What To Do If You Can't Pay Rent Because Of Coronavirus Job Loss
The coronavirus pandemic is responsible for some of the most staggering unemployment numbers our country has ever seen. In the last week alone, 6.6 million peopleapplied for jobless benefits, according to the Labor Department. That number is expected to increase, and the unemployment rate may ultimately reach 32%.
Even though the coronavirus has significantly altered most aspects of daily life, one thing that hasn’t changed is the cost of living. Though some workers are fortunate to still have their jobs, many will be forced to make tough decisions about which bills get paid.
Nearly 3 in 4 Americans report personal finance challenges as a result of the crisis, according to an analysis by data research startup Elucd. Seventy-two percent of Americans are unable to pay their expenses as normal, while 18% report being completely unable to cover their expenses this month.
For most, housing is the largest monthly expense. That means millions of Americans are struggling to come up with their rent for April and beyond.
Ashley Hubbard, a 33-year-old freelance writer and blogger, is one of them. She couldn’t afford her $1,365 rent payment for April and is worried things won’t look any better in May. As someone who primarily covers the travel industry, the Nashville resident estimates her income has decreased by 80% to 90% over the last couple of months.
“I had multiple campaigns I was working on either be canceled or postponed indefinitely,” she said. “One, in particular, was a yearlong technical writing contract set to begin right at the time everything happened and was canceled with no set date to pick it back up again. Many publications are no longer accepting pitches, which drastically has narrowed the pool of opportunities.”
Hubbard was able to work out a payment plan with her landlord for her April rent. However, the solution is only temporary. “They are offering to break up the payment into four payments over the course of April and...
