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If the COVID-19 crisis has already had an impact on your finances, and you’re worried about covering your bills or monthly payments, one of the best things to do now is to reach out and ask for help.
That means triaging your top-priority bills, like housing, utilities and cell phones. If you can’t cover the balances due, pick up the phone and work out an arrangement with each company that helps you remain in good standing.
The same goes for your bank, insurance company, mortgage lender or credit card issuer.
The sections below detail the steps some financial institutions have taken to help customers affected by the coronavirus pandemic. Note that many phone lines are overwhelmed, so do what you can online before picking up the phone.
Skip to see help by financial product
Large banks
Bank of America
Bank of America can waive overdraft fees and defer payments on credit cards, auto and mortgage loans for customers, according to its COVID-19 response page. Customers can log in to submit a payment deferral request online.
General contact: Find the correct phone number by using the company’s contact page.
Capital One
Capital One isn’t offering specific information about plans to help consumers on its COVID-19 response page. The company encourages customers who are having financial hardships to contact the bank directly.
General contact: 877-383-4802
Chase
Chase recommends customers do what they can — including requesting credit card, mortgage and auto loan deferments — by enrolling online or logging in.
The company has a separate page for small businesses, which includes a link to apply for the Paycheck Protection Program.
General contact: 800-935-9935
Citi
For eligible customers Citi says is waiving non-Citi ATM fees, monthly service fees and early-withdrawal fees on CDs through May 8, according to the company’s COVID-19 response page.
Customers may get two statement cycles’ worth of monthly payments and late fees waived on credit cards and personal loans.
Small businesses may get monthly service fees and remote deposit capture fees waived. Small business customers can also get penalties waived on early CD withdrawals.
General contact: 800-374-9700
Discover
Discover cardholders who are having financial difficulties may be able to make changes in payment timing and receive waived fees on personal loans, according to a spokesman.
The company offers an FAQ on its COVID-19 response page.
General contact: 800-347-2683
U.S. Bank
U.S. Bank is offering small personal loans and small-business loans to those who have suffered financially because of the coronavirus outbreak.
The company says it’s offering deferred payments to those with auto, boat and RV loans. Mortgage customers may get their payments suspended for up to 180 days.
Personal loans
Simple loan
- Fee: $6 for every $100 borrowed.
- Loan amount: $100 – $1,000.
- Term: 3 months.
Personal loan
- APR: 2.99%
- Loan amount: $1,000 to $4,999.
- Term: Up to 48 months.
Small-business loans
Quick loan
- Interest rate: 2% lower than the rate a business would normally qualify for.
- Loan amount: $5,000 to $250,000.
- Terms: 12 to 84 months.
Cash Flow Manager (secured and unsecured line of credit):
- Interest rate: 1% lower than the rate a business would normally qualify for.
- Line of credit amount: $10,000 to $250,000.
You can check for other updates on the U.S. Bank COVID-19 response page.
General contact: 888-287-7817
Wells Fargo
Customers who contact Wells Fargo may be able to get fees waived or payments deferred on credit card, auto, small-business and personal loans, according to the company’s COVID-19 response hub. The bank says it has suspended residential property foreclosure sales, evictions and involuntary vehicle repossessions.
Customers can log in or contact the bank to suspend mortgage payments for an initial three months, according to an FAQ page dedicated to mortgage assistance.
Small-business customers interested in the Paycheck Protection Program can log in and request assistance. Wells Fargo will then email customers with next steps, according to an informational page on the program.
You can find out whether your local branch is open on the bank’s ATM and branch locator page.
Wells Fargo is also supporting a free financial counseling program put on by Yellow Ribbon Network and the Association for Financial Counseling and Planning Education. The program provides advice on spending, how to use the government relief check and can address other concerns. You can apply on Yellow Ribbon Network’s website.
General contact: 800-869-3557
Help by financial product
Many credit card issuers offer hardship programs that can temporarily adjust the terms of your card account if you’re having financial problems. Among hardship options an issuer might offer are lowering the minimum amount due, reducing the interest rate for a period of time or waiving late fees. Multiple issuers have said they’re ready to help account holders during the pandemic, but accommodations are made on a case-by-case basis.
To ask about options, you’ll have to start by contacting customer service. Call the number on the back of your card, or log into your account online and start a chat, if the issuer offers live chat. Be prepared to wait, though.
The phone number printed on the back of your card is the best one to call. Here’s a list of popular credit cards and customer service numbers, along with the contact pages.
American Express: 866-703-4169
Bank of America: 800-732-9194
Barclaycard: 877-523-0478
Capital One: 800-227-4825
Chase: 800-432-3117
Citi: 800-950-5114
Discover: 800-983-1412
U.S. Bank: 800-285-8585
Wells Fargo: 800-642-4720
The type of relief options available to student loan borrowers depends on the type of debt — federal or private.
Federal student loan borrowers can get relief by suspending payments on their loans for 60 days retroactive to March 13. Whether you pause payments or continue to make them, federal loans will automatically not incur interest during this period.
Borrowers must contact their loan servicer to request the forbearance.
More relief for federal loan borrowers is expected.
If you think your income won’t recover or your job will be impacted for the long term, consider applying for income-driven repayment, which sets payments at a portion of discretionary income — between 10% and 20% — and forgives the balance after 20 or 25 years. Sign up at studentaid.gov.
For borrowers who experience short-term job loss, forbearance is the way to go. But if you expect to be underemployed or unemployed for a longer period of time, ask your servicer about unemployment or economic hardship deferment for your student loan.
Private lenders typically offer forbearance or deferment up to 12 months or longer, but interest will accrue during a pause in payment.
During the coronavirus crisis, some lenders are offering additional relief, such as additional short-term forbearance or deferments, or waiving or refunding fees.
Many lenders are continuously updating their relief efforts with COVID-19-related FAQ pages on their websites. This includes:
Ascent
Citizens Bank
CommonBond
Discover
Earnest
Education Loan Finance (ELFi)
First Tech
Laurel Road
LendKey
MEFA
Navient
Navy Federal Credit Union
PNC
RISLA
Sallie Mae
SoFi
When in doubt, contact your lender to find out what options are available before you skip payments.
If you’re struggling to make a payment on a personal loan, your first step should be to call the lender to avoid late fees and hits to your credit score.
Your loan isn’t usually in default until it’s at least 30 days late, but lenders have different rules.
» MORE: What happens if I default on a personal loan?
Some lenders already have hardship plans for personal loans set up. You may be able to defer a payment or avoid late fees if you contact them and explain your situation.
Here’s a list of lenders, links to any COVID-19 responses they’ve issued and the best way to content them.
American Express: 866-703-4169
Chat with AmEx customer service by logging in
Avant: 800-712-5407
Email: [email protected]
Best Egg: 855-282-6353
Email: [email protected]
Citi: 800-374-9700
Citizens Bank: 888-333-0246 for questions about personal loan applications
866-999-0107 for questions about existing personal loans
Earnest: System & Services Technologies services Earnest’s personal loans; the phone number is 866-798-9888
You can also contact Earnest via the company’s online form. There’s an option to choose financial hardship due to the coronavirus as the reason for making contact.
HSBC: 800-975-4722
LendingClub: 855-408-1375
Online contact form
Marcus: 844-627-2871
OneMain: 888-866-7287
Online contact form
Payoff: 800-878-0901
Email: [email protected]
PenFed: 800-247-5626
Online contact form
PNC: 888-762-2265
Prosper: 866-615-6319
U.S. Bank: 888-287-7817
Generally, a missed insurance premium payment would leave you uninsured after 30 days, but many insurers are willing to work with customers during this crisis to delay payments with no penalty. As with many other bills and institutions, your best course of action is to call the insurer as soon as you know you’ll be late making a payment.
Life insurers
AIG:
Life: 800-888-2452
Variable Universal Life: 800-340-2765
Guardian Life: 888-482-7342
John Hancock: 800-732-5543
Lincoln Financial Group: 800-487-1485
MassMutual:
All life insurance: 800-272-2216
Guaranteed acceptance and simplified whole life insurance: 844-872-2200
Nationwide: 855-590-9777
New York Life: 800-225-5695
Northwestern Mutual: Try your local office or call 866-950-4644
Pacific Life: 800-800-7646
Penn Mutual: 800-523-0650
Prudential: 800-556-8527
State Farm: Call your State Farm insurance agent. The general number is 1-800-782-8332.
Transamerica: 800-797-2643
Auto, home and life insurers
Allstate: Call your Allstate agent. The general number is 800-255-7828.
American Family: 800-692-6326
Amica: 800-242-6422
Auto Club of SoCal (AAA in Southern California): 800-924-6141
Auto Club MI Group (AAA in several Midwest states): 800-222-1134
Auto-Owners: 800-288-8740
CSAA (AAA in Northern California and several other states): 800-922-8228
Erie: 800-458-0811
Farmers: 888-327-6335
Geico: 800-207-7847
The Hartford: Non-AARP members call 877-896-9320; AARP members call
800-423-6789.
Kemper: 866-860-9348
Liberty Mutual: 800-290-7933
Mercury: 800-503-3724
MetLife: Call 800-438-6381 if you have MetLife home or auto insurance through an
employer; call 800-422-4272 if you have individual coverage.
National General: 888-293-5108
Nationwide: 877-669-6874
NJM: 800-232-6600
Progressive: 800-776-4737
Safeco: Call your local independent agent. The general number is 800-332-3226.
State Farm: Call your State Farm insurance agent. The general number is 800-782-8332.
Travelers: 800-842-5075
USAA: 800-531-8722
The U.S. Treasury secretary moved the IRS tax filing deadline to July 15. That’s also the last day to pay any taxes you owe.
If you have questions about deferring your taxes, try one of these little-known IRS phone numbers.
Self-employed taxpayers with account or tax law questions: 800-829-4933
Balance due questions: 800-829-0922; 800-829-7650; 800-829-3903
To check the status of a tax refund: 800-829-1954
To check the status of a tax refund being held: 866-897-3315
If you would rather check the status of your refund online, NerdWallet can walk you through that.
If you’re concerned about falling behind on your taxes, you have a few options to get relief. You can set up a payment plan with the IRS, apply to settle back taxes for less than you owe or temporarily put them on hold.
» MORE: How to set up an IRS payment plan or installment agreement
NerdWallet Guide to COVID-19
Get answers about stimulus checks, debt relief, changing travel policies and managing your finances.
