One Side Effect of the Virus: Free Credit Reports Each Week – The New York Times
- May 18, 2020
GreenPath’s President and CEO Kristen Holt is featured in The New York Times about new options to obtain free credit reports, which are now available weekly during the pandemic crisis.
The economic turmoil caused by the coronavirus has prompted a helpful — if temporary — change in the window that Americans have into their credit files.
People can now get free copies of their credit report from the three big credit bureaus each week.
That’s an improvement over the one-free-report-a-year quota that prevailed before the pandemic.
The article notes that while weekly reports won’t fix the potential credit woes that consumers are facing as millions lose their jobs or get pay cuts, it can be a helpful tool to stay on top of finances.
For help dealing with creditors, one option is to contact a reputable nonprofit credit counseling agency. Many offer free debt counseling, although expanded services carry fees.
Counselors can join consumers on a call to creditors to help them navigate their options, said Kristen Holt, chief executive of GreenPath Financial Wellness, a credit counselor in Michigan that serves consumers nationally. They can also help consumers plan ahead for when bills they have deferred come due.
“It’s hard to think straight right now,” Ms. Holt said.
The article poses key questions about managing credit during this time of crisis, including:
- How to get free weekly credit reports
- What to do if there are mistakes on a credit report
- The implications of having a credit freeze on a credit report
Read the full article via The New York Times for more information.
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