As the government shutdown continues into its fourth week, thousands of federal workers are facing the usual pile of monthly bills without their regular paychecks.
Some workers' most recent paychecks were already missing a few days of pay, but depending on where they work, they will be missing their first full direct deposit on Friday.
Many financial institutions are offering interest-free loans, fee waivers, payment deferrals and other forms of temporary relief to help workers stay afloat as the political gridlock drags on.
Some financial institutions already know who you are and may proactively offer support behind the scenes. JPMorgan Chase, for example, reimburses federal government direct deposit customers for service and overdraft fees.
However, if you're on track to miss a payment or need further help, you'll need to take the first step (and sometimes provide proof of where you work). Unless you're a federal employee, don't call to make a deal anyway. Customer service representatives will likely face high call volumes as the shutdown continues. So let people with real needs be the first line.
Here you can see what kind of help is available and from whom.
Mortgages and home equity lines of credit
Many financial institutions offer a payment break called “forbearance,” although interest will still accrue. Bank of America, Citigroup, JPMorgan and US Bank, for example, said they would initially provide a forbearance of up to three months.
Pennymac, which collects payments from borrowers on a large number of mortgage loans, also offers forbearance. It requires a conversation with customers so they know how the process works and what options are available to them once the shutdown ends, such as repayment plans or loan modifications.
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