When we first compiled a list of the help banks were offering during COVID-19, many of their programs were specifically outlined. As the situation has evolved, many banks (all of the ones we previously mentioned at least) are still offering help — but you may have to apply, and it may be decided on a case-by-case basis. It’s also important to note that some banks state specific cutoff dates for enrolling in the forbearance and deferment programs they offer.  Check out our updated list, accurate as of December 10, 2020.

With big, bright signs offering quick cash, storefronts for payday loans are hard to miss. But while they may offer plenty of promises for easy financial help, there’s more to them than meets the eye.  Before you go down the financial rabbit hole payday loans can create, there are some things you may want to know. How Do Payday Loans Work? Payday loans are usually small, short-term loans with few approval requirements and high costs. Let’s take a deeper look at the factors that set payday loans apart from other types of loans.  Amount According to the Consumer Financial Protection Bureau (CFPB), the loan size is generally around $500, although limits may be higher or lower, depending on state laws.

When job losses skyrocketed earlier this year, the number of uninsured Americans increased dramatically as well. According to Families USA, 5.4 million laid-off workers lost their health insurance between February and May –– that’s nearly 40% higher than any annual loss ever recorded. Unfortunately, a lack of insurance can quickly lead to medical debt and potentially credit issues as well. Fortunately, medical debt isn’t necessarily treated the same as other types of debt.  If you or someone you know is struggling with unpaid medical debt, here are a few facts you should know:   What Happens When You Can’t Pay a Medical Bill? Unlike lenders and creditors, medical providers generally don’t report information to the three Credit Reporting Bureaus (CRAs) ––

The financial impacts of COVID-19 have been extensive — but the severity of the impact and the implications aren’t the same for everyone. While some have simply adjusted where and how they work, others are facing unemployment and struggling to pay bills. A recent study by TransUnion suggests some of the disparity falls along generational lines.  Once the dust settles, how will Gen Z fare compared to baby boomers? And how will millennials recover versus Gen X? There are some notable (and interesting) differences — not only in how each generation is struggling, but also in how they’re adapting to undeniably challenging circumstances.  The Current Impact Conducted May 28 and 29, the TransUnion data shows a whopping 58% of respondents

With the much of the country still on pause due to the coronavirus, it’s likely that you or someone you know is in need of financial relief. While banks and lenders have largely been left to determine what type of assistance they will offer (aside from what is specifically outlined in the CARES Act), many are waiving fees and offering forbearance and deferment programs to those experiencing hardship.  Here’s what a few of the major banks and lenders are doing to help. Ally Bank Mortgages: Payments can be deferred for up to 120 days and accounts will be reported as “current” to Credit Reporting Agencies (CRAs). While no late fees will be charged, interest will continue to accrue. Missed payments

Credit and debt are intertwined in more ways than one. The amount of debt you carry can impact your credit score. In turn, your credit score can impact the amount of credit and terms potential lenders may offer.