(Newswire.net — April 20, 2020) — Lately, the world has come to a forced pause. Since the widespread epidemic known as COVID-19 has made its way to the bulk of countries on this planet, people have been forced to stay inside and hunker down in order to ‘flatten the curve’, and deter the spread of the disease as much as possible. Without a doubt, everyone staying inside and not working or spending will have a lasting impact on the economy.
At this point, around 16 million people in the US have filed jobless claims, and this number doesn’t seem to be slowing down yet. People all around the country, and the world at large, are losing their jobs over this pandemic. Entire sectors are being grinded down as measures to control the spread of the disease take place.
Despite the madness, financial companies and community resource services have been stepping up in order to help people out in this time of need. Community resources, such as benefits offered through Unemployment, are being helped out through funding from the CARES Act, whereas financial institutions are stepping up in different areas to provide relief to customers in need.
Financial Institutions
The fact that many workers are being laid off in abundance clearly alludes to the idea that this situation is, for the most part, out of our hands. All we can do for now is practice temporary social health guidelines, in order to do our part in controlling the spread of the disease. Since many people have no choice, and currently can’t work / make money, the Federal Reserve has called on financial institutions to provide relief to customers in need.
- Wells Fargo: If you happen to be a customer and user of Wells Fargo banks, and need assistance, you can call 1-800-219-9739, and you can talk to a specialist to hear about their options available for deposit products, small businesses and consumer lending.
- Capital One: Customers of this bank can contact them whenever possible in order to take advantage of their digital options. You can get in contact with them through the ‘Contact Us’ module on their website.
- PNC Bank: PNC is encouraging their customers to give them a call at 1-888-762-2265 to discuss the relief options available to them. Depending on your needs and product(s), PNC has a wide range of relief options available.
- Discover: Discover has announced that they will be offering their customers assistance and support related to fees, late payments, and payment timing.
Community Resource Services
In addition to financial institutions stepping up, there are community resource services that you can look to for help, as well.
- Financial Planning: To help out those affected by the pandemic, financial planners across the country are offering free help and consultation. Those offering free help can be found through The XY Planning Network’s search tool.
- Internet Companies: Since many people are having a hard time paying their bills right now, many internet companies are waiving late fees and opening up their WiFi hotspots to whoever needs them.
- Unemployment Benefits: Through the CARES Act, unemployment services have received an adequate amount of extra funding. States such as New York are placing a waiver on the waiting period normally required when filing for unemployment. The CARES Act has extended the amount of weeks you can receive unemployment benefits by 13, in addition to the maximum amount allowed by your state.
- Personal Loan Companies: Many personal loan companies are offering lower interest rates and are working to make it easier for customers to receive loans in this time of need, such as those at bestpersonalloans.com.
Conclusion
Undoubtedly, the world has come to an unexpected halt as of recently. Despite the hardships many of us are facing, it’s comforting to know that financial institutions and community resource services / companies are stepping up to help out those in need.