We want to help you get through the financial storm that the Pandemic is sure to create. Your bills won't stop just because your income drops.
Humphreys Wallace Humphreys has gathered information from various sources for the response you can expect from the big national banks as well as many of the largest banks doing business in Oklahoma. We are also sharing our ideas on what you need to do to secure needed help and to be sure your bank or creditor lives up to their word.
Step 1: Be Aware
You need to be aware of exactly what is being offered and what that means. There are huge differences in assistance offers. A payment deferral is not a payment forgiveness. You must make up and pay back any deferred payment. The question is: when is the payment deferral due? If you are given a three month deferral, does that mean you must pay back the entire amount being deferred at the end of the deferral, i.e., in 90 days from now? Are there fees or charges, such as late fees, being assessed? If so, how much and when are they due? Is the deferral going to damage your payment history or credit score?
Step 2: Check Out What Your Bank Can Provide
Click here for information we gathered from the largest national and local banks doing business in Oklahoma. This list and the offers for assistance that are described may or may not be the most current offer available. Be sure to check with the bank or credit union listed to be sure you have the most up to date information.
Step 2: Confirm Your Agreement
Contact your bank and tell them what you need. Be clear and direct. As always, confirm the specific details of the assistance you need. Get the name and email address of the representative you speak with and send an email confirming the agreement. If they won't give you an email address, at least get the employee's full name or employee ID. Be sure to make and keep good notes on what agreement was made. Document in your notes if you were refused an email address to confirm the specifics of your agreement. Consider sending a fax to the general fax number and be sure to include your name, the date and your account number on everything.
Step 3: Call Us for Free Help if You Hit a Roadblock
Due to the public health crisis, we are offering no-charge consultations to answer your specific questions about your financial obligations to your creditors in Oklahoma and New Mexico, credit reporting and your credit score.
If you run into a roadblock or have questions about your rights or what to do, please contact us contact us for a free consultation.
Be safe and stay at home if you are able!
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