Many are suffering from a job loss, cut back in hours or living in fear of losing a job. Many people don't have the luxury of “remote working” or working from home. Many waiters, bartenders and others, based on an archaic state law, get paid only $2.13 per hour, plus whatever they are able to earn in tips.
If you have been hit with a job loss or a sudden loss in pay, it is easy to fall into despair, or to be paralyzed into inaction because of fear. You may feel helpless or alone. Fear really is the enemy. Fear causes us to shut down, our brain stops thinking and goes into flight or fight mode. You need to be aware of the changes you will experience because of fear and consciously chose to work around these.
First, recognize that your brain is shutting down rational thought and urging you to run or to stay and fight. Second, make a plan to deal with your finances. Prioritize food, shelter and transportation. Fear leads to panic buying. Buy what you need following the recommendations of FEMA and trusted local officials. Determine how much cash you have and how much you are going to need. It might not be enough. You may have to make tough choices. Pay your rent and your mortgage or call them and tell them you cannot and make a plan. Suggest a forbearance agreement; a plan to place payments over the next two or three months on the back of your loan, or to defer some part of your rent until you are back at work and pick up the missing rent in portions once you are back at work. Do the same with your vehicle loan.
Don't ignore your problems. Even though there is no magic wand to waive away the issues created by loss of income, practical advice by a caring lawyer can go a long way to put aside your fears and to put a plan into action for you.
Don't fall for offers that seem to be to good to be true. A crisis will always bring out the worst in some people and the worst predators seek to feed off of fear. Hint, if someone makes you an offer to settle your debt, but wants to be paid before ALL of your debs are settled, it's a scam. (unless you are dealing with a local non-profit consumer credit counseling service, generally these are funded by the United Way, check their website)