We understand that money is tight right now and many need financial help more than ever. These resources can help you plan, decide what to pay and what to wait on, and give you tips and tricks on how to talk to creditors. Financial institutions have been encouraged to work with customers who have been affected by coronavirus - this may mean waiving certain late fees, delaying payments or more. The best thing is to contact your landlord, lender, or creditor as soon as possible to make arrangements.
Be sure to consider your options before taking an emergency loan that can often be quite costly. If you’re forced to take a short term loan, look at low interest loans from credit unions and local banks that are licensed with the Washington State Department of Financial Institutions. Finally, only borrow what you can pay back.
Rentals: As of April 16th, 2020, Governor Jay Inslee has expanded a moratorium on evictions through June 4, 2020. After that, your landlord cannot require you to vacate without providing you a thirty-day notice. If you are having trouble paying your rent, be sure to contact your landlord as soon as possible. They may be willing to defer payments or waive any late fees if you talk to them ahead of time.
Mortgages: You may qualify for a delayed foreclosure or forbearance due to pandemic-related hardships. If you cannot pay your mortgage, whether partially or in-full, contact your mortgage lender immediately.
Student Loans: Principal and interest payments on federally-held student loans are automatically suspended through September 30, 2020, thanks to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. You do not need to apply to suspend payments or interest. You may qualify for additional student loan relief.
Credit Cards: Find out what you should do if you can’t pay your bill and how to get a credit counselor
Food & Medical Assistance: You may be eligible for assistance, learn how to apply for them
Utilities: Governor Jay Inslee has suspended disconnection for paying electric bills late, waiving late fees, and expanding bill assistance programs. Contact your specific utility company for details.