TRENDING  CHOOSING A LOAN AGENCY OR LENDER    

TRENDING  CHOOSING A LOAN AGENCY OR LENDER    


06.08.2020 / Borrowing « Back to all articles

Minimize Damage to Your Credit Score During COVID-19
Credit Score on Mobile Phone

Coronavirus has brought new worries to people around the world. In addition to the obvious concern about wellbeing and health, many people are worried about the financial impact that the virus will have on their lives. This is a reasonable fear to have as countless people have lost their jobs and many businesses cannot operate during the pandemic. If you have lost your job or fear being laid off due to the virus, you may struggle to pay bills, and this can negatively affect your credit score. Though this is a scary prospect, anticipating its potential is the first step to ensuring it does not happen. 

 

Stay in Control of Your Credit Score 

Taking steps to prevent Coronavirus from harming your credit score is not very different from the habits you should usually do to protect your credit. Your credit is determined by a range of factors, so the first step is to get a thorough understanding of your credit by requesting a score report from a major agency. Once you understand which accounts and creditors are determining your score, take the following steps: 

  • Reach out for help: Your creditors cannot help you if they don’t know you need help. They do not want your account to go into collections, so initiating contact is mutually beneficial. Reach out to creditors to explain how you have been impacted by COVID-19 and see what options are available. 

  • Request relief: When you speak with creditors, be clear that you are requesting relief due to the pandemic. They may be able to offer extensions, partial subsidies, or other options that make it easier for you to pay. 

  • Do what you can: It is always best to pay whatever you are able. This minimizes the chances that you will have to pay more at a later time, and it also makes it more likely that your accounts will receive positive reports on your credit each month. 

 

Talking to your creditors is an amazingly helpful tool for minimizing the negative impact coronavirus will have on your finances and credit score. 

 

Manage Your Credit Score With Money Mart During COVID-19  

We are available to help you with all of your financial needs, including those that impact your credit score. We understand the importance of maintaining a good score, and we understand that it’s difficult amid Coronavirus. Let us help restore your confidence in your credit score. Money Mart provides personal finance services such as installment and payday loans, check cashing and money transfers. 

07.02.2020 / Borrowing

5 Good Signs You Can Afford More House
Moving on Up  Buying your first house is a huge milestone, but it’s often not the “forever home”.  Most people move…

Need a
Loan?

Loans from $120 to $15,000. Get funded as soon as today!

06.08.2020 / Borrowing « Back to all articles

Minimize Damage to Your Credit Score During COVID-19
Credit Score on Mobile Phone

Coronavirus has brought new worries to people around the world. In addition to the obvious concern about wellbeing and health, many people are worried about the financial impact that the virus will have on their lives. This is a reasonable fear to have as countless people have lost their jobs and many businesses cannot operate during the pandemic. If you have lost your job or fear being laid off due to the virus, you may struggle to pay bills, and this can negatively affect your credit score. Though this is a scary prospect, anticipating its potential is the first step to ensuring it does not happen. 

 

Stay in Control of Your Credit Score 

Taking steps to prevent Coronavirus from harming your credit score is not very different from the habits you should usually do to protect your credit. Your credit is determined by a range of factors, so the first step is to get a thorough understanding of your credit by requesting a score report from a major agency. Once you understand which accounts and creditors are determining your score, take the following steps: 

  • Reach out for help: Your creditors cannot help you if they don’t know you need help. They do not want your account to go into collections, so initiating contact is mutually beneficial. Reach out to creditors to explain how you have been impacted by COVID-19 and see what options are available. 

  • Request relief: When you speak with creditors, be clear that you are requesting relief due to the pandemic. They may be able to offer extensions, partial subsidies, or other options that make it easier for you to pay. 

  • Do what you can: It is always best to pay whatever you are able. This minimizes the chances that you will have to pay more at a later time, and it also makes it more likely that your accounts will receive positive reports on your credit each month. 

 

Talking to your creditors is an amazingly helpful tool for minimizing the negative impact coronavirus will have on your finances and credit score. 

 

Manage Your Credit Score With Money Mart During COVID-19  

We are available to help you with all of your financial needs, including those that impact your credit score. We understand the importance of maintaining a good score, and we understand that it’s difficult amid Coronavirus. Let us help restore your confidence in your credit score. Money Mart provides personal finance services such as installment and payday loans, check cashing and money transfers. 

Need a
Loan?

Loans from $120 to $15,000. Get funded as soon as today!

07.02.2020 / Borrowing

5 Good Signs You Can Afford More House
Moving on Up  Buying your first house is a huge milestone, but it’s often not the “forever home”.  Most people move…