Car Loans of America

As the financial impact of the coronavirus pandemic continues to hit more Americans, helpful resources are emerging.

LOS ANGELES, CALIFORNIA, UNITED STATES OF AMERICA, April 13, 2020 /EINPresswire.com/ -- One of the fastest-growing fallouts of coronavirus is a spike in the unemployment rate in the U.S., especially in the travel and hospitality industries, which have been hit hardest as restaurants and bars are ordered to close and people remain home instead of traveling about.

If you have been laid off, apply for unemployment immediately, according to ABC News chief economic correspondent Rebecca Jarvis. You can find out whether you qualify for unemployment benefits by searching your state on the U.S. Department of Labor's website. Know that you might also qualify for Disaster Unemployment Assistance because President Donald Trump last Friday declared the coronavirus pandemic a national emergency.

The Treasury Department on Wednesday pitched the details of President Trump's $1 trillion economic stimulus proposal to Congress, representing his top priorities for phase three of the federal government’s response to the coronavirus pandemic.

The proposal, obtained Wednesday by ABC News, would authorize two $250 billion rounds of direct payments to individual taxpayers, with the first payment issued beginning April 6. Another wave of payments would be distributed to taxpayers beginning May 18.

Call your wireless provider and explain that you have been laid off due to the coronavirus. Many providers have said they'll keep your service going. Your credit card company may be willing to waive fees and interest. Let your landlord know more about your financial situation.

President Trump announced that the U.S. Department of Housing and Urban Development (HUD) is suspending all foreclosures and evictions through the end of April. "Shark Tank" star Barbara Corcoran recommends giving your landlord a heads-up that you are struggling financially, contacting your bank about mortgage payments and reaching out to utility providers for relief.

Dan Joelson
Car Loans of America
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