In mid-March, Pennsylvania took steps to protect its citizens from creditor collection actions. Millions of Pennsylvania residents were experiencing drastic loses of income through mass layoffs due to the COVID-19 pandemic.
State courts were closed, which left creditors unable to file or
proceed with lawsuits. Evictions were put on hold. Sheriff's sales were delayed and utility shutoffs were prohibited.
Picture this: You owe a ton of money on your credit cards. You’re at risk for falling behind on your house and car payments, even though you’re up-to-date currently.
You make your payments, but your bills look pretty much the same month after month. It seems like most of your payments are going to interest. You don’t see a way out.
It’s been less than a week since Pennsylvania Gov. Tom Wolf ordered all bars and restaurants to provide take-out service only due to the Corona virus crisis. It’s been less than 24 hours since the governor ordered all non-life-sustaining businesses to close their physical locations. It’s been less than three full days that I have been working from home and it already feels like the calls and emails from people being impacted by these shutdowns are non-stop.
Imagine coming home after a long day at work, only to find your house padlocked and all of your belongings thrown to the curb.
The scenario may sound unrealistic for most of us, but for a number of homeowners who are behind on their mortgage payments, it’s an everyday reality.