemployment benefits
⦁ Arkansas-
⦁ Oklahoma-
⦁ Pause bills that are able to be paused
⦁ Cancel unnecessary subscriptions, like streaming services

What bills can be paused?
⦁ Student loans, under the CARES act, many student loans have become interest free and payments are paused until September 30th
⦁ Some utility companies are offering specialized payment plans and forgiveness for those that have been affected financially
⦁ Mortgage payments, talk to your mortgage lender about pausing payments during this time.

What are some other resources to help?
⦁ SNAP, in both Arkansas and Oklahoma, which can help with purchasing food during this time
⦁ Arkansas-
⦁ Oklahoma-
⦁ USDA National Hunger Hotline –
⦁ 1-866-3-HUNGRY
⦁ Free Coverage for Coronavirus testing
⦁ If necessary, we can help look at solutions and how to help with debt during this time.
⦁ If you came into the crisis carrying a lot of debt and your struggling with your finances after being laid-off, a bankruptcy attorney can help you find solutions to help you get back on track.

For more information on Caddell Reynolds and the services they provide, click here.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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