Cash, credit, and COVID-19
The COVID-19 pandemic is forced a new normal very quickly. Considering the vast changes in daily life as if you’re concerned about money. And how credit scores may be impacted. The rear view of the mirror the bills for this month are expecting and the expectation and the expectation certainly to cover those bills. That comes along with it a lot of folks are rightfully so pretty nervous about things. Absolutely we know that millions of people are being affected by furloughs and unemployment income reduction. Seeing your own family, friends, and co-workers. Who’s going through that as well. Really important is to think about your finances and how to protect them as we move forward. With the words of wisdom with that in mind. What are the steps that we should be taking now? First and foremost that you get your credit report. It’s free once every 12 months at annualcreditreport.com. You can also get the report at Experian.com and make sure what’s on it. Use that report to contact your lender’s work with them. Because our industry has in place a crisis response plan. That helps them report your accounts. If your’e affected by COVID-19 in deferment or forbearance. Which means no negative information. No late payments will be reported. While those accounts are on the forbearance of deferment. That will help you protect your credit report as we go into this crisis.