Tag: hardship

Business Partners Find New Opportunity After Financial Hardship

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Sunday, September 20th 2020, 10:56 pm

By: Hunter McKee

OKLAHOMA CITY –

Two business owners impacted by the COVID-19 pandemic are exploring a new adventure this fall. This week marks the grand opening of Hillbilly Haven, an outdoor family fun farm located at the intersection of Coltrane and Wilshire.

Nick Henthorn and Scott Hill co-own Phoenix Oil and Gas in Edmond, but they say business has been tough due to COVID-19.

“We’ve been trying to drum up business,” Henthorn said. “Trying to earn a check.”

With time on their hands, they put their heads together and created a place for family and friends.

“We’ve been out here every single day,” Henthorn said. “Morning to night, doing our very best trying to make it as nice and clean as possible.”

From pumpkin sales to pony rides, Hill said Hillbilly Haven has something for the whole family to enjoy.

They had been

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About 7% of auto and personal loans are in financial hardship programs

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Correction: An earlier version of this story misstated the total amount of credit products currently in hardship programs. 

Just over 7% of auto and personal loans are in some type of financial hardship program as of June, while 6.79% of mortgages and 3.57% of credit card accounts are in some kind of payment relief. 

That’s according to TransUnion, which defines financial hardship plans as a deferred payment, forbearance program, frozen account or frozen past due payment. But despite the high numbers, the number of accounts going into these types of payment relief programs is starting to level off, says Matt Komos, vice president of research and consulting at TransUnion.

“This pandemic is really like nothing we’ve ever seen,” Komos says, especially in regard to the rate at which the economy changed and unemployment exploded. Because of the widespread uncertainty, some consumers may have signed up for hardship programs quickly, almost

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