Payment relief?

Follow

Nicole Newby

• April 21, 2020 02:58

Several banks and lenders are offering payment relief options if you cannot pay because of COVID-19. Here is a link to several companies if you're looking for their contact information. Does anyone have others to add to the list?

 

https://www.creditsesame.com/blog/updates/credit-card-partners-and-banks-offering-temporary-relief/

3

• 

  Jana Jacobs

  • April 21, 2020 03:11

  Quick question, what happens if I don't contact my lender before missing a payment? Is that bad for my credit score? Do you think I can contact my lender now, or is it too late? 

   

  0

  Comment actions Permalink
• 

  Roger

  • April 21, 2020 04:36

  Jana Jacobs you still should call your lender and enroll in their COVID relief program.   Once enrolled in the relief program you late/missed payment would not be reported.

   

  According to https://www.consumerfinance.gov/about-us/blog/guide-coronavirus-mortgage-relief-options/#request-assistance

  Once you’re able to secure forbearance or another relief option, ask your servicer to provide written documentation that confirms the details of your agreement and that you’re clear on what the terms are. With some forbearance programs, you may owe all of your missed payments at one time, or additional payments at the end of the mortgage might be required, so make sure you’re familiar with the final terms.

  0

  Comment actions Permalink

Please sign in to leave a comment.