I have heard that some Banks have paused Bank issued credit card repayments automatically when a mortgage forbearance is requested, but if what is being said about WF is true, then stick a fork in WF, they’re done.
On a side note I have seen one credit reports so far where there is an active forbearance. We’ve been told “Oh, it won’t hurt your credit” - as in a “30/60/90” day late on the mortgage account. The forbearance did however tank this persons FICO score relative to a credit report ran 90 days earlier. So far I’ve only seen one report, which does not make any of this gospel (yet). I’d be curious to hear from other’s in lending and or finance who have access to credit reports and get some feedback on FICO changes when a forbearance is showing up.
Thanks for reading