If you are struggling to pay bills during the coronavirus crisis, know that there is help available. Here are three tips to help you work with creditors and lenders alike:
- Check and monitor your credit report—It is important to check your credit report regularly, especially during this time of uncertainty. In fact, the three major credit-reporting agencies, Equifax, Experian and Transunion, are even allowing individuals weekly access to monitor their credit reports free for the next year! To get your free weekly credit report, head to AnnualCreditReport.com to get started.
- Fix any inaccuracies you may notice—If you happen to notice any inaccuracies on your credit report, contact the credit reporting agency directly to have this resolved.
- Be sure to communicate with your creditors—Lastly, communicate with your creditor. If you have found yourself struggling to pay bills during this time, try reaching out to the companies you owe. See if they are able to postpone your payment, work with you to put you on a payment plan or if they can give you a temporary forbearance. If your creditor does grant you a hardship accommodation, see if they will mark your payments as "current" instead of "delinquent." By doing so, your FICO Score won't be affected by any late payments that may be related to the coronavirus crisis.