The Federal Trade Commission is notifying consumers who are anxious about their financial health that the three national credit reporting agencies are giving people weekly access to monitor their credit report for free.
Staying on top of credit reports is an important tool to help your members manage their financial data. Notify them that it’s now easier than ever to check credit more often through Equifax, Experian and Transunion. To get free reports, go to AnnualCreditReport.com. The agencies are making reports free for the next year.
For members struggling due to the Coronavirus crisis, here are helpful suggestions:
- Contact the companies you owe money to. Ask if they can postpone your payment, put you on a payment plan, or give you a temporary forbearance.
- Check your credit report regularly to make sure it’s correct — especially any new payment arrangements or temporary forbearance. The recently passed CARES Act generally requires your creditors to report these accounts as current.
- Fix any errors or mistakes that you spot on your credit report. Notify the credit reporting agencies directly. You can find out more by reading Disputing Errors on Credit Reports.