Managing your finances
If you are facing financial difficulties as a result of the pandemic, we have resources to protect and manage your finances.
What to do if you’re struggling to pay bills
There are ways to get help if you are struggling to pay your bills due to the financial impact of COVID-19. But if you can still pay your bills, you will likely be better off staying on track.
Options when you can’t make payments
If you have trouble paying your bills, loans, or paying on time, there may be a number of options to help, especially if you reach out early to your lenders or creditors.
Before you withdraw money from other sources
If you’re out of work and need income, find out what you should consider before withdrawing from your retirement savings or using home equity to cover expenses.
What to do if you lose your income
In March 2021, Congress passed, and the President signed, legislation providing an additional $300 weekly federal enhancement to all workers entitled to unemployment benefits. The supplement begins after March 14, 2021and ends on September 6, 2021. The legislation also extends the Pandemic Unemployment Assistance program which provides unemployment assistance to the self-employed and gig workers. Contact your state’s unemployment office or program for information or to apply for benefits.
By Executive Order on August 8, 2020, the Federal Emergency Management Agency (FEMA) was authorized to award grants to states and territories to administer as a supplemental unemployment payment. These supplemental payments from FEMA are in addition to unemployment insurance benefit paid by your state and will also be administered through your state and not FEMA. You can to see if your state has been approved to provide this assistance. Check with your to see how to apply for these supplemental payments.
Direct deposit options for unemployment benefits
Overview of pandemic unemployment benefits, options for how to receive money, value of using direct deposit to receive benefits, how to sign up for direct deposit, info on possible scams, and other tools to help manage money.
4 steps to resolve an unemployment benefits card error due to suspected fraud
- Find contact information for the bank that issued the card. You can generally find the contact information for the bank on the back of the card, when you log into your account online, or with the materials you received with your card.
- Contact the bank right away and let them know that you are having an issue with your card and suspect fraud. You should contact them right away if you suspect fraud on your account. Depending on the circumstances, if you wait too long to report, you could be responsible for more or all of the unauthorized or incorrect charges. Ask them how to file an error notice. If you are having trouble contacting your bank, go to step 4.
- File an error notice with the bank that issued the card. You can do this either by phone or in writing. Some banks may require you to follow up with a written confirmation after you notify them over the phone. If filing in writing, confirm the address where you are mailing your complaint. Once you file a notice, the bank will need to investigate the issue. They will get back to you with information on what was found during their investigation and what the next steps are. The investigation may take up to 45 or 90 days in some circumstances.
- If you can‘t reach your bank, do not hear back, or feel that your issue has not been resolved, you can submit a complaint to the CFPB. We’ll forward it to the bank and work to get you a response.
How to take control of your finances
Deal with debt
There are a number of steps that you can take to help manage debt in the face of the coronavirus pandemic. You can look to your state’s unemployment policies to identify current options for benefits. Your state’s public health office may also have information.
Protect your credit
Your credit reports and scores play an important role in your future financial opportunities. See steps to manage and protect your credit during the COVID-19 (coronavirus) pandemic.
Explore online banking tips
If you’ve been on the fence about doing your banking online or through a mobile app, now is a good time to get started as financial institutions change their branch hours during the COVID-19 pandemic.
Other federal resources to help you protect your finances
Find out how to get emergency financial help from the government if you've been the victim of a disaster. This can include disaster unemployment assistance, special home loans for disaster victims, and disaster tax relief. Read what's included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Personal finance, consumer protection information, and steps for quicker financial relief.
Information on Economic Impact Payments, also referred to by some as stimulus payments, are automatic for most taxpayers.
Frequently asked questions for bank customers impacted by the COVID-19 pandemic and information on scams where imposters are pretending to be FDIC representatives to commit fraud.
Frequently asked questions on bank services and accounts, bank closures or reductions in operating hours due to the COVID-19 pandemic.
Frequently asked questions for federally insured credit unions and their members.