Covid 19: Our Response, Latest Updates, and Advice for Financial Troubles

The Coronavirus, or Covid, disease, caused by the virus SARS-CoV-2, and the pandemic correlated to it, which began in 2019, seems to be finally under control, at least in late 2022. Nonetheless, the pandemic impacted the lives of many and spared almost nobody when it came to finances. Many are still trying to recover from the setbacks that occurred in about three years of emergency, more or less intense.

Here you can find the latest information on the stimulus checks issued by the government, as well as some quick tips if you find yourself in a financial struggle, having to pay off a loan but not being able to do it as per schedule. However, please do not panic: as we will explain in more detail below, there is always a way out, and there are many free counseling services aimed precisely at helping you get out of difficult financial times.

The team at DirectLoanTransfer keeps working while abiding by all safety measures to provide you with the services you need as usual, at the best of our possibilities, and completely free of charge.

Covid 19 Stimulus Checks Coming from the Government

Throughout 2020 and 2021, citizens of the United States have received a series of checks aimed at aiding those parts of the population more fragile and at risk of a financial crisis. The Internal Revenue Service (INS) refers to these checks as EIPs or Economic Impact Payments.

The first EIP was sent to eligible citizens for about $500 via direct deposit, prepaid debit card, or check. The second EIP was set at $600 according to the relief bill; nonetheless, at the end of the year, the US Senate was called on to consider a proposal, already accepted by the House of Representatives, to increase the payment amount from $600 up to $2,000.

President Joe Biden’s $1.9 trillion financial rescue plan for difficulties arising during the Covid 19 pandemic included the third round of stimulus checks.

Tips If You Are Struggling to Pay Back a Loan During the Covid-19 Pandemic

Here are a few words of advice if you find yourself in a risky financial situation (the pandemic has caused many of these) and you have to repay a loan.

• Do not ignore the problem. Ignoring it will only make the problem bigger. If you do not face it as soon as possible and don’t find a way to pay the debt, the loan will “default,” and you will incur a spiral of even more interest rates, late payments, non-payment fees, and more.
• Do not panic. Contact your payday lender asap and communicate your problem with them. Remember that by law, they must indicate to you sources of free and independent debt counseling and treat you fairly, not torment you with constant calls or messages. Ask them about the consequences of all the steps you can take (delaying the payment, freezing it, etc.). Keep a copy of all the written interactions you have with the lender!
• Contact the national debtline or other free debt advice services. They are available on local territory or online, and they are prepared to suggest to you all the necessary steps to take depending on the specific and delicate situation you find yourself in.
• Remember to check whether you apply for the government stimulus we discussed above. You can find information about it on governmental websites, which are specifically designated for people in serious financial difficulty.