If you are worried about the impact that the crisis of the coronavirus would have on your credit report, do not lose hope that the agencies that issue them will have to think twice.

By Miami Diario Newsroom

A total of 22 United States attorneys general assured this Tuesday that they will ensure good practices in citizens' credit reports, prepared by the country's three main credit agencies, and that they are an essential element when applying for a mortgage. , a loan or rent or buy a house.

Prosecutors have warned in a letter to the nation's three consumer credit reporting agencies that they will not hesitate to "enforce safeguards in place to ensure that consumers' credit is properly protected and that their credit reports are fairly and accurately prepared while Americans They continue to fight against the consequences of the economic and health crisis caused by COVID-19, “they say in a statement.

credit report or “credit check” (in English) is a score that consumers in the United States receive and that measures how good or bad a person pays.

Banks, real estate agencies and other businesses inform credit agencies if a client regularly pays their debts and bills or if there are defaults, which impacts their score and, consequently, their ability to obtain credit with better advantages.

According to the statement, the recent laws approved by the United States Congress to alleviate the consequences of the crisis that occurred after the pandemic, such as the Aid, Relief and Economic Security Act, guarantee the protection of consumer credit. A protection that, according to prosecutors, the Trump administration is not guaranteeing.

“In this time of economic crisis, these consumer protections are more important than ever, which is why our coalition is committed to protecting consumers and enforcing all federal and state requirements. If the federal government refuses to do its job during this crisis, our coalition will not hesitate to take charge," said New York Attorney General Letitia James, who heads the group of prosecutors.

In a letter sent to the three major credit bureaus - Experian, Equifax and TransUnion - James stressed that the new legislation is "critically important to individual consumers and to the overall recovery of the economy, as it ensures that consumers get relief essential without jeopardizing your future ability to secure a job, rent or buy a house, obtain a credit card or buy a car", an ability that may depend largely on the credit score compiled by these entities.

The signatories of the letter are the Attorneys General of: New York, Pennsylvania, California, Colorado, Delaware, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, North Carolina, Rhode Island, Virginia, Washington, Wisconsin, and Washington D.C.

Source: 51 Telemundo

You may also like:

Earrings! NASA to Announce Which Companies Will Land Humans on the Moon

Health experts join Ron DeSantis on the eve of reopening

Miami-Dade is ready to reopen, but not all of its cities



Pin It on Pinterest

Share This
× How can I help you?

We find the business for you

Please fill out this form