Unemployment and Credit: What You Need To Know Once You’ve Lost Your Job

The COVID-19 pandemic and resulting economic crisis have left millions of Americans unemployed. Losing your job can bring on a range of emotions, but it’s important to manage the financial impact that job loss can have on your credit score. It’s essential to understand how unemployment affects your credit and what steps you can take to ensure you remain in good standing with creditors.

Unemployment often brings about an inability to pay bills on time or at all, which will be reflected in your credit history. A decrease in income may also mean that you must use existing credit lines more than usual, further lowering your score if payments are not made regularly. To prevent this from happening, make sure to speak with creditors as soon as possible regarding payment plans or hardship programs that could help you get through difficult times.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our main goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706