Due to COVID19, we have seen a great shift around the world, with businesses closing down to government-mandated curfews - there is a lot we never imagined. One place that saw a great impact apart from your health and safety was your credit score.
While your health and safety takes lead, your credit score should not be second. It takes years to build the perfect credit score, so don't let it slip by so easily. Yes, times are harder than we could have imagined in our worst nightmare. However, there is light at the end of the tunnel, and it's best to keep your belt secured in place.
These are the times when you must be proactive with every aspect of your life including your financial situation. Start by monitoring your credit, and staying on top of your finances and the resources available.
How To Maintain Your Credit Score During COVID19
Paying Bills - We understand it's not going to be easy, but try to at least cover minimum debt payments before they pass their due date. This helps secure your credit score and ensures you meet the minimum requirement.
Lenders Help - Talk to your lender about the hardship you have faced, and try to come up with a payment plan that works for both of you. There is a global pandemic happening, so chances are your lender will understand and ament payment policies on a temporary basis.
Regular Check - The same way you regularly check your health, you must check your credit reports. Making sure every dot is in place helps prevent damages and extensive procedures. Making sure you are on track, and can easily maintain your standing.
Online Disputes - If you see any errors you can easily dispute an issue online. The process remains the same, you attach a letter of dispute along with proof. Keep in mind that you must file a dispute with the credit bureau that showed the incorrect information. It might take longer than expected, due to endless online queries and disputes.
Flexible Payments - Get in touch with your utility, cell phone, cable, and other monthly providers and try to set up a flexible payment plan. There are companies that offer a pandemic payment plan that helps you ease off the payment, while still enjoying the coverage. Allowing you to keep you and your family on track and entertained even when trapped inside.
Identity Protection - Protect your identity at all times, and never offer details to anyone over the phone. During these hard times you don't need extra stress on your plate, so flat out refuse to offer any personal information over the phone. Furthermore, it's best to get in touch with your bank yourself regarding any issue directed by the individual, making sure you are in good hands - and your information is safe and secure.
Budget Plan - Planning ahead of time can help you sort your money in a smart manner. This way you won't overspend today and worry tomorrow, you can maintain a healthy flow that lasts you a while. Allowing you to keep some money on hand, rather than sitting and wondering how to pay for your next meal. Only with a smart budget plan can you ensure your basics are covered through the pandemic and its impact.
Financial Assistance - When you find yourself trapped in between payments it's best to look for financial assistance. There are certified companies such as Holliday Credit Repair that can help you maintain your credit score during the pandemic. Offering you great opportunities to keep yourself afloat even when times get tough.