COVID-19 Protections Allow Consumers to Avoid Credit Damage

Bank Cards

As discussed in other blogs posted on the Treinen Law Office website, the federal government, New Mexico state government and some creditors have offered consumers protections in response to the COVID-19 pandemic.  These protections include relief plans such as forbearance or loan modifications, as well as eviction and foreclosure moratoriums.  These protections often also include bars on negative credit reporting.  As shown in a recent report from the National Consumer Law Center, these protections are having the desired effect.  As a whole, consumer credit ratings are not seeing a downturn in the pandemic, at least so far.

The report is available here.

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