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| In Financial Trouble? Track Everything Companies Tell You | In Financial Trouble? Track Everything Companies Tell You |
| (3 days later) | |
| Every financial services company has a coronavirus relief page on its website right now, filled with reassuring language about the assistance on offer. Federal laws and regulations are supposed to make it easier to get help. | Every financial services company has a coronavirus relief page on its website right now, filled with reassuring language about the assistance on offer. Federal laws and regulations are supposed to make it easier to get help. |
| But if you’re wary of the corporations riding to your rescue — or even if you’re not — you need to protect yourself. Memorialize every single thing they tell or promise you. | But if you’re wary of the corporations riding to your rescue — or even if you’re not — you need to protect yourself. Memorialize every single thing they tell or promise you. |
| One unfortunate lesson from recessions past is that companies and consumers often disagree about what help they settled on and under what terms. Can you really, truly skip mortgage payments without triggering foreclosure proceedings? Which student loan repayment plan might disqualify you from other benefits? | One unfortunate lesson from recessions past is that companies and consumers often disagree about what help they settled on and under what terms. Can you really, truly skip mortgage payments without triggering foreclosure proceedings? Which student loan repayment plan might disqualify you from other benefits? |
| Absent written proof or recorded phone calls, struggling consumers are at a disadvantage years later when assistance turns out to be fleeting or illusory. | Absent written proof or recorded phone calls, struggling consumers are at a disadvantage years later when assistance turns out to be fleeting or illusory. |
| This time, the suffering has come fast, and it runs deep. And none of us are at our best. | This time, the suffering has come fast, and it runs deep. And none of us are at our best. |
| Many consumers are scared for their lives, not just their livelihoods. Billers, landlords and customer service reps are scattered to the winds, away from bosses and compliance officials, distracted by their own disrupted home lives. Mistakes will be made, in great volumes. | Many consumers are scared for their lives, not just their livelihoods. Billers, landlords and customer service reps are scattered to the winds, away from bosses and compliance officials, distracted by their own disrupted home lives. Mistakes will be made, in great volumes. |
| So, a taking of receipts is in order. | So, a taking of receipts is in order. |
| “Time and time again, that was the critical factor between people being able to get help or restitution or justice as compared to people left high and dry,” said Seth Frotman, a former student loan ombudsman at the Consumer Financial Protection Bureau, who helped clean up some of the mess after the last big economic downturn. | “Time and time again, that was the critical factor between people being able to get help or restitution or justice as compared to people left high and dry,” said Seth Frotman, a former student loan ombudsman at the Consumer Financial Protection Bureau, who helped clean up some of the mess after the last big economic downturn. |
| Here’s how to go about gathering your proof. | Here’s how to go about gathering your proof. |
| First, rid yourself of any notion that a company will simply cough up whatever documentation you need if things become confusing. | First, rid yourself of any notion that a company will simply cough up whatever documentation you need if things become confusing. |
| Big financial services companies can keep more data more cheaply than ever, but it is not clear that they actually do. Practices may vary widely, depending on regulatory requirements or simple will. | Big financial services companies can keep more data more cheaply than ever, but it is not clear that they actually do. Practices may vary widely, depending on regulatory requirements or simple will. |
| Older information may not be readily accessible. “Data exists in nooks in crannies, and it’s a work in progress on the organizational side,” said Brad Cleveland, a co-founder of the International Customer Management Institute. | Older information may not be readily accessible. “Data exists in nooks in crannies, and it’s a work in progress on the organizational side,” said Brad Cleveland, a co-founder of the International Customer Management Institute. |
| And even if that information can be found, companies have to be willing to give it to you. Sometimes they’re not, according to Persis Yu, staff attorney at the National Consumer Law Center and director of its student loan borrower assistance project. | And even if that information can be found, companies have to be willing to give it to you. Sometimes they’re not, according to Persis Yu, staff attorney at the National Consumer Law Center and director of its student loan borrower assistance project. |
| So you need to have the records. All of them. | So you need to have the records. All of them. |
| There is no consensus among experts about the best way to keep track of your exchanges with companies, but it certainly can’t hurt to just keep a record of everything. | There is no consensus among experts about the best way to keep track of your exchanges with companies, but it certainly can’t hurt to just keep a record of everything. |
| Written exchanges are easier to store and sort than recorded phone calls, and many companies have simplified things by encouraging people to use various forms of text chat. Often, companies use technology, like that offered by the company LivePerson, that allows you to click a button to get a transcript. | Written exchanges are easier to store and sort than recorded phone calls, and many companies have simplified things by encouraging people to use various forms of text chat. Often, companies use technology, like that offered by the company LivePerson, that allows you to click a button to get a transcript. |
| If you prefer the phone, recording the calls can be both technically and legally irksome. | If you prefer the phone, recording the calls can be both technically and legally irksome. |
| There are apps that can record calls, removing some of the hassle. The legal part is trickier: Some states require you to get consent from the other party before recording. | There are apps that can record calls, removing some of the hassle. The legal part is trickier: Some states require you to get consent from the other party before recording. |
| The law firm Matthiesen, Wickert & Lehrer maintains a state-by-state guide. One problem: The location of any given phone rep isn’t clear, so it’s not advisable to just hit a button on your phone, even if you’re in a one-party state. Mark A. Solomon, an insurance trial lawyer at the firm’s office in Austin, Texas, said it was probably wise to get permission to record each time. | The law firm Matthiesen, Wickert & Lehrer maintains a state-by-state guide. One problem: The location of any given phone rep isn’t clear, so it’s not advisable to just hit a button on your phone, even if you’re in a one-party state. Mark A. Solomon, an insurance trial lawyer at the firm’s office in Austin, Texas, said it was probably wise to get permission to record each time. |
| How to do this? Try what the companies do. You’ve probably long since stopped registering that many calls begin with some version of “This call may be recorded” — but that’s your cue to say the same thing back. | How to do this? Try what the companies do. You’ve probably long since stopped registering that many calls begin with some version of “This call may be recorded” — but that’s your cue to say the same thing back. |
| Katherine Peoples, founder and executive director of HPP Cares, a consumer and housing counseling agency in Long Beach, Calif., simply responds in kind to such opening entreaties from mortgage servicers by saying this: “Thank you, and so is mine.” | Katherine Peoples, founder and executive director of HPP Cares, a consumer and housing counseling agency in Long Beach, Calif., simply responds in kind to such opening entreaties from mortgage servicers by saying this: “Thank you, and so is mine.” |
| I tried this tactic in recent days with Citibank, the cable provider Spectrum and the payroll company Paychex, and nobody batted an eye. If someone does blink, Ms. Peoples said, she hangs up and tries again until she gets someone who doesn’t object. | I tried this tactic in recent days with Citibank, the cable provider Spectrum and the payroll company Paychex, and nobody batted an eye. If someone does blink, Ms. Peoples said, she hangs up and tries again until she gets someone who doesn’t object. |
| Does this pass legal muster? I asked Eric J. Troutman, a partner at Squire Patton Boggs in Los Angeles and an expert on laws relating to phone calls. | Does this pass legal muster? I asked Eric J. Troutman, a partner at Squire Patton Boggs in Los Angeles and an expert on laws relating to phone calls. |
| He said there had been virtually no litigation by businesses against consumers around any phone recording at all. “A business might hang up,” he said. “Though that would kind of leave you scratching your head as to why a decent and honorable business wouldn’t want their calls recorded.” | He said there had been virtually no litigation by businesses against consumers around any phone recording at all. “A business might hang up,” he said. “Though that would kind of leave you scratching your head as to why a decent and honorable business wouldn’t want their calls recorded.” |
| A recording can be helpful even when you’re not trying to do something. If you’re just calling for information about a program and decide against taking part, you could end up enrolled anyway. Scrupulous record-keeping can help you clear that up. | A recording can be helpful even when you’re not trying to do something. If you’re just calling for information about a program and decide against taking part, you could end up enrolled anyway. Scrupulous record-keeping can help you clear that up. |
| Before you press record or start typing, prepare. Write a script of sorts. Can you phrase questions in a yes-or-no fashion? How many ways can you repeat something? If you can’t find out what exactly will happen, can you at least find out what won’t? | Before you press record or start typing, prepare. Write a script of sorts. Can you phrase questions in a yes-or-no fashion? How many ways can you repeat something? If you can’t find out what exactly will happen, can you at least find out what won’t? |
| Updated June 5, 2020 | |
| The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. | |
| Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission. | Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission. |
| Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home. | Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home. |
| States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people. | States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people. |
| Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. | Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. |
| Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. | Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. |
| If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) | If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) |
| Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications. | Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications. |
| The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing. | The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing. |
| If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. | If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. |
| If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. | If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. |
| As for what to keep or download or scan or print, err on the side of overabundance. If you’ve sent a document that requires a response, save a copy of both. And keep them together. | As for what to keep or download or scan or print, err on the side of overabundance. If you’ve sent a document that requires a response, save a copy of both. And keep them together. |
| When it comes to student loans, rules are confusing, and servicer record-keeping has often been abysmal, particularly in the public service loan forgiveness program. Keep every statement, record every communication with your servicers, and save checking account evidence of payments and payment counts. You need to make 120 payments to qualify for forgiveness in the public service program — and it can’t hurt to be able to document every one. | When it comes to student loans, rules are confusing, and servicer record-keeping has often been abysmal, particularly in the public service loan forgiveness program. Keep every statement, record every communication with your servicers, and save checking account evidence of payments and payment counts. You need to make 120 payments to qualify for forgiveness in the public service program — and it can’t hurt to be able to document every one. |
| Also, beware of internal messaging systems that some financial services companies use, like the “inboxes” that sometimes appear on their websites after you log in. Those messages can disappear, so scan and save them, or keep a printout someplace safe. | Also, beware of internal messaging systems that some financial services companies use, like the “inboxes” that sometimes appear on their websites after you log in. Those messages can disappear, so scan and save them, or keep a printout someplace safe. |
| Getting receipts is helpful, because policies change. Here’s one example. | Getting receipts is helpful, because policies change. Here’s one example. |
| In March, Capital One told me that it would allow customers to skip the next card or loan payment without incurring interest charges. That didn’t last long, as angry readers have told me since. | In March, Capital One told me that it would allow customers to skip the next card or loan payment without incurring interest charges. That didn’t last long, as angry readers have told me since. |
| The company was unapologetic. “As I’m sure you can appreciate, we are continuously monitoring the situation around Covid-19 and adjusting certain policies as circumstances evolve,” a spokeswoman, Sarah Craighill, said via email. | The company was unapologetic. “As I’m sure you can appreciate, we are continuously monitoring the situation around Covid-19 and adjusting certain policies as circumstances evolve,” a spokeswoman, Sarah Craighill, said via email. |
| No system is perfect, of course. | No system is perfect, of course. |
| Mr. Cleveland told me of a colleague who had been an expert witness in a case in which the two sides could not agree on what the meaning of a recorded conversation was. | Mr. Cleveland told me of a colleague who had been an expert witness in a case in which the two sides could not agree on what the meaning of a recorded conversation was. |
| If the stakes are high — a promise about your six-digit mortgage, or your five-digit student loan — it might be worth going a step further. Listen to the call you recorded, and write to the company to confirm the terms of any changes or allowances. If you can’t find an email address or a way to message someone, send a letter via registered mail and request a receipt showing when or if the company received it. That way, you’ll know the company had the opportunity to dispute your summary. | If the stakes are high — a promise about your six-digit mortgage, or your five-digit student loan — it might be worth going a step further. Listen to the call you recorded, and write to the company to confirm the terms of any changes or allowances. If you can’t find an email address or a way to message someone, send a letter via registered mail and request a receipt showing when or if the company received it. That way, you’ll know the company had the opportunity to dispute your summary. |
| Mr. Frotman, the former consumer bureau official, who is now the executive director of the Student Borrower Protection Center, said formal complaints to governmental bodies were an underused tool. They often trigger a response from the company, in writing and on official letterhead, that aims to put matters to rest. | Mr. Frotman, the former consumer bureau official, who is now the executive director of the Student Borrower Protection Center, said formal complaints to governmental bodies were an underused tool. They often trigger a response from the company, in writing and on official letterhead, that aims to put matters to rest. |
| It shouldn’t have to be this hard for consumers, but it is. | It shouldn’t have to be this hard for consumers, but it is. |
| Why shouldn’t it be up to financial services companies to provide prompt and accurate proof of your agreement? Unfortunately, you can’t count on that, so make sure you have the receipts. | Why shouldn’t it be up to financial services companies to provide prompt and accurate proof of your agreement? Unfortunately, you can’t count on that, so make sure you have the receipts. |
| “Part of my hesitation is putting all of this on borrowers, because the most vulnerable ones may be people who can’t do all of that,” Ms. Yu said. “But I agree that the system, as it is now, does require this level of meticulousness. I don’t know what fallout we’re going to see after all of this ends, if it ever ends.” | “Part of my hesitation is putting all of this on borrowers, because the most vulnerable ones may be people who can’t do all of that,” Ms. Yu said. “But I agree that the system, as it is now, does require this level of meticulousness. I don’t know what fallout we’re going to see after all of this ends, if it ever ends.” |