 TITLE: Are Personal Loan Lenders Offering COVID-19 Debt Relief? CONTENT: How Can Assistance Programs Impact Your Credit?\n-----------------------------------------------\nThe Coronavirus Aid, Relief and Economic Security (CARES) Act requires creditors to continue reporting your account as current as long as it was in good standing when the assistance (called an \"accommodation\" in the act) was put in place. The rule will continue to apply until 120 days after the national emergency declaration ends.\nIf your account delinquency predates these assistance programs, or your account becomes late and your lender hasn't granted you assistance, creditors can continue to report your payments as delinquent, which can hurt your credit. However, if you pay the past-due amount and you bring it current—which may be easier if you don't have to make monthly payments—then the creditor will need to start reporting your account as current. END