By Melissa Lambarena

After Megan Pearson’s job as a restaurant server was put on hold because of COVID-19 -related stay-athome orders, the single mom had to figure out how to come up with the rent for her apartment in Brooklyn, New York.

“I posted my frustration on Facebook with trying to get through to unemployment the first week,” Pearson says. “I probably made 200 phone calls before I got it all settled.”

Uncertain whether assistance would arrive on time or at all, Pearson created a crowdfunding account at the encouragement of a friend. This bought her time and ultimately allowed her to stay in her apartment without taking on expensive debt.

If you’re scrambling to make rent, consider the following steps before resorting to high-interest loans.

Explore free options

Some states have banned evictions during the COVID-19 crisis, but you’re still responsible for paying rent. The first step is to reevaluate your budget and “find” money where you can.

Cut back on nonessential expenses, lower 401(k) contributions, reach out to creditors for assistance and seek lowincome programs for food and utilities, suggests Jeffrey Arevalo, a financial wellness expert with nonprofit credit counseling agency GreenPath.

Other options that cost nothing or close to it:

Applying for unemployment or other assistance programs. Pearson expects she’ll cover future rent payments with unemployment and coronavirus stimulus money.

Talk to your landlord. Ask for time until a check arrives. You could also request an installment plan or waived late fees. Your landlord might be willing to help, especially if you have a history of paying on time. Whatever terms are negotiated, get them in writing.

Call 211. Local nonprofits and religious organizations may offer rental assistance. United Way helps access those services upon calling 211. Resources may be limited during national emergencies, however.

Apply for grants in your industry. Pearson applied for a grant from the Restaurant Strong Fund, which helps restaurant workers affected by COVID-19 closures, though she has not yet heard back.

Ask for help from family or friends. Pearson raised $3,995 toward rent and essential expenses via the GoFundMe crowdfunding platform. “If you don’t ask, no one knows you need it,” Pearson says.

If your lease permits, consider subletting your apartment or a room. Or move in with a loved one and help each other by divvying up rent costs. Again, talk to your landlord to see what’s negotiable.

Seek professional advice. Currently, GreenPath Financial Wellness is offering free phone-based financial counseling during the pandemic.

Lean on investments

Typically, it isn’t advisable to dip into money that’s meant for your future, but these aren’t typical times.

If you have a taxable brokerage account, consider selling stocks. Another option might be a withdrawal from a 401(k) or individual retirement account, says Andrew Rosen, financial advisor and partner at Diversified, a financial planning firm.

Under the Coronavirus Aid, Relief and Economic Security Act those under age 59½ years impacted physically or financially by COVID-19 can withdraw up to $100,000 from an eligible 401(k) or IRA through Dec. 31, 2020, without the usual 10% early withdrawal penalty. (AP)