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Managing your credit through financial hardship

Our world has been impacted with the current pandemic, causing uncertainty in many different parts of our lives. One area that may be affected is your credit health, but there are ways to make sure that you protect and stay in control of your credit during this time.

Reach out to your lenders – See if your lenders are offering any assistance at this time. There may be options to refinance at lower rates which can mean lower payments or other payment arrangements. Also, try to pay what you can to avoid late payments on your credit report.

Check your credit report – Make sure your report is accurate, especially if you will be contacting your lenders to discuss your financial situation and accounts.

Add a comment – You can add a consumer statement to your credit report that describes your financial situation. An example of this might be, “I am unable to make payments due to the coronavirus.” Anyone who views your credit report will be able to see this statement.

Be sure if you have questions or concerns, that you contact us. It is important to discuss options and be open about your financial situation. We are here to help you navigate your finances and come up with solutions that work for you.

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