Freedom Financial Network  was founded in 2002 with the mission to empower everyday Americans to move forward towards a better financial future. While many financial services companies existed to help people get into debt, none were committed to helping consumers get out of debt and learn how to manage their finances in smarter ways. Freedom was founded to give struggling consumers an affordable, responsible way to get out of debt.

The COVID-19 pandemic has created enormous financial difficulty for millions of Americans. At Freedom Financial Network and Freedom Debt Relief, we have worked alongside consumers facing financial hardship for nearly two decades to help them regain their financial footing.

Because we are all in this together, Freedom has created this free service to help consumers better understand what options might be available to them to manage through the financial impacts of the pandemic, including: how to request forbearance or deferment from their creditors; information regarding the various government programs that have been created in response to the crisis; and how to address their student loan debt during this period. While we can’t answer every question consumers might have during this unprecedented period, we can provide meaningful assistance to help consumers navigate through the economic uncertainty the pandemic has created.

The only way we will get through this is together. We have been inspired by the countless individuals and companies who have contributed their services or expertise to the pandemic recovery effort. This helpline is one small way that Freedom can contribute using its vast consumer financial expertise.

As longtime corporate citizens of Tempe, Arizona the Freedom Family includes more than 2,300 Arizonans. As we launch this service, we first provided it to our neighbors, friends and family in Arizona. We recently expanded this to the San Francisco Bay Area and California where our corporate headquarters are.

We recognize that many consumers face enormous financial uncertainty as a result of a global health crisis that has an unknown timeline of abating. We are committed to providing this free service during this challenging time. 

One of the key relief measures financially distressed Americans have been offered during the coronavirus crisis is forbearance. But what exactly does forbearance entail? Forbearance is when a lender allows you to pause or temporarily reduce mortgage payments with the expectation that you will repay everything back in full over time.

If you are missing payments to creditors or worried you will have to miss payments due to a  financial hardship, you may consider asking your lender or creditor for a loan or credit card forbearance. All this means is that you are asking them for more time to make payments. Sometimes, they may let you skip interest payments and only pay on the principle of your debt. When it comes to loans, the change in terms will depend on the type of loan, the circumstances, and the lender’s policies.


When you contact your creditors, be sure you have all the information they will need to find your loan or account and help you. Have this information ready before you call, email, or write. (Reminder, don’t send sensitive personal information over email.) 

- Account number or ID
- Personal identifier (i.e., your social security number, date of birth)
- Current loan amount or total owed
- Monthly payment/minimum payment due
- Days past due (if applicable)
- Your hardship details: what, why, how long you think it might affect your ability to pay
- Any other information you think will help your lender make a decision in your favor. Include relevant facts only. The more accurate and prepared you are, the better equipped they will be to help you.
- A list of questions you want to ask. We all tend to get a little rushed or flustered on the phone.

[You can download this workbook](https://drive.google.com/file/d/1EfqRLLtYT6SH4Rw2i0oeD5NxovAw6h0R/view?usp=sharing) to help plan out your phone calls.




Legislation enacted by Congress provides eligible taxpayers who filed tax returns for either 2019 or 2018 an economic impact payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child. Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive these payments via a check or direct deposit. 

Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible. Social Security recipients and railroad retirees who are otherwise not required to file a tax return are also eligible and will not be required to file a return. 


The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.
For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.


Yes. The IRS will use the information on the Form SSA-1099 or Form RRB-1099 to generate Economic Impact Payments to recipients of benefits reflected in the Form SSA-1099 or Form RRB-1099 who are not required to file a tax return and did not file a return for 2018 or 2019. This includes senior citizens, Social Security recipients and railroad retirees who are not otherwise required to file a tax return.

Since the IRS would not have information regarding any dependents for these people, each person would receive $1,200 per person, without the additional amount for any dependents at this time.


The IRS will post all key information on IRS.gov/coronavirus as soon as it becomes available. The IRS has a reduced staff in many of its offices but remains committed to helping eligible individuals receive their payments expeditiously. Check for updated information on IRS.gov/coronavirus rather than calling IRS assistors who are helping process 2019 returns.
 
The CFPB has also released timely information on new programs aimed at helping struggling consumers during this time. These programs include student loan payment suspension; mortgage forbearance; stimulus payments; and the paycheck protection program.   Additionally, the Bureau has a centralized  webpage with information on how consumers can protect their finances during the pande

## Mortgage Forbearance

The CARES Act stimulus package requires servicers to provide forbearance — a temporary postponement of payments — to any homeowner with a federally-backed mortgage. Borrowers with federally backed mortgage loans—loans under Fannie Mae and Freddie Mac—who are experiencing financial hardship due to COVID-19 can request forbearance on their payments for up to six months. Borrowers must submit a request to their servicer and affirm that they’re experiencing financial hardship during the crisis. Additionally, no foreclosures or evictions from properties with federally backed mortgages can occur during this period. During the mortgage forbearance period, interest will still accrue. However, additional fees, penalties or extra interest cannot be added to mortgages.

If you're facing a short-term financial hardship and need temporary assistance with your mortgage, your lender may offer you a "forbearance." With this option, your lender temporarily reduces or suspends your mortgage payments for up to 6-12 months while you get back on your feet.

**Forbearance may make sense if you:**
- Are facing a short-term financial hardship.
- Think you may fall behind on your mortgage payments, or have already missed one or two payments.
- Forbearance is often combined with a reinstatement or a repayment plan to pay off the missed or reduced mortgage payments when your financial situation has stabilized.

To qualify for forbearance, a borrower must have a mortgage backed by one of the following federal agencies:
- Fannie Mae
- Freddie Mac
- The Federal Housing Administration (FHA)
- The U.S. Department of Veterans Affairs (VA)
- The U.S. Department of Agriculture (USDA)

**Be prepared to answer some questions**

You don’t need to provide documentation to prove your financial hardship at this time, but your servicer may have some questions to determine how much assistance they will offer you. The Consumer Financial Protection Bureau suggests being prepared to answer the following:
- Why you can’t make your payments?
- Is the problem you are facing temporary or permanent?
- What is the current state of your income, expenses and other assets, including money in the bank?
- Are you a service member with permanent change of station orders?

**HUD Foreclosure Avoidance Counseling Map**

HUD provides the ability to choose your state, then lists, for selected state, foreclosure prevention counseling services. These are provided free of charge by nonprofit housing counseling agencies working in partnership with the federal government. Most states have many agencies listed, all with a URL, phone number and email (or some combination thereof). [Click here for the HUD map](https://apps.hud.gov/offices/hsg/sfh/hcc/fc/).

## Other Mortgages

Americans with other mortgages may also be able to receive forbearance at their servicers’ discretion. Remember, you can only get forbearance from the lender who currently owns your loan. If your loan has been sold, that is the institution you need to speak to. Here is a list of most of the major lenders in the U.S with their relevant contact information.

**Ally Bank**
Ally has announced it will allow existing mortgage customers to defer payments without charges. [Contact the bank for more information.](https://www.ally.com/coronavirus-response)
866-401-4742
 
**Wells Fargo**
Wells Fargo has said it will suspend residential property foreclosure sales, and evictions and involuntary, but please [contact the bank](https://www.wellsfargo.com/mortgage/manage-account/payment-help/home-assist-reference/) for programs that apply to your specific situation.
800-678-7986

**Quicken Loans**
800-251-9080
[Website](https://www.quickenloans.com/learn/mortgage-help)

**JPMorgan Chase**
800-848-9380
[Website](https://www.chase.com/personal/mortgage/mortgage-assistance/options-to-consider)
 
**Bank of America**
Bank of America has announced an official deferment plan. Effective March 19, the bank will pause foreclosure sales, evictions and repossessions. Please check with the bank for more details.
800-669-6650
[Website](https://homeloanhelp.bankofamerica.com/en/forbearance.html)
 
**United Wholesale Mortgage**
469-322-3899
[Website](https://www.myuwmloan.com/support/mortgage_assistance/application_process)

**Loan Depot**
888-983-3240
[Website](https://www.loandepot.com/about/loan-servicing/support-resources)

**U.S. Bank**
U.S. Bank is offering mortgage assistance programs that may allow customers to suspend payments for up to 180 days with no late fees.
800-365-7900
[Website](https://www.usbank.com/home-loans/mortgage/mortgage-help-and-repayment-options.html)

**Caliber Home Loans**
800-401-6587
[Website](https://myaccount.caliberhomeloans.com/financial-hardship-assistance/forbearance-plans)
 
**Fairway Independent Mortgage**
800-201-7544 (Customer service)

**Flagstar Bank**
800-393-4887
[Website](https://www.flagstar.com/personal/mortgage-information-center/facing-financial-hardships.html)

**PennyMac**
800-569-4287
[Website](https://www.pennymacusa.com/relief-and-assistance)
 
**Guild Mortgage**
800-365-4884
[Website](https://www.guildmortgage.com/help-center/hardship-assistance/)

**Citi**
866-272-4749
[Website](https://online.citi.com/US/JRS/portal/template.do?ID=mortgage_help_with_payments)

**Fifth Third**
866-351-5353
[Website](https://www.53.com/content/fifth-third/en/personal-banking/borrowing-basics/mortgage/lp-get-help.html)
 
**PNC**
800-523-8654
[Website](https://www.pnc.com/en/personal-banking/borrowing/home-lending/understanding-home-lending-center/financial-trouble.html)

**Sun Trust**
800.443.1032
[Website](https://www.suntrust.com/home-mortgages/existing-client-support/mortgage-assistance-program)
 
**Mr. Cooper**
888-480-2432
[Website](https://www.mrcooper.com/support/mortgage_assistance)

**Freedom Mortgage** (No affiliation with Freedom Financial Network)
855-690-5900
[Website](https://www.freedommortgage.com/help-with-mortgage-payments)

**BB&T**
800-827-3722
[Website](https://bank.bbt.com/retailEnrollment/paymentrelief)

**USAA**
855-430-8489
[Website](https://homeusaa.com/support/mortgage_assistance/options)








Mortgage

# Personal Loan Forbearance and Hardship Programs

For millions of people COVID-19 has impacted their ability to pay all their bills. If you have a personal loan your lender may also offer assistance, in the form of payment deferrals or reduced payments. These options are a different than some of the hardship options offered in the mortgage and auto loan categories. Some creditors may also require proof that you're dealing with a financial hardship which could include copy of a layoff letter or other materials documenting a furlough, reduced hours or wages.

**Assistance From Personal Loan Lenders**
It is important to note that these assistance programs won't reduce or forgive your debt, but they can certainly it easier to manage other bills without impacting your credit. 

**Deferred Payments**
The most common option from lenders appears to be loan deferment, which allows you to temporarily pause your payments. Typically lenders offer a 90 day deferment.  In this option interest will still continue to accrue on your loan while it's in deferment.

**Reduced Payments**
Another option is to reduce the monthly payment then simply deferring your monthly payment, Typically any unpaid portion will be added to the overall amount and will extend the repayment window.

**Applying for Assistance**
Due to COVID-19 many lender call center hours have been reduced and wait times are very long. A better option would be to use a lenders app or your online account to request assistance, and save yourself time. 

[Avant](https://www.avant.com/blog/news/covid-19-readiness-plan/)

[Bank of America](https://about.bankofamerica.com/promo/assistance/latest-updates-from-bank-of-america-coronavirus)

[BBVA](https://www.bbvausa.com/special/covid19/covid-19-customer-support.html)

[BestEgg](https://www.bestegg.com/coronavirus-updates-resources/)

[Capital One](https://www.capitalone.com/updates/coronavirus/customer-assistance/)

[Discover](https://www.discover.com/coronavirus/#covid-faq)

[Earnest](https://help.earnest.com/hc/en-us/articles/360045106553)

[FreedomPlus](https://www.freedomplus.com/covid-19?utm_medium=organic&utm_source=website&utm_campaign=freedomplus.com)

[LendingClub](https://help.lendingclub.com/hc/en-us/articles/360040970711-LendingClub-s-response-to-COVID-19-coronavirus-for-members-with-personal-loans)

[LightStream](https://www.lightstream.com/coronavirus-response)

[Marcus by Goldman Sachs](https://www.marcus.com/us/en/media/blogs/info-on-covid19)

[OneMain Financial](https://www.onemainfinancial.com/manageyouraccount)

[Oportun](https://oportun.com/about/press/what-were-doing-about-covid-19/)

[Payoff](https://www.payoff.com/assistance/)

[PNC](https://www.pnc.com/en/customer-service/coronavirus-update.html#consumer)

[Prosper](https://www.prosper.com/blog/2020/04/19/an-update-from-prosper-on-coping-with-covid-19/)

[SoFi](https://www.sofi.com/faq/#alert)

[Upstart](https://www.upstart.com/blog/were-here-to-help)

[U.S. Bank](https://www.usbank.com/splash/covid-19.html)



Personal Loan

# Small Business Assistance

The President signed a $484 billion stimulus bill that will provide additional funding to small business loans, hospitals and expanded coronavirus testing. Under the deal, the Paycheck Protection Program will receive more than $300 billion in additional funding, and $60 billion will go toward SBA disaster loans. The legislation:

- Provides a total of $659 billion to the PPP, including the original $347 billion in funding, which was depleted
- Increases the authorization level for the Emergency Economic Injury Disaster (EIDL) to $20 billion
- Allows agricultural enterprises as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)) with not more than 500 employees to receive EIDL grants and loans
- Sets aside the following amounts for the PPP to be made by the following institutions:
- $30 billion for loans made by small Insured Depository Institutions and Credit Unions that have assets between $10 billion and $50 billion; and
- $30 billion for loans made by Community Financial Institutions, Small Insured Depository Institutions, and Credit Unions with assets less than $10 billion

The federal government created the Paycheck Protection Program (PPP) to support small businesses during this pandemic. The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs, including benefits like healthcare coverage. Funds can also be used to pay interest on mortgages, rent, and utilities. 
- The PPP is a low-interest loan (1%); however, funds used for up to eight weeks of payroll costs, interest on mortgages, rent, and utilities will be fully forgiven. 
- Loan payments are deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. 
- Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. 
- Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors— are eligible. Businesses with more than 500 employees are eligible in certain industries. 
- You can apply through any existing Small Business Administration 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov. 

## Other SBA Resources

[Funding Programs](https://www.sba.gov/funding-programs/loans/coronavirus-relief-options) or
[Small Business COVID-19 Page](https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources)


## Common Issues Small Businesses May Encounter:
- Capital Access – Incidents can strain a small business's financial capacity to make payroll, maintain inventory and respond to market fluctuations (both sudden drops and surges in demand). Businesses should prepare by exploring and testing their capital access options so they have what they need when they need it.  See SBA’s capital access resources.
- Workforce Capacity – Incidents have just as much impact on your workers as they do your clientele. It’s critical to ensure they have the ability to fulfill their duties while protected.
- Inventory and Supply Chain Shortfalls – While the possibility could be remote, it is a prudent preparedness measure to ensure you have either adequate supplies of inventory for a sustained period and/or diversify your distributor sources in the event one supplier cannot meet an order request.
- Facility Remediation/Clean-up Costs – Depending on the incident, there may be a need to enhance the protection of customers and staff by increasing the frequency and intensity by which your business conducts cleaning of surfaces frequently touched by occupants and visitors. Check your maintenance contracts and supplies of cleaning materials to ensure they can meet increases in demand.
- Insurance Coverage Issues – Many businesses have business interruption insurance; Now is the time to contact your insurance agent to review your policy to understand precisely what you are and are not covered for in the event of an extended incident.
- Changing Market Demand – Depending on the incident, there may be access controls or movement restrictions established which can impede your customers from reaching your business. Additionally, there may be public concerns about public exposure to an incident and they may decide not to go to your business out of concern of exposing themselves to greater risk. SBA’s Resources Partners and District Offices have trained experts who can help you craft a plan specific to your situation to help navigate any rapid changes in demand.
- Marketing – It’s critical to communicate openly with your customers about the status of your operations, what protective measures you’ve implemented, and how they (as customers) will be protected when they visit your business. Promotions may also help incentivize customers who may be reluctant to patronize your business.
- Plan – As a business, bring your staff together and prepare a plan for what you will do if the incident worsens or improves. It’s also helpful to conduct a tabletop exercise to simulate potential scenarios and how your business management and staff might respond to the hypothetical scenario in the exercise. For examples of tabletop exercises, visit FEMA’s website at: https://www.fema.gov/emergency-planning-exercises

**Local Assistance:** SBA works with a number of local partners to counsel, mentor, and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the [SBA’s Local Assistance Directory](https://www.sba.gov/local-assistance) to locate the office nearest you.







Small Business

# Unemployment Insurance

The new law expands unemployment benefits dramatically, with an additional federal payment boosting normal benefits. Here are the details: 
- In addition to normal state benefits, an additional $600 per week will be paid to individuals for up to four months. This boost will help individuals earn around the median weekly wage. This boost is scheduled to terminate on July 31, 2020.
- Benefits will last longer too. Regular state unemployment eligibility of 26 weeks has been expanded by an additional 13 weeks, for a total of 39 weeks.
- The package expands unemployment insurance to those who don’t typically qualify: Gig economy workers who are classified as independent contractors and self-employed individuals.
- Individuals who haven’t been laid off, but can’t work due to a variety of reasons related to COVID-19, would also be eligible for unemployment checks. These reasons would include a case where they were diagnosed with COVID-19, were awaiting a diagnosis, or had a family member diagnosed with the disease; Individuals who were scheduled to start a job and could not because their future workplaces had been shut down due to the COVID-19 pandemic, would also be eligible. Additionally, individuals whose head of household died directly due to COVID-19 will be eligible.
- Workers who are furloughed, but haven’t been fully laid off, are eligible.
- The 7-day waiting period before an unemployed worker can get benefits, which is a standard feature of most states’ unemployment systems, is being waived to help individuals receive cash as quickly as possible.

The requirements vary by state, but in general you’re eligible for unemployment benefits if you were previously working but lost your job or had your hours cut through no fault of your own. The unemployment insurance program uses both state and federal funding to give cash benefits based on the wages you made before losing your job.

**One quick note:** Filing for unemployment benefits is not a one-time thing. You’ll typically need to regularly update state officials with proof that you are actively seeking work — usually through the same website as the one where you filed your initial claim.

As more people file for unemployment because of COVID-19, expect to see rapid changes. Be sure to check with your state’s corresponding agency for the latest information on applying or qualifying for unemployment. Below is a list of every state and.

**How to file for unemployment benefits online in Alabama**

Where to file a claim: [Click here](https://labor.alabama.gov/uc/ICCS/default.aspx) to get to the new claims page on the Alabama Department of Labor website.
The fine print: You can’t file a claim online in Alabama if you’ve filed a claim in any other state in the past 12 months, you worked for the federal government in the last 18 months and were not laid off due to government shutdown, you worked as a merchant seaman in the past 18 months or you are currently outside the United States of America.
What you’ll need: Be sure to have the following on hand before you start your application:
- Social Security number
- Work history for the past 18 months. Be sure to include your employers’ company name, address, and phone numbers, along with dates of employment
- Non-citizens will need to provide their Alien Registration Number
- A copy of your DD214 discharge papers if you’ve been released from the military in the past 18 months
- Your Trade Adjustment Assistance (TAA) certification letter and/or TAA petition number, if you are filing for Trade Adjustment Assistance Benefits
- The name and local number of your union hiring hall, if you obtain your work through a union hiring hall
- Your bank routing number and checking/savings account number, if you’d like direct deposit of your benefits
- Your phone number

**ALABAMA QUICK INFO**
https://labor.alabama.gov/unemployment.aspx
(866) 234-5382


**How to file for unemployment benefits online in Alaska**

Where to file a claim: [Click here](https://my.alaska.gov/adfs/ls/?wa=wsignin1.0&wtrealm=https%3a%2f%2fmy.alaska.gov%2f&wctx=rm%3d0%26id%3dpassive%26ru%3d%252fPrerequisiteProcess%253fpubid%253dbif&wct=2020-03-31T20%3a18%3a48Z&pubid=bif) to get to the new claims page on the Alaska Department of Labor and Workforce Development. You’ll first need to create a login with a valid email address.
The fine print: If you’ve worked in another state in the past 18 months, you may be able to combine claims.
What you’ll need: Be sure to have the following on hand before you start your application:
- Social Security number
- Non-citizens will need to provide their Alien Registration Number and your work permit or other documentation
- Name, mailing address and phone number of your last employer and the location where you reported to work
- Dates of your last employment, first and last day worked
- Earnings you made in the last week of your employment
- Other deductible income received in the last week of employment, such as vacation, severance or bonus pay
- Federal employees are required to mail or fax copies of standard form SF8 and SF50, and when possible a Leave and Earnings Statement
- A copy of your discharge papers if you’ve been released from the military in the past 18 months          

**ALASKA QUICK INFO**
https://labor.alaska.gov/unemployment/
(907) 269-4700


**How to file for unemployment benefits online in Arizona**

Where to file a claim: [Click here](https://uiclaims.azdes.gov/) to get to the new claims page at the Arizona Department of Economic Security. The fine print: 
Applicants can apply for benefits online between midnight on Sunday through 6 p.m. on Friday.
What you’ll need: Be sure to have the following on hand before you start your application:

- Social Security Number
- AZ driver’s license or AZ state-issued ID
- Your mailing address, city, state, and ZIP code
- The names, addresses, and phone numbers of all employers for the last 18 months
- The last day worked immediately prior to filing the UI claim
- Deductible income received in the last week of employment, such as vacation, severance or bonus pay, as well as any pension
- A copy of your DD214 discharge papers if you’ve been released from the military in the past 18 months
- Your Trade Adjustment Assistance (TAA) certification letter and/or TAA petition number, if you are filing for Trade Adjustment Assistance Benefits
- The name and local number of your union hiring hall, if you obtain your work through a union hiring hall

**ARIZONA QUICK INFO**
https://des.az.gov/services/employment/unemployment-individual
(877) 600-2722


**How to file for unemployment benefits online in Arkansas**

Where to file a claim: [Click here](https://www.ezarc.adws.arkansas.gov/)  to get to the new claims page at Arkansas Division of Workforce Services.
The fine print: Applicants can apply for benefits online between 6 a.m. to 6 p.m. each day. You aren’t eligible if you are participating in — or have a direct interest in — a labor dispute.
What you’ll need: Be sure to have the following on hand before you start your application:
- Social Security Number
- Your physical address, mailing address, and phone number
- The name and address of your last employer
- A copy of your DD214 discharge papers if you’ve been released from the military in the past 18 months
- Your banking information if you wish to receive benefits through direct deposit
- The name and local number of your union hiring hall, if you obtain your work through a union hiring hall

**ARKANSAS QUICK INFO**
https://www.dws.arkansas.gov/unemployment/
(855) 225-4440




Unemployment Insurance

# Student Loan Hardship Programs

## **Federal Student Loans**

The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress in March automatically suspended payments on direct loans, Perkins loans and Federal Family Education Loans from March 13, 2020 through September 30, 2020. Interest will not accrue on these accounts during this period. The legislation applies only to those student loans owned by the federal government. 

According to the Department of Education, if you have an auto-debit set up to make your payments, those payments will be suspended through September 30th, 2020. You do not need to do anything to stop them, saving you time from stopping them and setting them up again in October when payments are due.

You have the option to continue payments during this time if you are financially able. Borrowers can make their regular payment amount or even a smaller amount. With 0% interest, borrowers can make progress paying down their loan faster. If you would like to keep your auto-debit, you must contact your loan servicer to opt-out of the forbearance.

- Interest will not accrue on federal student loans from April through September 30 and no payments must be made. 
- Even though payments are suspended during this time period, the Department of Education will treat it as if the borrower made a payment toward public service loan forgiveness or other forgiveness programs.
- Borrowers who are in loan rehabilitation programs will also have the suspension period count toward rehabilitation. These programs are for borrowers working to pull their loans out of default. 
- Credit reports and scores will not be impacted during the suspension of payments period.
- Wage garnishment and tax refund seizures will be halted during the forbearance period.

**Federal Loan Servicers**

CornerStone - 1-800-663-1662

FedLoan Servicing (PHEAA) - 1-800-699-2908

Granite State – GSMR - 1-888-556-0022

Great Lakes Educational Loan Services, Inc. - 1-800-236-4300

HESC/Edfinancial - 1-855-337-6884

MOHELA - 1-888-866-4352

Navient - 1-800-722-1300

Nelnet - 1-888-486-4722

OSLA Servicing - 1-866-264-9762

ECSI - 1-866-313-3797


## **Private Student Loans**

The six-month student loan payment deferment program enacted by Congress last month **does not apply** to student loans originated and serviced by private lenders; however, many lenders are offering flexible payment options to their borrowers.

**Access Group**
Access Group is handling payment assistance on a case-by-case basis. You can contact Firstmark (Access Group's servicer) to discuss forbearance options at 888-538-7378

**Advantage Education Loan**
If you've been financially impacted by the coronavirus, Advantage Education Loan will offer disaster forbearance for up to 90 days. Call 1 (800) 693-8220 to set up forbearance.

**Citizens Bank**
You can apply for payment assistance through Citizens Bank for up to 90 days. You will not pay late fees, and the bank will not report late or missed payments to credit bureau agencies.
1-866-259-3767


**College Ave**
You may qualify for disaster forbearance through College Ave for up to three consecutive months, but interest will continue to accrue. If you're already enrolled in auto pay, you will keep receiving the auto pay interest rate discount even while payments are paused. To enroll in disaster forbearance, send an email to servicing@collegeave.zendesk.com. College Ave is aiming to respond to these emails within five business days.

**CommonBond**
You can apply for natural disaster forbearance through CommonBond. Your student loan forbearance will last as long as the coronavirus is declared a national emergency. Interest will keep accruing, but CommonBond will waive late fees. Call 800-975-7812 or email care@commonbond.com

**Discover**
Discover is offering payment assistance for private student loans, but the company has not published details. Call 1 (800) STUDENT to speak with a representative.

**Earnest**
You can apply for disaster forbearance through Earnest for up to three months, but interest will continue to accrue. You can expect to hear back within 10 business days after you [submit your request](https://help.earnest.com/hc/en-us/requests/new).

**Education Loan Finance**
Education Loan Finance is offering student loan payment assistance on a case-by-case basis. You can call 1 (844) 601-ELFI or email answers@ELFI.com to discuss your situation.

**iHelp**
iHelp is providing national emergency forbearance if you have not already defaulted on your student loans. Contact your iHelp representative to discuss your financial situation. Call 800-592-1270 or email service@slfc.com

**Laurel Road**
You may qualify for a payment extension or forbearance through Laurel Road. You can call MOHELA (Laurel Road's servicer) at 1 (877) 292-6845 to discuss payment options.

**LendKey**
Lendkey is handling payment assistance on a case-by-case basis. Contact the team by emailing care@lendkey.com.

**MEFA**
MEFA is offering payment assistance but does not provide details on its website. You can call MEFA's servicer, AES, at 1 (800) 233-0557 to discuss your financial situation.

**Navient**
If you have private student loans through Navient, you can request disaster forbearance for up to three months. Remember that interest will continue to accrue during the forbearance period. You may apply for Navient's Rate Reduction Program, which decreases your interest rate and monthly payment. Or you can ask Navient about its Interest Only Program or Extended Repayment Program. Call 888-272-5543 for more information.

**Navy Federal Credit Union**
Navy Federal Credit Union is offering forbearance for up to three months, although interest will continue to accrue. Discuss your situation with a representative by calling  1 (877) 304-9302.

**PNC**
You may be able to postpone or modify your payments through PNC. Call 1-800-233-0557 to discuss your situation with a representative.

**Prodigy Finance**
You can apply for forbearance for up to three months through Prodigy Finance, but interest will continue to accrue. If you were on time or ahead of schedule with your payments before applying for forbearance due to the coronavirus, Prodigy will keep reporting your payments as on time to credit bureaus.
You can contact Prodigy about forbearance by sending an email to payments@prodigyfinance.com.

**RISLA**
RISLA hasn't published details about payment assistance, but you can contact a representative at 1 (888) 758-7562 to discuss your options.

**Sallie Mae**
Sallie Mae is offering payment assistance for those affected by the coronavirus. You can speak to an agent about your options via online chat (www.salliemae.com) or call 800-472-5543.

**SoFi**
SoFi encourages you to apply for deferral if you can't make your next payment. If you continue to face financial hardship, the company will work with you to continue assistance. Remember that interest will continue to accrue and the term of your loan will lengthen. Call (855) 456-SOFI (7634)

**Wells Fargo**
Wells Fargo is offering payment assistance on a case-by-case basis. Contact Wells Fargo to discuss your financial situation at 1-800-658-3567.


Student Loan

# Renter Relief

Renters have some eviction protection from the Federal Government, but only if they live in a multifamily building or single family home that has a federally backed mortgage. Landlords cannot evict tenants of these buildings or charge any late fees, penalties or other charges for late rent payments. In addition, many municipalities have enacted renter and eviction protections during this time.

Many state and local governments have stopped evictions because of the coronavirus pandemic. The details of how renters are protected, and for how long, depend on where you live.

Some states have:

- Prohibited any eviction notices or action
- Stopped all court eviction hearings
- Stopped enforcing eviction orders or judgments

Visit the [Eviction Lab’s list](link) Eviction Lab’s list of state and local eviction and foreclosure limits to find out if your state or local community has eviction protections during this time.

For additional housing support resources, please visit [JustShelter.org](https://justshelter.org/). For more detailed information about statewide orders, please see the [COVID-19 Housing Policy Scorecard](https://evictionlab.org/covid-eviction-policies/).

Renter Relief

# Credit Cards

Like other lenders, credit card issuers are running a variety of  COVID-19-related payment hardship contact information. Here is a list of the best phone numbers and websites to get access to those programs.
 
**American Express**
American Express has a Financial Hardship Program available to customers who know they will fall behind on their payments. Possible remedies include a reduced interest rate, a waiver of late payment fees and a lowering of monthly minimums required to keep the account current. 
866-703-4169
[Website](https://www.americanexpress.com/us/customer-service/financial-hardship.html)
 
**Bank of America**
Bank of America has an online request for a payment deferral option on its secure website. You’ll see the option after you log in. 
800-732-9194
[Website](https://www.bankofamerica.com/banking-information/assistance/credit-cards/credit-cards-assistance-overview.go)
 
**Barclay’s**
Barclay’s has a range of options for cardmembers facing financial difficulties related to the coronavirus outbreak, including allowing them to skip a monthly payment while offering late fee waivers, cash advance fee waivers, finance charge adjustments and flexible review for credit line increases.
855-207-3506
[Website](https://cards.barclaycardus.com/banking/covid-19/)
 
**Capital One**
Capital One is “here to help” and encourages customers to contact them directly. Possible options include waiving fees and lowering minimum payments
800-227-4825
[Website](https://www.capitalone.com/coronavirus/)
 
**Chase**
Chase’s CEO Jamie Dimon put out a letter to shareholders in which he outlines steps Chase is taking regarding credit card customers. It’s important to note the letter states “customers who tell us about their financial struggles as a result of the crisis” will receive help. In other words, call Chase before you miss a payment.
800-432-3117
[Website](https://www.chase.com/digital/resources/coronavirus?jp_cmp=rb/CV/off/stayconnected/na)
 
**Citi**
Citibank has let customers know that if you contact them, the bank has options for you including credit line increases and collection forbearance programs
800-950-5114
[Website](https://online.citi.com/US/JRS/pands/detail.do?ID=covid19)

**Discover**
In a statement, Discover said it “will be extending relief to qualified customers who are experiencing financial difficulty caused by the spread of COVID-19. Discover customers may receive assistance that can include support related to payment timing, fees and late payments.”
800-983-1412
[Website](https://www.discover.com/coronavirus/)
 
**Synchrony (Branded cards – e.g. Walmart, Old Navy, Amazon**)
You might not recognize Synchrony Bank’s name, but if you have a store credit card, there’s a good chance that it was issued by Synchrony.  The company’s coronavirus help page has issued a statement:  “If you are impacted and unable to find what you need through our digital channels, please contact us to discuss how we can help.” The best way to reach Synchrony is via the number on the back of your credit card. Expect longer than usual hold times.
800-642-4720 or refer to number on back of card
[Website](https://www.mysynchrony.com/faqs.html)
 
**USAA**
800-531-8722
[Website](https://communities.usaa.com/t5/USAA-News/How-USAA-is-Responding-to-Concerns-about-Coronavirus-COVID-19/ba-p/226066)
 
**U.S. Bank**
888-287-7817
[Website](https://www.usbank.com/splash/covid-19.html)
 
**Wells Fargo**
800-642-4720
[Website](https://www.wellsfargo.com/jump/enterprise/coronavirus-response)



Credit Cards

# What is Auto Loan & Lease Forbearance

Know that under auto loan forbearance, your loan payments or lease payment  may be postponed or reduced, but interest could continue to accrue during the period of forbearance. If you don’t pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.


**Ally Financial**
Ally may defer payment for existing auto customers for up to 120 days without incurring late fees or finance charges and has terms for new customers as well. Contact Ally for specific information.
888-925-2559
[Website](https://www.ally.com/coronavirus-response)

**JP Morgan Chase**
800-336-6675
[Website](https://www.chase.com/digital/resources/coronavirus/auto-lending)

**Capital One Auto**
800-689-1789
[Website](https://www.capitalone.com/cars/learn/managing-your-money-wisely/what-is-a-loan-extension/1010)


**FCA**, which encompasses Fiat, Chrysler, Dodge, Jeep, Ram and Alfa Romeo, is encouraging customers to contact their loan servicer to discuss payment relief options. FCA customers may need to contact either Chrysler Capital or Ally Financial.
855-563-5635

**Ford or Lincoln Motor Credit**
800-727-7000
[Website](https://www.ford.com/finance/articles/payment-extension)

**Bank of America**
Bank of America has announced it will defer payments (payments added to the end of the loan) for auto loans upon request.
800-215-6195
[Website](https://www.bankofamerica.com/customer-service/contact-us/auto-loans/?topicId=vehicle_oth_loans)

**General Motors** (which includes Chevrolet, Buick, GMC and Cadillac) has set up a unique phone number for owners with questions or concerns about their loans.
800-284-2271

**Wells Fargo**
800-289-8004
[Website](https://update.wf.com/coronavirus/auto-lending/?_ga=2.259591690.1029604375.1593121135-1187898248.1591138670)


**Hyundai and Genesis** are both offering up to six months of payment relief for owners who lose their jobs, making it the most generous outright assistance package we've seen.
[Hyundai Website](https://www.hyundaiusa.com/us/en/assurance/hyundai-assurance)
[Genesis Website](https://www.genesis.com/us/en/genesis-cares.html)

**Mazda** has been working with its financing partner, Chase, to provide relief to owners. Chase has established a resources page where you can find out more.
[Website](https://www.chase.com/digital/resources/coronavirus/auto-lending)

**Toyota Financial Services and Lexus Financial Services** can be reached by phone or email to discuss payment extensions and deferments for leases and loans.
800-874-8822 
[Toyota Website](https://www.toyotafinancial.com/us/en.html)
[Lexus Website](https://www.lexusfinancial.com/us/en.html)

**Volkswagen** says buyers affected by the COVID-19 pandemic can get up to 90 days of payment assistance.
800-428-4034
[Website](https://www.vw.com/financial-services/)





Auto Loan & Lease


# COVID Safety & Tips

While many Americans are struggling financially during the COVID-19 pandemic, a few are flourishing -- including scammers. The Federal Trade Commission (FTC) reports that Americans have lost millions in COVID-19-related scams so far. That's probably not going to slow down until the crisis is over, so in the meantime, you need to be wise to scammers' tricks.

Here are the FTC’s warnings about scammers:
- Don’t click on links from sources you don’t recognize
- Ignore emails claiming to come from the Center for Disease Control
- Avoid online offers for vaccinations or treatments
- If someone is asking for donations in cash, gift cards or wiring money, stay away!
- Beware of “investment opportunities” in any company claiming that says it can detect, prevent or cure coronavirus.

**Other Sources of Information**

[COVID-19 Consumer Warnings and Safety Tips](https://www.fcc.gov/covid-scams)

[Coronavirus Scams: What the FTC is doing](https://www.consumer.ftc.gov/features/coronavirus-scams-what-ftc-doing)

[COVID-19 Department of Justice](https://www.justice.gov/coronavirus)

[COVID-19 Scams | US Department of the Treasury](https://home.treasury.gov/services/report-fraud-waste-and-abuse/covid-19-scams)

[Coronavirus phishing emails: How to protect against COVID-19 scams](https://us.norton.com/internetsecurity-online-scams-coronavirus-phishing-scams.html)

[Protect Yourself from Pandemic Scammers](https://www.fbi.gov/news/stories/protect-yourself-from-covid-19-scams-040620)




 
 


We’re here and ready to help.

Freedom Financial Network Cares

1-844-731-0886

Just because the world is changing doesn't mean we change our Mission.

Find personalized help with:

Frequently Asked Questions

Freedom Financial Network Cares

1-844-731-08861-844-731-0886

Just because the world is changing doesn't mean we change our Mission.

Find personalized help with:

Frequently Asked Questions

1-844-731-0886