Released: July 02, 2020
Consumers in COVID payment modification plans find credit files tarnished
Source: Herb Weisbaum, Consumers' Checkbook
To help their customers stay financially afloat during the COVID-19 crisis, many lenders offered payment modification programs that allowed them to make reduced payments or skip payments altogether, without damaging their credit histories. But, in many cases, companies haven’t held up their end of the deal.
Since March, more than 650 consumers have complained to the Consumer Financial Protection Bureau (CFPB) that their lender granted them payment accommodations, but still reported their accounts as delinquent. As a result, their credit scores have tanked.
Read Full Article: Consumers in COVID payment modification plans find credit files tarnished
Consumer Help Desk
- Help Desk
- Submit Your Complaints
- Presente su queja
- Frequently Asked Questions
- Links to Consumer Resources
- Consumer Services Guide (CSG)
- Alerts
- Class Action Database
- Consumer Booknotes
Advocacy
- [email protected]
- California Action Center
- Position & Issues
- Legislative Positions
- Coalition Efforts