TRUSSVILLE, ALABAMA – The Trussville Tribune is sharing the first in a how-to series with the goal of helping local residents with credit repair and financial security.
The COVID-19 pandemic has had an enormous impact on the economy. Many individuals lost their jobs and experienced personal and professional financial crises. Some have had to make a choice between paying bills or medical expenses.
While some Americans watched their credit scores rise during the pandemic, many were negatively impacted by deferral periods and forbearance plans. Some creditors waived late fees for a period of time. But some consumers have racked up score-dropping late fees when those programs ended. Others have had to contend with reporting errors, such as creditors reporting missed payments to credit bureaus during deferral periods even though they were not supposed to.
In 2012, the Federal Trade Commission conducted a comprehensive study, which found that 25% of American consumers have at least one credit reporting error or inaccurate information that impairs their credit score. Because of the strategies that creditors have used to ease financial burdens on consumers during the pandemic, however, credit score disputes have increased.
With the cost of housing skyrocketing and job security feeling increasingly unstable, it’s more important than ever to make sure that an inaccurate credit score isn’t hurting consumers’ chances of taking out a loan or paying for necessities. Knowing that you can access credit in an emergency is crucial during a pandemic.
Unfortunately, the credit bureaus don’t make it easy to understand credit reporting and FICO scores. Many Americans are unaware that they might have inaccurate information on their credit report.
The credit repair advice series will teach consumers how to check their credit reports for inaccurate information and credit fraud. It simplifies all of the information that’s out there and clears up some of the myths surrounding credit reporting and scores.
Readers will learn:
• How to read their credit reports and what to look for to eliminate inaccurate information
• The elements that can boost or weaken their credit score
• How to dispute inaccurate information and credit fraud
• How to repair credit properly
• The pros and cons of using credit repair companies vs. DIY credit repair tips
This series is coming at an ideal time for many Trussville and Birmingham residents who have been impacted by the pandemic. We’re all tired. We all want things to feel easy. These credit repair tips get straight to the point and can help consumers improve their financial situation with just a few clicks of a mouse.
Company Name: The Trussville Tribune
Contact Person: Scott Buttram
Email: Send Email
Address:P.O. Box 704
Country: United States