As each one of us navigates this new daily life there is a lot of uncertainty what tomorrow will look like. Please take a moment each day and be thankful for your loved ones! Today, we got some good news that the Senate has passed a $2 Trillion Stimulus Bill. At this time there is very little information out there on how these funds will help small businesses and households. Right now we are on edge and want to know when this will all end.  How do we get through this? We go on the OFFENSE! In a time like this, we all need to ensure our basic needs are covered. How do you get those basics covered? 

  • Determine what you need to live on a monthly basis
    • Rent, mortgage payment
    • Utilities
    • Food
    • Car payment
    • Health Care 
    • All other bills

 

  • Are you eligible for unemployment benefits?
    • If yes, make sure you apply immediately
    • If no, are you eligible for other State or Federal assistance

 

  • Contact your Landlord or Mortgage Company
    • Ask for a deferment or forbearance for your monthly payment
    • Determine what option works best for your situation
      • If you need HELP please call us at (812) 777-5850 or email us at Ryan@truvest.co. Free of charge! 

 

TIP: Deferred/forbear payments-Options

  • Deferment- Could be moved to the back of your loan or rental agreement-Extended terms
    • Could increase your monthly payment
  • Forbearance- You will not have to make payments for a period of time
    • Payments can be moved to the back of your loan OR
    • The payments will be added to the balance of your mortgage or rent.
    • This option could increase your monthly payment
  • Contact other creditors
    • Ask if they offer deferment/forbearance/hardship programs

 

Next Steps: Side Hustle

 

Stay tuned!