It’s unlikely a pandemic is covered BUT do check your insurance policies. I have been told that those that have this listed will receive a pay out.
Check all your insurance policies; health, business, loss of earning. Everything.
‘Forced to close due to government restrictions’ might also be covered in your policy, again, please check.
Any Good News?
A client was in touch with me last night saying they have had some support from their current lending providers. They have been given the ability to pay the interest only for a couple of loans for three months, whilst another has given them a three month payment holiday.
Please reach out to the people you currently owe money to, they will help, do not put your head in the sand hoping it will all blow over!
This client also said the changes they have made on their loans will not affect their current credit rating BUT do check with your individual lending providers.