You might be thinking, “Credit? You want me to think about Credit in a time like this? There’s a global pandemic happening credit is the least of my worries!!”
Okay! I get it, things are a scary right now. Let’s think of this is triage credit building. If you have a good score, hopefully the pandemic doesn’t lower it. If you are working on your credit score, let’s try to keep up the momentum. Here are a few things to consider:
Ask for help early and often
Please, if you are worried about your bills, any bill. Give the bill collector a call and see what they can do for you. Can they lower the payment? Can they give you a grace period? Do you really need the services? Can you cancel? Call and talk to them before the bill is due or as soon as possible. Tell them what you can realistically pay given the circumstances and keep the flow of communication open. It’s okay to ask for the manager for additional assistance.
What if I don’t have enough money to pay for all of my bills?
Did you know that if bills are paid less than 30 days late it does not hit your credit? It’s true. If you can’t pay on time try paying before the 30th day late.
Remember the priorities
Everyone wants to have a great credit score, but if you don’t have the money, stick to the most important things. Food/Shelter/Communication to keep working or to obtain a new job like Cell or Internet
Making a credit card payment is great, but do not do it at the expense of putting food on the table. Call the credit card company and explain the situation.
Give yourself some grace
We can always work with you to fix your credit blemishes when you are in a more stable place. We are all human and doing the best we can. It’s okay to not be perfect. We will get through this and hopefully be stronger for it.
Amber Robinson, Financial Education Coach