HR 6413
Coronavirus Credit Lapse Forgiveness Act
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Coronavirus Credit Lapse Forgiveness Act, aims to protect individuals from negative credit reporting related to certain debts incurred due to COVID-19. It prohibits credit reporting agencies from reporting adverse information about debts stemming from the illness, particularly for those earning under $50,000 individually or $75,000 jointly. The protections apply to debts incurred within one year of the bill’s enactment and are designed to address potential reporting errors or unfair practices during the pandemic.
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