How Can You Get Instant Debt Relief Amidst Coronavirus Pandemic?
Updated: • 4 min read
The economic situation in the country is horrendous right now. All thanks to the COVID-19 outbreak worldwide. Most companies are either shut down or employees are working from home. Economic growth has stalled, and no one knows when the situation will improve. Many have lost their jobs. Others are forced to work with a pay cut. And, amidst all these depressing scenarios, you have to pay your credit card bills, payday loans, utility bills, and so on.
Honestly speaking, the entire world is in an unofficial financial emergency. Those who have savings or an emergency fund are somehow surviving. But those who don’t have any savings are completely dependent on credit cards and payday loans to cover their basic expenses.
Be it credit cards or payday loans, nothing comes free. Both of them carry interest rates, and you have to pay them off. You can keep using your credit cards for buying food and groceries. But you have to pay off the debt at some point. Now even if you want to pay off debts, there are 2 challenges:
(ii) You don’t have enough money to repay credit card bills and payday loans due to the financial crisis that has engulfed the entire world.
The question is short and simple.
Well, the answer is just a four letter word, and that is OVLG.
How is OVLG giving you instant debt relief?
OVLG offers instant debt solutions to all people bogged down by debt. The OVLG team is working hard with reduced staff to reduce your debts to a manageable level.
You don’t have to go anywhere to seek debt relief services.
All you have to do is call 800 530 OVLG and get online debt help.
Once you call our helpline number, a Financial Coach will be there to provide you with online debt assistance. After noting down your debt details, he will offer various financial solutions based on your current situation.
For instance, your designated Financial Coach can recommend the budgeting and bill payment option if your financial situation is not that bad.
If you have incurred a huge amount of credit card bills, then your Financial Coach may offer you a debt settlement program or a debt consolidation program based on your requirements.
The debt settlement program will help to slash your outstanding debt whereas a consolidation program will help to lower your interest rate. In both cases, you’ll save money.
The entire debt relief process will be done online. Once you choose a program, a Client Representative Associate will be appointed for you. He will ask you to sign a limited POA document to negotiate with creditors on your behalf.
Don’t worry! You’ll only have to sign the e-documents to allow the CRA to initiate the debt negotiation process. OVLG understands the sensitivity of the situation and will cooperate with you to the best of their ability.
OVLG cares for its employees. Hence they are working with reduced staff from home. You may face a few phone call issues but that is negligible.
Since the CRA will be negotiating with creditors online, they also won’t have any problem in working for an amicable solution. So, both of you will benefit.
Amidst the current financial crisis, creditors want money. And, they will be happy to receive it. Once the deal is finalized, you will have to pay the amount online at your convenience.
You can get detailed information about the OVLG debt relief process from here.
How to curb financial anxiety amidst CoronaVirus pandemic
- Save money and spend less in the next few months
- Pay off your debts quickly to avoid late fees and fines.
- Use online and mobile banking apps for financial transactions.
- Pay more than the minimum when you can.
- Call 800 530 OVLG for free online debt assistance.
What are the credit card companies saying?
Some credit card companies are considerate. Some companies won’t impose late fees if you miss out on payments for one month. Some have even agreed to withdraw fees. You need to call the credit card companies individually and see what they have to say. Don’t expect cooperation from all the companies though.
Citi offers a few assistance programs for its customers. They are waiving off monthly service fees and increasing the credit limit for struggling debtors. Moreover, they are offering collection forbearance to help consumers make payments.
Comenity is also ready to work with customers. But nothing can be said for sure unless someone speaks to them directly. Bank of America has also come forward to help consumers suffering from financial problems due to the Covid-19 outbreak. Consumers can request a withdrawal and refund of late fees. Additionally, they can request deferred payments.
A word of wisdom
No one is canceling or forgiving your loans. You’re just getting more time to pay off debts. On the other hand, OVLG is offering complete discharge of debts at an affordable cost.
Don’t worry! Help is at your disposal
OVLG will be there with you during this crucial time. Help is just one call away. If you’re not good at managing finances, doing paperwork, or negotiating with creditors, OVLG can offer you assistance at an affordable cost. If you have federal student loans, then you can stop making payments for the next 2 months. Don’t worry! Interest won’t accrue.
If you have a mortgage and can’t pay it off, then you may qualify for lower monthly payment plans or suspension of payments for 1 year. Fannie Mae and Freddie Mac are giving these options to a few borrowers owing to the financial hardship caused by Covid-19. Late fees won’t be imposed on them. Thereafter, the loan servicer will work out a payment plan with borrowers. So if you feel you can’t make mortgage payments, then contact your loan servicer quickly.
