💲 6 WAYS TO PROTECT YOUR CREDIT DURING COVID-19 💲
As the coronavirus outbreak continues to evolve, your credit might be the last thing on your mind. During times of emergencies though, such as global pandemics or natural disasters, you should know the state of your finances and keep your credit on your radar. Follow these steps to help keep your credit on solid footing.
Pay your bills on time, if you can. Even if it gets difficult, try to make at least the minimum payment by their due date. Late payments negatively affect your credit score.
Contact your creditors and service providers. If you get to a point where you can’t pay all your bills, contact your creditors and any service providers such as utilities, phone company, etc.
Check your credit regularly. Now is a critical time to make sure your credit reports are accurate. If you identify potential fraud, you can respond before it damages your credit.
Be extra protective of your identity. Unfortunately, during times of crisis, scams and identity theft are at an all-time high. Protecting your personal information is essential. You can place a free security freeze on your credit files which prevents people from accessing your personal information and using your name to apply for credit.
Get financial assistance, if needed. Certified credit counselors can offer advice on how to repay your debts in a manageable way.
Dispute inaccurate information. If you find inaccurate information when reviewing your credit report, you can file a dispute with each credit bureau. Each bureau has an online dispute center, which is the quickest way to file a dispute.