Update: This offer has been extended through 4/20/22! Be sure to check your reports frequently for errors or potential identity fraud!
Originally posted on 4/21/20:
AnnualCreditReport.com is the only government authorized source for your Equifax, Experian, and TransUnion credit reports.
Normally you can access each of those reports for free once every 12 months, but due to coronavirus, you can access each of those reports for free every week through April 2021!
Many people are receiving help on their credit cards, auto lease, and mortgage due to COVID-19 hardships just by asking for it.
Per the CARES act, lenders offering help and agreeing to a new payment plan must state that payments are current on your credit report. You must be current with your payments before requesting help due to COVID-19 in order to be reported as current.
From the CFPB:
“The recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act places special requirements on companies that report your payment information to credit reporting companies. These requirements apply if you are affected by the coronavirus disease pandemic and if your creditor makes an agreement (called an “accommodation” in the Act) with you to defer a payment, make partial payments, forbear a delinquency, modify a loan, or other relief.
How your creditors report your account to credit reporting companies under the CARES Act depends on whether you are current or already delinquent when this agreement is made.
- If your account is current and you make an agreement to make a partial payment, skip a payment, or other accommodation, then the creditor is to report to credit reporting companies that you are current on your loan or account. This applies only if you are meeting the terms of the agreement.
- If your account is already delinquent and you make an agreement, then your account will maintain that status during the agreement until you bring the account current.
- If your account is already delinquent and you make an agreement, and you bring your account current, the creditor must report that you are current on your loan or account.
This CARES Act requirement applies only to agreements made between January 31, 2020 and the later of either:
- 120 days after March 27, 2020 or
- 120 days after the national emergency concerning COVID–19 ends.
The CARES Act also applies to certain federal student loans and includes requirements relating to suspending payments and credit reporting. During the period that payments on federal student loans are suspended by the Department of Education, any payment that has been suspended is to be reported as if it were a regularly scheduled payment made by the borrower.”
It’s important to check your report to make sure that’s happening. If you see an account that’s not marked current, be sure to call the lender to ask them to fix it. Otherwise you can dispute the mark on your report by contacting Equifax disputes, Experian disputes, and TransUnion disputes.
Have you had success modifying your loans due to coronavirus? Are your accounts marked current?