From CFS2 comes the following good advice if you or your property were affected by last weeks tornadoes.
Officials with CFS2 today urged friends and family of Oklahoma tornado survivors to encourage their loved ones to alleviate disaster-related financial crises by taking the following steps:
1. Report the loss of your credit, debit and ATM cards to the card issuer as quickly as possible. Many companies have toll-free numbers and 24-hour service for such emergencies. Once the loss of a card is reported, federal law says you cannot be held liable for unauthorized charges or transfers that occur after that time.
2. Continue making auto and mortgage payments, even if your car and home were destroyed. Communicate with the lender about the disaster and your temporary inability to pay. The lender will almost always work with you.
3. Notify creditors, including those that hold your credit cards and student loans, of the situation as soon as possible. Some creditors will agree to postpone payments for a period of time. Don’t let a disaster turn your credit into a mess, too.
Tornado victims who would like assistance arranging a customized debt forbearance plan with their creditors should call CFS2, toll free, at 877-772-0951. CFS2 will work with creditors to assure no negative information is reported to credit bureaus during the period payments are postponed.
CFS2 is providing the financial disaster recovery service at no cost to tornado victims.
“While the challenges resulting from a disaster are many,” said Bill Bartmann, CEO, “it’s vital tornado victims don’t ignore their debt. If you need help dealing with creditors, please call us.”