Be Proactive and Keep in Mind these things:

Deposits Are Safe In Federally Insured Banks and Credit Unions

Federally insured banks and credit unions offer a safe place for members to save money. All deposits at federally insured banks and credit unions are up to at least $250,000 per individual depositor. For more information visit www.fdic.gov for federally insured banks, or www.ncua.gov for federally insured credit unions.

Trouble Paying Credit Cards

If you have seen a reduction in pay due to COVID-19 and are struggling to make your credit card or loan payments, contact your lender right away. Explain your situation and ask about hardship programs that may be available. Regulatory agencies have encouraged financial institutions to work with customers impacted by the coronavirus.

Credit card companies and lenders may be able to offer you a number of options to help you. This could include waiving certain fees like ATM, overpayments, and late fees, as well as allowing you to delay, adjust, or skip some payments.

Additional Resources:

Trouble Paying Your Mortgage

If you do not have enough money in savings to cover your mortgage payment or rent, contact your lender or landlord immediately.

Don’t wait until you’re behind on payments. Lenders may work with you to waive late fees, set up a repayment plan or offer loan forbearance.

Additional Resources:

Trouble Paying Rent

If you are unable to make your full rent payment, contact your landlord immediately and try to work out an agreement. The Department of Housing and Urban Development offers counseling from organizations that can help help you make the right decisions and point you towards the right resources. *Note that few landlords currently utilize HUD programs so this may be limited resource in Skagway

Student Loans Deferment

If you’re having trouble making payments, contact your loan servicer as soon as possible. If you have a Federal Perkins Loan, contact your school. You can easily avoid the consequences of delinquency or default by staying in touch with your servicer or school.

Your servicer or school can provide information about deferment or forbearance options that allow you to temporarily stop making payments on your loans. You may also be able to change to a different repayment plan that would give you a lower monthly payment.

Additional Resources:

Short Term and Emergency Loans

Consider your options before taking out a high cost short term loan. Talk with your creditors to negotiate more time to pay bills, borrow from friends or family, or explore low interest loans offered by local banks and credit unions. If you do take out a short term loan, make sure the lender is licensed and borrow only what you can afford to pay back.

Avoiding Scams

Consumers should be on alert for increased fraud during the COVID-19 outbreak. Consumers should be vigilant about protecting their finances and should not share financial or other sensitive information with anyone who contacts you unsolicited.

Here are some tips to help you keep the scammers at bay:

  • Your bank or credit union should not ask for you financial account details via email. If you receive an email, contact your bank or credit union with the contact information listed on their website.
  • Don’t click on links from sources you don’t know. They could download viruses onto your computer or device.
  • Watch for emails claiming to be from the Centers for Disease Control and Prevention (CDC) or experts saying that have information about the virus. For the most up-to-date information about the Coronavirus, visit the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).
  • Ignore online offers for vaccinations. There currently are no vaccines, pills, potions, lotions, lozenges or other prescription or over-the-counter products available to treat or cure Coronavirus disease 2019 (COVID-19) — online or in stores.
  • Do your homework when it comes to donations, whether through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone wants donations in cash, by gift card, or by wiring money, don’t do it.​

Additional Resources

The information provided on this website does not, and is not intended to, constitute legal or medical advice; all information, content, and materials on this site are for general informational purposes only.