Time To Order Debtors To Stop Collecting Debts
Looks like the Government can order you fired simply by mandating you stay home because THEY screwed up. So exactly what are they going to do about all of your bills??? You do have to pay them of course, or you wind up on the streets homeless. But what happens when you have no income, or a very much lower income than what you've built your life around? Who do you pay first? Who do you ignore? Doesn't matter What choice you make, it will be the wrong one. Your FICO score will tank if you miss 1 payment for ANY reason, so imagine if this shutdown Nation wide lasts for 2 months! The new standard for lending would be a 500+ credit score! So how do we address the situation?
The easiest way would be for the same Government that shut down our jobs to also shut down the jobs of those Debt Collectors as well. I'm not saying that they shouldn't get paid, I'm saying they should wait to get paid just like the rest of the Unemployed people are--when they go back to work! Non-essential items like car notes, credit card bills, car and health insurance payments, and house notes/rent should be put on hold until the crises is over for those who have been laid off due to Coronvirus. If it isn't a consumable item like food or fuel, that debt should be frozen until this is over. Once the crises is over and people go back to work, then we can unfreeze the debt so it isn't like we won't be paying what we owe; we just need a little time to recover first. Interest free...like the Big Banks got back in 2009.