As COVID-19 (coronavirus) continues to spread, you may be worried that your financial situation could be affected either directly or indirectly by the virus, and that you may find yourself with a debt problem.
What do I have to do?
Coronavirus poses a very serious health risk. If you're directly or indirectly affected by the illness, your first priority must be to look after your or a loved one's health. In addition to following whatever medical advice you receive from the NHS, you should carefully follow the right course of action recommended by other authorities, including self-isolation if necessary.
Only once it's right to do so should you turn your mind to your financial situation.
If you're worried about the impact of the illness on your finances, the first thing to do is speak to your bank, lender or credit provider. Most creditors are willing to be flexible and supportive to anyone who is affected by coronavirus, to try and prevent them falling into further debt.
However, it may be that your creditor isn't able to help you enough to prevent you from experiencing debt problems, If you're placed on Statutory Sick Pay (SSP) by your employer, you may find this money isn't enough to cover your usual outgoings. If this is the case, you should contact us for free, expert debt advice as early as possible.