This is posted on Thrive Global
As you might imagine, my phone has been ringing off the hook with clients, friends, and students asking me all about what will happen to their credit if they are missing payments due to the partial government shutdown. So I thought I’d address what’s happening and give you a step-by-step plan to protect your credit if you are in this situation. If you’re being affected by the shutdown, you’ve got some work to do to protect your financial security and your credit score. Here’s my step-by-step plan.
First of all, don’t panic if you just missed your first set of payments. Remember that a late payment does not report on your credit until the 30th day from your due date. So, you have 30 days before you get reported late from the due date, which may help ease your mind a bit.
But there’s still work to be done:
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