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CARES Act and New Changes To FCRA

Updated: Jan 31, 2022

The CARES Act was signed in to law on March 28, 2020 in response to the recent (COVID-19) outbreak and contains an amendment to the Fair Credit Reporting Act.

Changes to the FCRA impose a new, temporary credit reporting requirement for creditors that will require them to continue reporting the consumer using the consumers status at the time that the accommodation began. If you have been affected by COVID-19, you may be eligible for relief in paying bills such as mortgage, auto loans and student loans. You MUST contact your creditors to apply for most of these programs.

How to protect your credit?

Contact The Creditor and ask about current Programs.

Many creditors and companies are offering different programs for relief. These include forbearance's, skipped payments and possibly lowered payments temporarily.

Document all contact and agreements

When speaking with your creditors about any agreement make sure you document and save all relevant info for your records. This can include screenshots, emails, mail, and even recorded phone conversations. All forms of communication should be documented.

Check Your Credit Reports

We advise all consumers to check your credit reports at least every 30 days. You are entitled to at least one annual credit report from the three major credit bureaus. Currently is offering FREE WEEKLY reports.

***On April 1st the Consumer Financial Protection Bureau says that due to the COVID-19, credit bureaus will have 45 days to correct errors on credit reports(Usually they have 30 days).


In a financial crisis access to credit is very important. Protecting your credit will provide more and even better options when you need them to qualify for new credit. One late payment can drop your score drastically so make sure you take advantage of the available programs if you are unable to make your payments.

Knowing your credit score is very important especially in today's society. Negative items will cause denials and low score ratings for consumers seeking new credit. At Valiant Credit Services We have over 15 years Experience and we know what it takes to remove negative items and improve our clients credit scores. Check out some recent results below. Contact us today if you have questions about your credit report and credit score. Schedule a FREE consultation with a Senior Credit Consultant today. You can do this by clicking the link BOOK NOW OR CALL 866-373-1377.


Client Results


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