Consumer Debt- COVID-19 Issues

Last updated June 26, 2020

Below are selected websites from reliable sources, vetted by our Law Librarians. This is not an exhaustive list of information available on this topic, but a starting point to provide you with basic information during this pandemic.


In addition to posing a threat to our physical health, CONVID-19 is affecting the financial health of many consumers. Below you’ll find information on FDIC response to COVID-19 for consumers and businesses,  credit reporting, updates regarding student loans, and information on protecting your finances.


The FDIC has updated information for coronavirus (COVID-19) consumers and bankers:


The National Consumer Law Center has made the digital version of their popular publication, Guide to Surviving Debt, available for free during the COVID-19 pandemic.


Credit Reporting

If your finances have been affected by COVID-19, steps you can take to protect your credit score include continuing to make minimum monthly payments. If that is not possible, contact your creditors about making a payment plan. For more information on COVID-19 and your credit score, click the links below for updates from the three major credit reporting agencies.





Article from National Consumer Law Center  (NCLC) on  Enforcing the CARES Act Credit Reporting Protections

Student Loans

On Friday, March 20, 2020, President Donald Trump announced he is temporarily waiving interest on federally held student loans.  At this time, it is unclear how federal loan providers will administer the interest waiver or how it will affect student loan payments. Below you find information about federally held student loans and links to federal government loan providers. Check back often as we will be adding new information as it becomes available.


On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. Among other things, this Act temporarily suspends payments for federal student loans. The link below provides a summary and full text of the Act:


The Federal Trade Commission has published a blog post on the CARES Act and Student Loans:

 Federal Student Loan Providers

Stay up to date with with information on federally held student loans at Federal Student Aid, an official website of the U.S. Government.  Below is a list of federal student loan providers.












Information from the Consumer Financial Protection Bureau



The Consumer Financial Protection Bureau (CFPB) is the federal agency tasked with enforcing federal consumer financial laws and protecting consumers in the financial marketplace.



  • The Consumer Financial Protection Bureau has prepared a resource guide for protecting your finances during the Coronavirus pandemic.



Major Consumer Protections in Response to COVID-19

The National Consumer Law Center (NCLC) has compiled a list of major consumer protections announced in response to COVID-19 (updated June 17):


Also from NCLC: Protecting Against Creditors’ Seizure of Stimulus Checks.


The Federal Trade Commission has information for consumers on coronavirus and mortgages:


Consumer Financial Protection Bureau has prepared a guide to coronavirus mortgage relief options: