Many in Florida are reeling from the impact of hurricane Irma. Life was disrupted and the rebuilding must go on. While some lost their homes, others lost their ability to earn a living. In response to this, many creditors are offering assistance to help you “get back on track.”
Did you know many creditors are offering deferment on certain existing consumer loan payments? While the impact to my business was not significant, I was able to contact my auto loan financing company and they gave me “a break” on my payments due for the next 60 days. The payments were moved to the end of the loan agreement. Interest still accrues but it certainly does help with my cash flow to take care of more pressing matters.
Contact your creditors (auto, utilities, credit card, cell phone, etc.) and ask them what type of assistance they are offering to those impacted by the hurricane. Be cautious however of a forbearance agreement with your mortgage company. While they may give you a pause on payments due for say 90 days, they will expect you to be caught up with all your payments by the end of that period.
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