Stressed Man

Covid-19 impact has been felt around the world and we understand the impact it had here at home as well. While the financial impacts of the coronavirus pandemic are still developing, bill payment behavior is quickly changing as consumers tighten their spending habits and adapt to the economic uncertainty of the months to come. We want you to know that you are not alone and we are here to provide support.

If you been impacted by Covid-19 and need assistance with your mortgage payment or your overall financial situation, we are here to assist. Please contact us at 866-550-8099.

 

COVID-19 Bill Pay Impact Report Findings:

  • 69% of households do not have enough in savings to last four months.

    • 35% of households are not able to make it more than one month without running into a cash shortage.

  • 82% are worried about making ends meet until the economy begins to recover.

    • Younger generations are more worried than Baby Boomers and older age groups.

  • 59% of households are worried or very worried about their ability to cover upcoming rent or mortgage payments.

    • Rent, auto loan, mortgage, and utilities all have at least 58% of consumer’s worried or very worried about staying current on bills due in coming months.

  • 36% of Americans are already paying bills late or will have to in the next month.

    • Late payments are occurring twice as frequently as before the crisis.

  • More people intend to start paying bills with a credit card.

    • 33% of people say they are likely or very likely to start using credit to pay bills, which is double the typical usage of credit for bill payments.

    • 40% say they will start paying off their credit with installments or will decrease their usual installment payments if they already carry a month-to-month balance.

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South Jordan, UT 84095, USA

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