Managing your bills during COVID-19.

COVID-19 has thrown the economy into a tailspin. Many people have been laid off, furloughed, or are working fewer hours. And as wages dry up, bills can pile up. Here are some ideas about how you can manage your debts and start regaining your financial footing.


Get organized

Make a list of your monthly bills: rent/mortgage, car payment, utilities, student loans, medical bills, and anything else. Factor in how much you need for food, medicine, and other necessities. Croghan has a great tool with Online Bill Pay. You can organize all of your bills from a payment center, sign up for electronic bills and schedule your payments. Learn more about Online Bill Pay.


Ask for help

Many companies have special programs to help people right now. Contact the companies you owe money to and try to work out a new payment plan with lower payments or delayed due dates. Make sure to get any changes in writing.

Find out if your state or local government offers programs that will allow you to hold off on paying some bills right now.
Trouble paying your Croghan loan? Contact our Coronavirus Hardship Assistance Line at 419-333-4700 to discuss your options in delaying payments.


Prioritize if you need to

If you still can’t pay everything on time, look at what would happen if you couldn’t pay each bill and decide which to pay first. Would you lose your home? Would your car be repossessed? Would your debt go into collection and affect your credit report?


Study up

The Federal Trade Commission has some great advice on how to cope with debt in the short term, and how to get out of debt when you are able.


Watch out for scams

In stressful times, scammers are everywhere. Beware of any company that guarantees that creditors will forgive your debts, or makes you pay up front for help. If you feel you are being scammed, contact your local branch immediately.


We’re here for you

As always, Croghan is here to help you through this difficult time. Contact your local banker for help with one of the suggestions above, or for assistance setting a new monthly budget.

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