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  • 21 hours ago
Essence Editor Marquita Harris and Michelle Singletary talk about whether or not people should be worried about their credit scores during the pandemic if they've lost their jobs and have to prioritize certain bills.
Transcript
00:00Should we be worried about our credit scores now? Is that something that we just have to kind of forget for the time being?
00:07Well, I think you should you know
00:09Recognize that there's some things you're gonna do that might hurt your credit score
00:13Like say you want an aggressive debt payment plan and now you've got to stop that because you need that money for rent more food
00:21And so right now you cannot worry about your credit score. I mean we're going to go out and buy a car house
00:26No, so, you know
00:28Down the road you can rebuild that credit score
00:32But right now if you have to pause and say you contact your lender most of them
00:37I mean that I know of giving people a break
00:40But let's just say you run into someone who doesn't well and they may date credit score or your credit report
00:48So be it for right now. I mean just I'm just being real that you cannot worry about what is the credit score?
00:55Anyway, it's your it's your
00:58Credits, it's like the SAT credit
01:01And if you're not going to college, you don't necessarily have to worry about your SAT
01:04I don't even know
01:05You know
01:06How long is the business we had in SAT scores?
01:07So you have to look at it like that
01:10It's important at the time when you need to borrow but right now you're not going to be doing that
01:14So, you know, don't worry about that right now and i'm not saying don't be concerned about it
01:19But that can be fixed down the road and it really isn't that hard to rebuild your credit score
01:24Because the majority of your credit score is paying bills on time
01:29So once you get past this crisis and get back to paying your bills on time your credit score will go up
01:44And it's just kind of going to take that credit score from you
01:46So now I have to ask you guys can do that
01:48You know, make sure that you are going to go up
01:48And it's going to be a thing but you can do that
01:49I need to look at it
01:51If you have to look at it
01:52So let's look at them
01:52It's going to be a thing
01:53So let's see
01:54You know, hold on
01:55You know, hold on
01:56You know, hold on
01:56So let's see
01:58And there's this
02:00Here's one
02:00So let's see
02:01Like
02:01You know,
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