Alex Miller shares strategies to repair credit score amidst COVID-19

Published: Jun 08, 2020, 13:59 IST | Partnered Content | Mumbai

To help you out, Alex Miller, the owner of Alex Miller Credit Repair shares some helpful insights on how you can keep your credit score intact without going into a deeper financial hurdle.

Many people are facing financial hardship during the coronavirus pandemic. Millions have been laid off from jobs while several thousand others are forced to take pay cuts or shut down their businesses – making payment of essential items a challenge for many.

During these testing times, many people also wonder the impact of late or reduced payments on their credit score. To help you out, Alex Miller, the owner of Alex Miller Credit Repair shares some helpful insights on how you can keep your credit score intact without going into a deeper financial hurdle.

1. Pay what you can!
Alex has always been an advocate of timely payments. He says that late payments are one of the biggest culprits of negative credit score and should be avoided as much as possible.
His advice during the pandemic is to ‘pay whatever you can.’ If your mortgage for a house or car is backed by the U.S. government, you may be liable for some relief. However, if it is not, he suggests talking to the lender and requesting some other agreement for the payment.

2. Keep an eye on credit report
As an expert, Alex Miller puts a strong emphasis on his clients to keep an eye on credit report. He says that potential mistakes don’t show up on the credit score right away but when they do – they are hard to mitigate and thus, should be cleared out as soon as they are identified.
Alex claims that many people are ignorant regarding their credit score. They assume that being unemployed or facing a salary cut will impact their credit score. However, he explains that this is not the case and the credit score is only affected by payment history, the ratio of credit utilization, the types of credit accounts a person has on their report, and bankruptcy.

3. Remember you are not alone!
The coronavirus has created an overwhelming situation for many – but remember, you are not alone during the financial hardship. Alex Miller says that there is no denying the long-term importance of a positive credit score, especially if you plan to buy a house, get credit cards, and take out a loan. However, during the pandemic, it is important to cover basic necessities first.

About Alex Miller

Alex Miller is the founder of Alex Miller Credit Repair. With over 10 years of experience, his company specializes in repairing negative credit reports into positive ones. He is certified on consumer credit laws including the Fair Credit Reporting Act and the Fair and Accurate Transaction Act and has helped thousands of consumers improve their credit and quality of life.

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