The Impact of COVID-19 On Credit Reporting

by AFIA

Due to COVID-19, businesses are experiencing unprecedented disruption to supply and demand, resulting in significant economic contraction. As a result, unemployment has drastically increased, with consumers unable to make repayments for staple expenses such as mortgages and credit card bills. To alleviate stress for Australians facing financial hardship, many banks are granting a six-month deferral on loan repayments for eligible customers, with no affect to their credit rating.

This webinar sees one of Australia’s leading bureaus – Equifax - offer exclusive insights on the recent changes to credit reporting in Australia, what financial institutions need to be aware of with credit reporting in this current climate and the initiatives available to borrowers to minimise the impact of Coronavirus on their credit standing.

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