CCCS of Buffalo - Dare to be Debt Free

  During the past year, many of us have been facing unprecedented challenges and financial uncertainty. It is important, for some now more than ever, to ensure that you are in good financial health and that the information on your credit reports is accurate. Many people are familiar with www.annualcreditreport.com which is the only authorized site to get a completely free copy of each of your three credit reports once per year. The site is authorized by Federal Law. Because of these unprecedented times, everyone can now get free weekly credit reports through www.annualcreditreport.com There are three different credit bureaus that report our credit history: Equifax, TransUnion, and Experian. It is important to check all three for accuracy, as some lenders may only report to one or two credit bureaus. This is a wonderful way to be able to stay on top of your credit reports, and gives you more opportunities to check in, especially if you are working to pay things down, or take car

It has been a financial challenging year for many Americans, and with that a lot of effort has been expended trying to keep people in their homes by halting foreclosures and evictions. This is the latest update regarding COVID-19 mortgage relief: ·         If your home was in foreclosure prior to the onset of the COVID-19 pandemic, there has been a moratorium that keeps the foreclosure process from continuing. Currently there is a foreclosure moratorium on federally guaranteed mortgages through June 30, 2021 meaning homeowners are protected from the initiation or continuation of foreclosure proceedings. These mortgages make up about two-thirds of resident mortgage loans across the nation. ·          If the house you are living in foreclosed before the Pandemic and became a Bank owned property (REO), you cannot be evicted until after June 30, 2021. ·          The mortgage payment forbearance enrollment window was also extended through June 30, 2021. Payment forbearance allows hom

  Student Loans: Their Current State & What to do Next   At the onset of the pandemic, in anticipation of economic challenges and concerns looming for nearly 43 million loan borrowers, student loan assistance came when legislation passed within the CARES Act, providing a student loan payment pause and interest waiver through September 30, 2020 on federal education loans held by the U.S Department of Education. Fast forward over one year, three extensions later, and federal student loans are at a standstill. We want to recap the current relief that is available on student loans, as well share some strategies you can take now, and going forward as the relief expires. Current Relief Available: Interest and monthly payments on federally held loans are suspended through September 30, 2021. You do not need to contact your student loan servicer or take any action on your federally held student loans. Make sure your servicer has up-to-date contact information and