Hello, everyone. Thank you so much for joining us on “This needs to be said”, our friend, attorney Charles will put com and I’m only going to call him once, maybe twice, but he’ll be attorney Charles from this point on, you met him in previous conversations, just getting to know what he does with his practice, but now we’re going to dig a little deeper because now your family, you know, we’re not introducing him anymore as a guest. He’s part of the family and he’s here to help you make better choices for yourself with what options are available for you, which today he has a great topic for you is covering the fact that the pandemic is coming to an end. Actually, a lot of things are coming to an end. So Charles, jump in, tell the, “This needs to be said”, audience, what all is coming to an end.

Absolutely! Thank you very much for the warm introduction again. What I really wanted to talk about today is the fact that, in the state of Pennsylvania and also federally, the, emergency orders in place as a result of the COVID-19 pandemic are coming to an end in most states. And also federally, we believe that end will be this month. Meaning the mass mandates are lifted. People have to go back to work. They’re making some changes to the unemployment compensation structure and ending at some of the stimulus. You know, there was a lot of talk earlier about whether folks could expect an additional stimulus package and it’s really starting to look like there’s not going to be any more money handed out.

Cause that’s also the unemployment. You said unemployment, the pandemic pay. Does the PPP loan fall in there as a question well, yeah, so, with the PTP loans, there have been two rounds of those already. I don’t think that there will be any more. And there was also some other emergency monies for businesses called idol loans. Eids there were rounds of Eido loans as well. And they’ve extended the repayment of those until the spring of 2022, but the funds are gone. So there’s not really any more money coming out. The only break that you’re getting on those PPP loans and Eido loans is they have extended when you must be good repayment, but you got to keep in mind for all the small business owners out there that borrowed that money interest is accruing. So while your payments were originally due May 23rd, give or take, and, you know, while you’re where it was originally starting to be repayment in May of 2021, the federal government’s bumped out another year, but the 3.75% interest will continue to accrue.

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So, so with all of those things, coming to a head, Katherine, what I really wanted to get out there today, as far as information is to make sure that people know now is the time to start focusing on your personal recovery efforts from the COVID-19 pandemic. Because if you wait another six months or another nine months to begin developing a plan to get your house back in order, so to speak financially, if you wait six to nine months from now to begin developing a plan, you’re going to be behind the curve and you’re going to be scrambling. Now is the time to evaluate what you’ve got.

Okay. So, you know, w when, when we’ve got folks that are still on unemployment, the changes that are going on in Pennsylvania as we speak, in, in June of 2021 are the Pennsylvania state is going to start requiring folks to look for work again. So as part of the pandemic, unemployment stimulus, you weren’t required to look for work as long as you know, if you didn’t feel comfortable looking, you could collect that employment and you didn’t have to look because you didn’t want to go back to what you were afraid, afraid of getting sick, that part’s coming to an end. Additionally, there is the federal, the federal PUC unemployment money, $300 per week, which comes out to a total of about $1,200 a month. Cause there’s a little more than a four weeks in a month. It comes in about $1,300 a month. That’s going to expire in February. So if you are one of those folks, that’s currently on unemployment and you, you know, you have, my guess would be, you have until August or the beginning of September, before those will expire. And at that point, if you don’t have a job, you will have no income. So that’s why I’m suggesting you can’t wait for another three or six months to figure out what you’re going to do. Next,

It’s important to know that these things are coming to an end. Some people, we all were affected by the pandemic, but we were all affected in different ways. So someone may say, well that the idol loan doesn’t apply to me. I’m not a small business owner or, and that’s fine. You didn’t take out a PPP loan and you didn’t get the idle loan. However, there was unemployment for people who had jobs before, so that’s coming to an end. So we’re all having to, like he said, look at where we are right now, where, where we stay on, what happens for me when this is over, what happens for me when I have to start repaying that money and understanding when he’s saying the interest is still accruing, it means, of course, whatever you borrowed, you’re going to be paying back more than what you borrowed.

And, while you have this break, you may not see that payment in your, your scheme things, but six months from now, it’s going to be there. Nine months from now, it’s going to be there and waiting that long before you make your plan. That’s that really does put you behind the eight ball. I see all of this and we all have been affected by it. And it’s time to readjust. And, you know, look at help is what it was for those who received any loans or any resources during a pandemic, it was to help you. It wasn’t a long-term plan. So you’re going to have to go back to work or have some, some way to take care of yourself. You’ve got to think about it. That’s right, Katherine. And there are very few people who were not affected at all, or who received the positive effects from COVID.

You know, obviously, companies that were able to get into the business of making masks probably made more money last year than they may have the year before. But there are very few of them, the stories across our country. So we need to be mindful that as the government and the country is ready to get back to normal, we need to be ready to get back to normal to. And one of the other things that’s occurred that people haven’t realized yet, let’s talk about this people haven’t. There are a lot of folks who have deferred mortgage payments who have taken the opportunity that the banks have provided to say, hey, for the next year, the banks have said, hey, if you ask for the next year, you don’t have to make a mortgage payment. And then what happens is, you know, after the, after the pandemic’s over, we’ll just go back and we’ll work something out to make mortgage payments.

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So there are a lot of folks out there right now who actually didn’t lose much money during the pandemic. When you factor in the stimulus, you know, maybe their hours got cut, but they got some stimulus money, but some of them there’s a lot of people who have not been paying their mortgage. And, and I don’t say that in a negative light because a lot of mortgage companies have allowed that. But the problem is the day of reckoning for that is coming as well. So, the federal, the federal moratorium on mortgage foreclosure expires June 30th. I doubt it will be extended. This is the first time I’m going on record as saying, I don’t think it will be extended because for the last couple of months, it looked like it may have been, but as we approach that June 30th deadline, the way the government’s moving and opening everything up, it doesn’t look like it’s going to be extended. So that means all of those homeowners are going to have to deal with those missed payments. And, you know, those are binding contracts and loan agreements, and they affect the home that you live in. So this is very serious stuff. Yeah.

So what are some things, because I was like, Ooh, that is, that’s a lot. That is a lot to think about, but the good news is we’re like, this really is not a, it’s only, you kind of think we all have had some, some effect of this. Some readjustment, some adapting, and here we go again, adapting. So think about the, that we probably just have, you know, taken for granted these past 12 months or more, you know So what do you want this new step to look like for you Because it is new. It’s different. Some people actually, some good did come out of it for some people you may get to work from home. So the expenses you had before, when you look at your bills, it may make room for you to be able to repay your loan or have the money for your mortgage.

It sounds silly. I know, but going through your finances right now with a fine tooth comb and figuring out why I don’t have to worry about this for six to nine months, what can I do now so I’m ready. Six to nine months. I’m not a financial advisor. I’m just giving common sense. And our French Hall’s attorney, Charles is the attorney, and he’s giving you his wisdom. So I’m taking his wisdom and some common sense and saying, hey, we got to look at where you are now. You’ve got to look at where you are right now. Absolutely! And one of the things I’ve been telling, a lot of folks that I’ve met with in the last 18 months is that we are going to see that the pandemic and everything that happened will wash away a lot of prior financial sins. And what I mean by that, Katherine is everybody experienced, not everybody, but the majority of people experienced hardship during this time.

So if you were ever looking for the time to restructure your finances or to deal with debt that you have now is the time when you won’t be judged. If you thought in the past, oh, you know, I made these mistakes. If I try and sort it out, I’ll be judged. This is going to be too difficult. COVID is washing away financial sins, because it’s very easy for the world to understand right now that your financial house is not in order. So not the embarrassing topic or the level of embarrassment that it was five years ago, because we’ve all experienced hardship at this point, folks that had never dreamed of experiencing financial hardship, because they’ve always worked hard and had a steady job. There are folks like that who have had their jobs snatched right out from under them. And now they’re experiencing something. They never thought they would.

Yeah. Yeah. I’m glad you said that the emotional piece is always there. Even if people don’t want to admit it, we feel something that I got. I’m not supposed to, this shouldn’t be happening to me. This is not one of those times. This time is not one of those times you are forgiven of feeling guilty and embarrassed. Like this is one of those times, we’re all working it out. So work on your plan. This is a great time because I’m not looking at you because I’m working on my mess. You know, I have to realign what’s going on. Yeah. Everybody’s nose is down and looking to, to reorganize, listen, I’m just like, I’m taking notes. And I’m like, yes, this sounds good. And I’m going to keep repeating what he said and putting it into action. So I am in class as you’re teaching and sharing this information with it.

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“This needs to be said” audience. I don’t take it for granted that you’re on my platform, sharing your information about your practice with us and the work that you do. So thank you for that. Thank you for being here. And I’m going to have to wrap up our time because it’s time for us to end this, this particular conversation, but you’ll be back. I absolutely will. Katherine. And I appreciate all these opportunities. You give me to help our audience and to get these messages out there, let everybody know how to get in touch with you. Outside of “This needs to be said”. Absolutely! The best ways to get in touch with me are to give our office a call at (610) 477-0155. Or you can reach out to us through our website and find out more information at www dot Laputka law.com. That’s L A P U T K A L a w.com. And I’ve got a lot of great information on my YouTube channel as well. You can just go to YouTube and search the Laputka law.com and there’s a lot of great informational videos on there to get you started with some of the information you might be looking for in these times. YouTube is great. Like yes, everywhere you are. Let us know for sure I’m going to be subscribing. I didn’t realize that while I was nosing around. Thank you again. And we’ll talk with you next time. Thank you, Katherine. Bye bye.