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MMI Offers Hurricane Survivors Simple Steps to Begin Securing Their Financial Futures
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For more information contact:
Kelly Rote (713) 394-3201 |
Release Date: September 6, 2005 |
While personal health and safety are of the utmost importance to the thousands of displaced residents, there are some simple steps that can be taken to help rebuild their financial futures.
Money Management International (MMI) has assembled a few basic tips our neighbors can use to protect their identities and financial interests.
1. Make an inventory of all lenders and creditors and begin contacting them as soon as possible to update them on your situation. If you do not have access to specific names and numbers, that information can be obtained by pulling a copy of your credit bureau file. A free report is provided annually at www.annualcreditreport.com. If you feel it is likely that personal information may be used fraudulently, add a “fraud alert” with all three credit bureaus so they can track any suspicious activity. (www.transunion.com, www.equifax.com, www.experian.com).
2. Call your mortgage company. Both Fannie Mae and Freddy Mac are urging lenders to consider waiving late fees and penalties and to temporarily suspend reporting of delinquencies caused by the disaster. You must initiate the process and stay in close touch with your mortgage lender.
3. Check with your insurance company about policy coverage and specific filing requirements the company may have. Begin making a household inventory list for items that may be covered under your insurance policy.
4. If you do not have insurance, or have emergency needs that insurance does not cover --- Call 1-800-621-FEMA (3362) - TTY 1-800-462-7585 - to apply for federal disaster assistance.
“At this point, financial security is secondary behind the health and safety of the evacuees, “ said Kelly Rote, Communications Manager. “As the healing process begins and the victims look to reconstruct their lives, piecing together the financial details will be an increasingly important task. Because we live and work in these communities, we want this basic information made available so they can make the best decisions for their families." |
Money Management International (MMI), is a non-profit community service organization that provides confidential financial guidance, counseling and debt management assistance to consumers nationally via the telephone and Internet. In the third quarter of 2000, MMI merged with Consumer Credit Counseling Service of the Gulf Coast Area, Inc., to form the industry’s first and largest full-service credit counseling organization. The two Houston based non-profit companies have over 24 years of combined industry experience. To visit with a credit counselor, call toll-free 1-800-762-2271 24 hours a day, 7 days a week. Spanish speaking counselors are available. Consumers can also learn more by visiting the MMI home page at www.moneymanagement.org. |
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