Update on help with credit cards and car loans

Roughly 1 in 4 Americans are out of work and struggling to pay their bills and feed their families.  Many rideshare drivers are part of this group.  

On our blog post dated April 15th, we provide some information on finding help with your credit card bill and more. However, some of those details have changed and additional help is now available. CreditCards.com has a great breakdown on what some of the major credit card companies are doing to help their card holders. Each company has different kinds of assistance available so check this site and see if your card is listed.

Another place to look for savings is to refinance your car loan. If you have good or excellent credit, you will likely find banks and credit unions opening up their doors to you. I recently did a search and found a credit union in San Francisco offering car loans for as low as 0.99% APR. 
Borrowing money is cheap right now. With rates like this, it’s worth checking to see what savings may be available for you!

But what if you are struggling to just make your car payment? There is help here too. Debt.org suggests you first call your lender and ask about any hardship assistance programs you may qualify for. Financial hardship assistance is an umbrella term for options like refinancing, forbearance and deferral. The lender may allow you to skip a payment and add it to the end of the loan or refinance your loan altogether. 

It all may seem overwhelming – but it is better to reach out to your lenders and ask than do nothing and stay worried.

Tomorrow: Black Lives Matter – corporate support including Ube

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