Equifax is continuing to closely monitor the rapidly evolving COVID-19 (Coronavirus) situation and its significant financial impact on consumers and businesses around the globe. All businesses — particularly small and medium-sized businesses — are experiencing unprecedented disruption to supply and demand. As a result, the Canadian and global economies face significant economic contraction and a rapid increase in unemployment. As a leader in credit reporting, Equifax and its affiliates support millions of consumers and thousands of businesses across 24 countries. With this global perspective, the company sees and hears the hardships that people are experiencing every day. That’s why Equifax is actively working with creditors and lenders to minimize the effects this virus may have on consumers’ credit standing.
“Canadian businesses and consumers alike are facing uncertainty and challenges on an unprecedented scale,” said Carrie Russell, President of Equifax Canada. “We want you to know that we are with you: working to find creative ways to assist all Canadians – individuals and businesses alike – through this global crisis. We are working to bring about changes that will help Canadians facing financial uncertainty. And, we’re here to support our customers by providing innovative solutions to help them understand the market, efficiently manage and protect their businesses, and navigate this complex environment.”
Consumers and businesses who are, or may be, impacted by COVID-19 are encouraged to contact their lenders and creditors directly to discuss their options. Equifax is engaged with many lenders, telecom and utility providers who are offering a variety of options to help people through modified payment plans.
Canadian consumers wishing to request a free copy of their credit report can do so by calling the Equifax automated disclosure service by visiting www.equifax.ca and clicking “Credit Report Assistance”. Equifax Consumer Services LLS and Equifax Canada are also collaborating to offer easy access to free Equifax credit reports online. More information can be found by visiting www.equifax.ca and clicking on “Equifax’s response to COVID-19”.
Additional support is available for consumers looking to minimize potential negative impacts of the pandemic on their credit through the company’s website. There, people can take advantage of the ongoing educational support Equifax provides about how credit reports and scores work.
Equifax is following guidance from the World Health Organization, the Centers for Disease Control and local authorities to manage during this crisis. The company has activated its business continuity plans to ensure continuous operations for global customers and consumers. In the meantime, more than 11,000 Equifax employees around the globe are focused on continuing to serve consumers and customers.
Equifax will continue playing its essential role in the global economy by providing stability and support for consumers and businesses during these extraordinary economic challenges.