The COVID-19 pandemic will leave behind a severe legacy: large credit card debts. People who were quarantined are dependent on plastic; it is used for everything. Medicine, groceries, and other necessary purchases are charged on the card. Credit card companies inadvertently made the problem worse by being lenient with late payments. Those days of leniency are ending. Consumers are starting to face a grim reality.
The financial wellness of many employees is at risk. Minimum payments could swallow most of a paycheck and make other bills harder to pay. Employers can help relieve stress with the right benefits. Countrywide Pre-Paid Legal Services has a program that provides the proper assistance.
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