With the $600 jobless benefit expired and stimulus talks dragging, here's what to do if you can't pay your credit card bills.
. Qualifying for a relief program might not be as hard now as it was in the past. But to get the best results, Harrison recommends having a letter from your employer on hand, or a copy of the notice that your extra unemployment benefits are ending."As long as you have the documentation and fit the parameters of your card issuer's program, you are going to be approved," says Harrison.
But remember: Not every credit card relief program is the same. "One card company might say they are going to freeze interest, while another might lower your minimum payment. Credit card companies are not required to give you the same kind of relief,"After you've been approved for a credit card relief program through your issuer, or a continuation of an existing forbearance or deferment program, Harrison encourages people to stay vigilant.
"Ask the credit card company to send a letter verifying that it is going to offer you relief," he advises. "Another department may report a payment as late if wires get crossed." You want to avoid getting dinged for a missed payment because of a miscommunication or administrative error. Ask the customer service representative to put a note in your file and email you written confirmation with the details of your relief program.
Then, monitor your credit report to make sure you are not penalized. "Turn on notifications for changes in your credit file," Harrison says. You can use a free service, such as
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Unemployment recipients share why they returned to work during the pandemic despite $600 weekly boostPeople who previously got the $600 weekly unemployment boost explain why they returned to work before the enhancement, provided under the CARES Act, expired in July.
Read more »
Poll: Americans Favor Renewing $600 Unemployment BenefitsBlame over the expiration of the expanded benefits is broadly divided along partisan lines, a new HuffPost/YouGov survey finds.
Read more »
McConnell: ‘I’m Prepared To Support’ A Coronavirus Stimulus Bill That Includes $600 Unemployment ChecksWhile it's a sign of compromise, progress is still slow as a scheduled August recess for the Senate at the end of the week looms over the negotiations.
Read more »
McConnell: ‘I’m Prepared To Support’ A Coronavirus Stimulus Bill That Includes $600 Unemployment ChecksWhile it's a sign of compromise, progress is still slow as a scheduled August recess for the Senate at the end of the week looms over the negotiations.
Read more »
Even though $600 unemployment boost lapsed, Congress likely will make new aid retroactiveWhenever Capitol Hill decides on the next round of federal unemployment benefits, those payments likely will be retroactive to when the $600 lapsed, experts say.
Read more »