Vanessa Perry, Credit Repair Houston Specialist, explains how to manage bills, and keep calm during the quarantine of COVID-19 in the video below.
Credit Repair Houston Can Be Restored
Credit is an essential of life and can be restored. Owner of Impeccable Credit Services, Vanessa Perry explains financial priorities. In a time of crisis the priority should be on your health, keeping your family fed with a roof over your head. Everything can be restored and repaired.
DO NOT PANIC
With people getting laid off and being without work for an uncertain amount of time it is scary. Credit should not scare or worry anyone. If your score is effected or you have to use paid off credit cards it is okay. Credit is something that is meant to fluctuate.
Credit Repair Houston- Rent
Many people are in the same boat. They are having the same difficulties and concerns as the 1st of the month approaches. With being out of work for about 2 weeks now unsure when they will be getting paid again. Our first suggestion is communication is key. Communicate with your landlord, your mortgage company, your apartment management. If you have a private landlord communicate with them. They will probably understand and work with you without reporting a late payment to your credit. Some people who do not have this advantage will have to go late on their rent and that is alright.
Payments
Companies do not report a mortgage to the credit bureaus until 30 days late. Which means one can be 29 days late, but not 30 before it hits your credit. If it is 30 days past due that is alright it can be repaired within 12 months. Late fees can be waived or paid at a later date and should not be a concern right now.
PRIORITIES
Vanessa explains in the Ask Impeccable episode below that your payment priorities during this time of crisis should be essentials. Essential bills should be groceries, mortgage and utilities. Many credit card companies and auto lenders allow you to defer payments once a year due to crisis situations. With any extra time at hand it would be beneficial to call them for options available before things do hit your credit. If anything does effect the credit during this time Impeccable Credit Services is able to advise during the credit restoration process.
