| All conscientious consumers build their | | | | reporting agencies, cancel the missed |
| credit score and are always accurate with | | | | payments before the disaster or disclaim late |
| payments, feeling free to take new loans. But | | | | fees. |
| one rarely can expect that there are | | | | |
| circumstances which he can't influence and | | | | Victims of natural disasters, as suffering |
| which can damage his credit and his assets. | | | | from unmanageable circumstances, are not |
| I'm speaking about natural disasters - | | | | included in the lists of debt collecting |
| hurricanes, floods, volcanic eruptions. They | | | | companies. Instead, the bank provides |
| are as much unforeseen as a divorce or job | | | | assistance in the form of extending the term |
| loss, but the thing is very often people are | | | | of debt reducing, not increasing your |
| taken aback, thinking that laws and bank | | | | interest rate or some other concessions. |
| agreements do not imply any protection or | | | | |
| legal regulation for cases of credit | | | | Some companies, like Capital One or American |
| disability. | | | | Express, guarantee that consumers, who at |
| | | | least once applied for their credit card |
| Can you imagine your credit cards, financial | | | | offers and have experienced serious damage |
| documents, assets - all attacked by, say, a | | | | from a natural disaster, will not have to pay |
| hurricane? You can lose much more, but let us | | | | late fees and other charges unpaid in the |
| not speak about loss of home or dear people, | | | | past. Besides, these companies promise they |
| rather of humane considerations. Let us focus | | | | will consider the account and financial |
| on how you can resist or recover from the | | | | circumstances of each disaster victim on an |
| financial losses in a natural disaster. | | | | individual basis. |
| | | | |
| If you faced a misfortune of suffering in a | | | | The card holders with flawless credit history |
| hurricane and losing ability to pay, you | | | | can be rewarded for the past responsibility - |
| shouldn't fear you'll also fall victim of a | | | | they can enjoy paying no interest rate son |
| ruthless creditor who will make you by all | | | | their credit cards and loans. Bank displaying |
| means pay your balances, without any hope of | | | | loyalty to hurricane or flood victims, can |
| relief. Many reliable banks, credit unions | | | | introduce special offers with rewards or |
| loan and credit card companies run a program | | | | lower rates, or replacement for their lost |
| for financial support of their customers | | | | cards, so that people could faster recover |
| suffering from natural disaster's fall-outs. | | | | from losses. |
| It especially concerns Katrina aftermath. | | | | |
| | | | Of course, you can protect yourself from all |
| You can ask: how can a bank help me to | | | | these problems by means of insurance. But in |
| recover, he can't deny getting his money | | | | this case, you will have to pay considerable |
| back? | | | | insurance payments. |
| | | | |
| Almost in all cases, the solution a bank | | | | One that is armed with knowledge is almost |
| suggests after hearing about your distress is | | | | protected. So, it is up to you whether to |
| far from what you expect. Filing for | | | | protect yourself from unforeseen problems or |
| bankruptcy can be an easier way for you, not | | | | not. Hope for the best and choose a good bank |
| the bank - this way they can't return at | | | | - that's the only advice! |
| least a part of their money. They can rather | | | | |
| offer you to extend your repayment, change | | | | Well-experienced as a consumer finance and |
| the interest rate or present introductory | | | | debt consultant,Mary Bailey majors in |
| periods. If you had debts or payment | | | | publishing articles devoted to building |
| delinquencies before the disaster happened, | | | | credit, managing debt and comparing credit |
| the creditor can be so kind as to stop | | | | cards to chose the right one. |
| sending negative information to credit | | | | |