Keep a Close Eye on Credit With Weekly Reports | St. Johns Bank

This year has seemed to bring just about everything that could ever provoke anxiety. From pandemic to economic struggle, murder hornets to the prospect of months of political ads, we have enough to worry about as it is.

That’s why we think it’s wonderful the three major credit bureaus decided to give everyone one free credit report per week. It’s a move the bureaus made to help people keep a handle on their credit at a time when millions are out of work and millions more are at risk of scams centered on coronavirus stimulus checks that seek to steal both money and identities.

How to Get Your Free Weekly Credit Reports

The process for getting your weekly reports is essentially the same as getting the annual report offered to every American. That means going to the site and filling out a request for a credit report. You’ll need to repeat this process each week to get the reports available to you.

What Can I Do if I’m Having Trouble?

If your financial situation has changed for the worse and you’re worried about your ability to stay current with your financial obligations, there are three things the Federal Trade Commission recommends you do to help protect yourself.

  1. If you aren’t sure you can make your payments, reach out to the organizations you owe money to. They may be willing to negotiate payment leniency or missed payment forgiveness. If this is a step you feel you need to take, you’ll first need to figure out what you can realistically pay on your bills. Consider all your monthly expenses and income in this math.

  2. Keep an eye on your credit reports. If you’ve worked out new payment agreements or temporary forbearance for missed payments, you’ll need to ensure the companies uphold their end of those deals if you uphold yours.

  3. If you notice anything unusual on your reports, notify the credit reporting agency or agencies. You may also need to reach out to the companies that reported delinquency or put an account into collections.

If you need more advice or help dealing with a tough financial situation, contact us at St. Johns Bank today.