The financial impact of the pandemic continues to cause suffering throughout the nation. This time there is a different reason.
Consumer Credit Counseling Service (CCCS) is now fearing people may suffer from impacts to credit scores due to credit reporting errors—through no fault of their own. At the beginning of the pandemic, lenders and credit reporting systems were inundated with requests for extensions, forbearances etc. The uniqueness of the situation along with its urgency, high emotions and lack of established guidelines may result in inaccuracies recorded on many credit reports.
The current situation is that thousands in our region may have substantial errors on their credit reports—and the onus is on consumers to make sure that their credit reports are accurate. When credit reports show negative information, even if it is a mistake, the consequences can be very detrimental and long lasting. Having negative entries on your credit report can easily make your life miserable whether it is your fault of not.
At this time, CCCS strongly encourages all WNY residents to check their credit reports at AnnualCreditReport.com www.annualcreditreport.com, the only official website that allows free credit reports. Up until now, consumers could receive one free credit report per year. Now, free credit reports are available on a weekly basis until April 2021.
CCCS further encourages people to set up an appointment with us so we can help you go through your credit report. We can educate you on how to fix inaccuracies and address myriad issues: we can create budgets, tackle debt, work on restoring credit, set up payment plans and put people on the path to financial stability. We will also provide some much needed, ongoing encouragement.
CCCS is still offering free financial checkups—in person, by phone and through workshops. For those interested, call 712-2060. A Certified Financial Counselor will help address your financial concerns and can assist with credit report review or several other areas. CCCS urges all consumers to take some positive action to quell anxiety and alleviate fears.
CCCS is a non-profit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling and credit repayment assistance to consumers since 1965. CCCS of Buffalo helps consumers trim expenses, develop a spending plan and repay debts. Counseling is available at our Main Office in West Seneca, in one of our Satellite Offices, by telephone and via Internet. Visit us online for more information.