Staying Steady in Uncertain Financial Times

Times may feel uncertain right now, and many people are worried about how to keep up with bills. The good news is that there are practical steps you can take to protect yourself. This guide is designed to give you clear information and tools so you can make thoughtful choices and reduce stress.

1. Prioritize Essentials
Cover housing, utilities, food, transportation, and medicine first. If money is tight, focus on what keeps you safe and secure.

2. Contact Your Creditors Early
Don’t wait until you miss a payment. Call or write your credit card issuer, explain your pay disruption, and ask about hardship programs, payment deferrals, or alternate repayment plans.

Ask explicitly for “hardship assistance” or “financial relief.” Many issuers have policies under these categories that can reduce interest, waive late fees, or allow deferrals.

3. Document Your Situation
Be ready to show proof you’re impacted (e.g. furlough notice, missed paycheck). Keep notes of who you spoke with, dates, and what was promised.

4. Prioritize Your Debts
If you can’t pay everything, focus first on secured debts (like mortgage or auto loans) or those with severe outcomes if missed. Try to make at least the minimum payments on credit cards if possible, to protect your credit.

If you’re already on a Debt Management Plan (DMP): Don’t panic if you think you may miss a payment. Contact your counselor right away—they can help you communicate with creditors, adjust your plan temporarily, and protect your progress. Staying in touch is far better than missing payments in silence.

5. Consider Professional Help
A nonprofit credit counseling agency can negotiate with creditors on your behalf, often lowering interest or structuring manageable payments. Explore whether a debt management plan (DMP) fits your needs.

6. Monitor and Protect Your Credit
Check your credit reports for errors or negative entries. If a creditor promises not to report missed payments under a relief agreement, verify that it’s being honored.

7. Get Everything in Writing
If a creditor offers relief, ask for written confirmation. Make sure you understand how long relief lasts, what’s waived, what’s deferred, and what happens when relief ends.

8. Be Cautious About Quick Fixes
Avoid debt settlement companies or “debt forgiveness” offers that sound too good to be true. These may damage your credit and cost more in the long run. For guidance on avoiding scams, see the FTC’s Debt Relief Info.

9. Adjust Spending Quickly
Pause non-essential expenses like subscriptions, travel, or entertainment. Delay major purchases until income stabilizes. Look into community resources for temporary support.

10. Reach Out for Support
You don’t have to face this alone. Contact us for confidential counseling and guidance. Acting before you miss payments gives you the most options and reduces stress later.

You may not be able to control the shutdown, but you can take steps to protect your finances and buy yourself time until things stabilize.
Remember, you are not alone in this. As Mr. Rogers reminded us, “look for the helpers.” We are here to be part of that circle of helpers—ready to listen, guide, and support you. Reaching out early can make all the difference.

Published Oct 6, 2025.