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Covid Ruined It :(

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Anonymous
Not applicable

Covid Ruined It :(

Before, Covid... I got my credit score up to 712 now I'm down to 480, 510, and ,512 with all credit reporting agencies. I'm so disappointed and bummed out about this. I'm 2 months behind on most of my credit cards and 6 days behind on my car note. I don't know what else to do. I worked so hard to get my credit score up. I just feel like this is going to take me years to get back to where I was :-(

10 REPLIES 10
Red1Blue
Super Contributor

Re: Covid Ruined It :(

I am sorry to hear about it. I am sure brighter days ahead of you. All the best.

Message 2 of 11
Girlzilla88
Valued Contributor

Re: Covid Ruined It :(

It can happen to any of us, it's more of a thing of what do you do from here!?    You can stay down or if you get knocked down you can Get Back Up!     Keep your head up and keep going you aren't done yet Smiley Happy     Good Luck to you







Message 3 of 11
spiritcraft1
Valued Contributor

Re: Covid Ruined It :(

Been there...  not Covid related of course however.

 

Do you have the capability to catch up and make those cards current?  How much are we talking about?  If you can keep them from going to 60 or 90 day lates that would be great but it all comes down to what you can resonably do.  If it comes down to eating or paying, you know the answer.  Been there as well.  I am not a credit expert but I know that protecting yourself and any family, keeping a roof over your head and eating is more important than a credit score.  You have the information that will give you an answer.  If you can catch up before it gets worse creditwise then do so, otherwise plan B may be in order whatever that is.

Good luck.


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Message 4 of 11
Anonymous
Not applicable

Re: Covid Ruined It :(


@Anonymous wrote:

Before, Covid... I got my credit score up to 712 now I'm down to 480, 510, and ,512 with all credit reporting agencies. I'm so disappointed and bummed out about this. I'm 2 months behind on most of my credit cards and 6 days behind on my car note. I don't know what else to do. I worked so hard to get my credit score up. I just feel like this is going to take me years to get back to where I was :-(


I know there is a list of creditors that have been working with customers during Covid times to help preserve their accounts and credit.

 

I believe for the most part you needed to try to work with them before you started missing payments, but it is totally still worth a shot to see if they will work with you anywau since it was Covid-related. If it has only been 30-60d you are late, maybe there is a chance for assistance?

 

Here is the link to read through:

 

My Creditor is Helping Me 

 

Good luck and you can make it through this! I know I have had several rough patches in life and I am finally in a position to better myself, family, and credit. One day at a time!

 

Let us know if there is anything we can answer or help you with!

Message 5 of 11
quikj9
Frequent Contributor

Re: Covid Ruined It :(

I'm rooting for you to make it through this crisis with a clean bill of health, credit intact and your finances in the best position possible. 

 

If there's any chance you might be able to get in contact with your creditors, I'd encourage you to inquire about any sort of hardship programs or assistance they offer. Whether these programs are COVID related or not, they could potentially help you recover from a few dings on your report instead of having to deal with a full blown meltdown and the resulting fallout. 

 

If I could go back to 2016 when I had my meltdown, I'd give myself the same advice. I had more options and support than it seemed like I did. 

 

Bona fortuna!




Message 6 of 11
DebtStinks
Established Contributor

Re: Covid Ruined It :(

Ditto to what others have posted.

 

Additionally, this is my 2 cents.

 

1) Your 4 walls are MOST important. Keep a roof over your head, food in your stomach(s), utilities on, etc.

2) If you can keep your auto loan from going 30 days past due, that would be my 2nd most important task. Keep in mind, this is just an ideal scenario.

3-1) As others have stated, even if still past due, try to keep your cards from going any further delinquent. This could be by making the oldest MISSED MINIMUM payment on each credit card account...this will result in what's referred to as "rolling lates" which are still bad but not near as bad as more delinquent payments like 60, 90, 120, 150, charge off, etc.

3-2) There are hardship (COVID related or otherwise) programs with every credit card company. There's also an option for them to re-age the account. This is a process where they bring your account current by forgiving the missed payments (this does NOT remove the lates) and treating your account like it's current with the next due date based on recently having caught up the account. This process varies with each creditor but most won't offer this option until the account is 90-120 days late. Nevertheless, it's worth asking. Before doing this option, try to ensure your future finances will be able to handle all your obligations. Otherwise, it's just delaying the inevitable.

 

Best of luck! Keep your head up! Tag me/PM me if you have any direct questions for me.

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Message 7 of 11
JR_TX
Valued Contributor

Re: Covid Ruined It :(

Sorry to hear about your predicament. But in my opinion, credit profile is only important if you have the means or somewhat abundance in life but otherwise, that should be the least of your worries! Best wishes to you.

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Message 8 of 11
Anonymous
Not applicable

Re: Covid Ruined It :(

Bring your accounts current and get some GW letters out there ASAP.  If there were ever a time to grant GW, it would be someone impacted by a pandemic which we are all currently living through.  Check out this thread when you get time:

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-o...

Message 9 of 11
tricie17
Frequent Contributor

Re: Covid Ruined It :(

I know sometimes we get caught up and cannot process for better times.  I am hoping that you can pull through this.  Call your car finance company and see if they can extend those payments and then call your credit card companies and request that help that they are extending during this covid period.  This should afford some time to think ahead and may even help you save/stash some cash.  And remember a roof over your head and food to survive is more important if that is what you are facing.

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Message 10 of 11
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