Credit Repair After Debt Relief And Financial Hardship

Yes—but indirectly. The CARES Act states that your creditor has the option to offer you an “accommodation.” Generally this means that if you forbear or defer a loan, it will not negatively affect your credit score. However, private creditors are not required to provide accommodations, and they will not automatically extend the offer to you. You must ask for them.  

The National Emergency Focus Track is dedicated to helping consumers find relief opportunities at the private and federal level. Our team will help you request specific accommodations, send goodwill requests to your financial institutions, confront violations of existing accommodations and help you make forbearance requests for federally-backed mortgages and student loans.

As we mentioned up above, there are strict credit reporting practices related to medical debt. We can help you work to remove any inaccurate items that may be negatively affecting your credit score, or reach out to your lenders to ask for a goodwill removal. 

Each situation is different, and it’s difficult to estimate how long it can take to repair your credit. However, you will be able to track your credit repair process. You can stay up to date with any inaccurate items on your credit report and progress being made on your individual case through Lexington Law’s online portal.