Protecting Your Credit Rating
A natural disaster can create chaos in all parts of your life. Generally speaking, your credit rating and your financial health are the last on the list to take care of. By taking these few simple but effective steps, you'll save yourself months, if not years, of headaches.
Get a Credit Report
www.annualcreditreport.com/
This site allows you to apply to all 3 credit agencies in one application. Since the FTC requires the agencies to allow all people 1 free one per year, take advantage of it. Have this report as a baseline of where you stood prior to the disaster.
Report Your Situation
If you have any bills, write (calling isn't "official") to all of your creditors - including the utility companies - and report your situation. By doing so, it allows you a bit of leniency, should you be late with a payment because you lost track of time, or because you're short on cash. Reporting it before you are tardy makes life much easier than reporting after.
Many of these companies have a grace period they can put in place for you. If you need it, you use it. If you dont need it, you pay on time as always. But having that buffer will give you significant peace of mind.
Also report your disaster status to the credit agencies. By having this as a note on the reports, it allows a certain amount of padding, should you have late marks during the disaster period. It won't work against you on your credit score - it will work for you.
Equifax
www.equifax.com/
Equifax Information Services, LLC Disclosure Department P.O. Box 740241 Atlanta, GA 30374
Experian
www.experian.com/
Order by phone: 888 397 3742
Trans Union
TransUnion Post Office Box 2000 Chester, PA 19022
www.transunion.com/
Please include your name, address, social security number and the specific nature of your concern.
Get a Credit Report
www.annualcreditreport.com/
This site allows you to apply to all 3 credit agencies in one application. Since the FTC requires the agencies to allow all people 1 free one per year, take advantage of it. Have this report as a baseline of where you stood prior to the disaster.
Report Your Situation
If you have any bills, write (calling isn't "official") to all of your creditors - including the utility companies - and report your situation. By doing so, it allows you a bit of leniency, should you be late with a payment because you lost track of time, or because you're short on cash. Reporting it before you are tardy makes life much easier than reporting after.
Many of these companies have a grace period they can put in place for you. If you need it, you use it. If you dont need it, you pay on time as always. But having that buffer will give you significant peace of mind.
Also report your disaster status to the credit agencies. By having this as a note on the reports, it allows a certain amount of padding, should you have late marks during the disaster period. It won't work against you on your credit score - it will work for you.
Equifax
www.equifax.com/
Equifax Information Services, LLC Disclosure Department P.O. Box 740241 Atlanta, GA 30374
Experian
www.experian.com/
Order by phone: 888 397 3742
Trans Union
TransUnion Post Office Box 2000 Chester, PA 19022
www.transunion.com/
Please include your name, address, social security number and the specific nature of your concern.
posted by Leslie at 7/21/2006 06:55:00 AM
2 Comments:
I would add a detail from my personal experience: avoid applying for your credit report via Internet, as you can be subject to phishing or other types of stealing personal information.
Your credit rating is the most important thing to take care of. It's a pass ticket to having the best credit card. So it should be checked all the time.
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