NORFOLK, Va. - You need to be checking your credit score now more than ever.
More people are finding mistakes on their reports because of the pandemic.
Complaints to the Consumer Financial Protection Bureau about errors have doubled in the past year.
One reason was unintentionally caused by the CARES act.
The law requires certain companies that provide federally backed mortgages and student loans to offer deferred payments but report them as current.
Some other businesses have voluntarily offered to do the same.
But according to Consumer Reports, some of those deferred payments are mistakenly being reported as late.
If you find an error, it may also take longer to fix because of the pandemic.
"The bureau has relaxed some of the previous rules that it had," explained Consumer Reports money reporter Octavio Blanco. "So previously, the credit bureaus had a 30-day window to respond to complaints about errors on people's credit reports. Now, since the pandemic, there is no actual window for them to respond."
Blanco says they just have to show they're making a good-faith effort to respond to complaints.
You can check your credit report by clicking here.
Due to the pandemic, the bureaus are providing free weekly online reports through April of 2022.
If you find a mistake on your report, go to Consumer Reports' website.
At the bottom of this article you'll find step-by-step instructions on how to fix it.
