One of the worst parts of the Coronavirus shutdown is the uncertainty. When will it end? What bills will still have to be paid? When will they have to be paid? Will my job still be there?
No matter what the answers are to any of those questions, there are some things you can start doing now to be prepared for whatever the answers are.
Here is a list:
- Check your credit report;
- Make a list of everyone you owe money to — names, addresses, account numbers, contact telephone number, total amount owed, payment amount due;
- Get your 2019 taxes prepared if they aren’t already (and any missing prior years while you are at it);
- Review your household budget;
- Collect pay stubs or other evidence of income for at least six months.
This information will help you deal with creditors when it is time to do that. It will help you apply for whatever forms of assistance may be available for you. It will help you prioritize what income you have (now or later); and, if necessary, it will facilitate a bankruptcy filing if that becomes necessary.