As a result of the coronavirus outbreak, Assemblymember Felix Ortiz has introduced a legislation to help people struggling financially.
The bill would freeze student loan, mortgage, auto loan, credit card and utility payments in New York state for 90 days.
“The COVID-19 pandemic threatens the health and economic well-being of all New Yorkers, but especially workers who will suffer loss of income during this time of social distancing and extremely limited business activity,” Ortiz said.
In addition, it would prohibit the imposition of late fees and disallow credit reporting agencies from adding negative marks on consumer credit reports.
“The pandemic emergency is disrupting every sector of our economy, from travel, restaurants, and retail stores to theaters, and sporting events,” he added. “Workers whose hours or jobs are cut will struggle to pay for housing, medicine, food, utilities and other basics for their families. They should not have to live in fear of losing their homes or other assets as a result of the COVID-19 emergency.”
He added, “I will be working to enact this freeze immediately. Too many people are losing their jobs every day. We simply cannot wait.”