Consolidated Credit Opens a "Shutdown Hotline"

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If the COVID-19 quarantine has deepened your debt, financial experts are here to help.

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Apr 08, 2020, 12:32 ET

FORT LAUDERDALE, Fla., April 8, 2020 /PRNewswire/ -- 10 million people applied for unemployment benefits in the last two weeks of March after being let-go by business shutdowns due the coronavirus pandemic. The numbers are expecting to keep surging, with some economists predicting the loss of 20 million jobs. Americans are now worried about their financial health as much as their physical health. In response, Consolidated Credit is offering free financial COVID-19 counseling to anyone who needs it.

Consolidated Credit has helped more than 10 million people overcome debt and financial challenges. Their mission is to assist families throughout the United States to end financial crises and solve money management issues through education and counseling.

As one of the nation's largest nonprofit credit counseling agencies, Consolidated Credit has drawn upon its staff and expertise to launch the "Shutdown Hotline." Its team of certified credit counselors will not only offer a free debt analysis, they will point callers to local COVID-19 resources for everything from mortgage deferral to bank fee waivers.

"Because of the coronavirus shutdowns, many financial services are struggling to advise Americans – at precisely the time when they need it most," says Consolidated Credit President Gary Herman. "Consolidated Credit has sadly had experience working in crisis situations, because our main office is in South Florida. We've literally weathered many storms, so we've adapted our hurricane plan into a COVID-19 plan – and we're ready to help."

That help includes everything from credit and debt management questions to housing counseling questions. Counseling can be done over the phone and internet, so consumers stay safe. Debt management program initial fees will be waived for as long as the shutdowns continue, Herman says.

"While this is an unprecedented and tragic situation, we've offered similar programs after hurricanes, earthquakes, floods, and wildfires," Herman continues. "So we know what we're doing. And what we're doing is helping Americans get their minds off of worrying about debt so they can focus on their families."

Consumers can call 800-745-2513 for help and professional advice about their credit and debt issues Monday through Saturday from 8 am to 10 pm eastern standard time.

About: Consolidated Credit has helped more than 10 million people overcome debt and financial challenges. Their mission is to assist families throughout the United States to end financial crises and solve money management issues through education and counseling.

SOURCE Consolidated Credit