COVID-19 repayment amnesty over: how to avoid a bad credit rating
The COVID-19 loan deferral program and credit reporting amnesty is now over, which means banks will report any late repayments on mortgage or small business loans to credit agencies unless you’ve entered into a hardship arrangement. The banks’ mortgage deferral program and subsequent credit score reporting amnesty officially ended on April 1. The package was created during the peak of COVID-19 to provide loan repayment relief for almost one million home and business loan borrowers facing financial hardship. Luckily, many…...