Are you worried about credit reporting and what might happen to your credit during the COVID-19 lockdown? Businesses have been shuttered for two months or longer, millions of homeowners are applying for mortgage forbearance due to lost income, and many struggle to keep up with their monthly payments. What do you need to know about credit reporting during COVID-19? Credit Reporting Is Still Happening The government’s consumer watchdog site, The … [Read more...]
Do You Have Coronavirus Credit Problems?
Are you worried about your finances? Has the idea of a coronavirus credit score hit been keeping you up at night? Millions of Americans have been affected by COVID-19 and millions more will experience economic hardship in some form in the wake of massive shutdowns of the U.S. economy. While some fail to grasp the need for social distancing, extreme caution, and a need to think of others ahead of oneself, the realities of the coronavirus … [Read more...]
Protect Your Credit To Survive Coronavirus
That title is pretty sensational, but there are indications in the American economy that credit scores are going to be very important in the era of coronavirus and COVID-19. That’s not based on speculation; mortgage lenders across America are reconsidering their FICO score requirements for home loan approval, making scores in the mid to upper 600 range less of a sure thing for loan approval than they were previously. For the record, FICO … [Read more...]
Stay Financially Healthy In 2020
What does it take to be financially healthy in 2020? If you ask a consumer credit expert or someone at the Consumer Financial Protection Bureau, the advice may have a lot to do with the timing of your payments and not just how much you are able to pay and save in the new year. Buying A Car In 2020 If you plan to buy a car in the new year, staying financially healthy means not only shopping for the best new car or used car deal you can find. It … [Read more...]
Credit Report Correction: How Long Does It Take?
How long does it take to correct your credit report? Unfortunately, the answer may depend on what kinds of corrections may be needed. According to the Federal Trade Commission (FTC), the Fair Credit Reporting Act requires credit agencies to respond to you over complaints of erroneous, incomplete, outdated, or inaccurate information. According to the FTC, “To take advantage of all your rights under this law, contact the credit reporting company … [Read more...]