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Financial Credit CounselingSometimes paying monthly bills can be a difficult process. Mortgage payments or rent, credit card debt and car payments can quickly add up and you could find yourself falling behind. HEWFCU can help you if you are experiencing these difficulties. We have experienced and trained Credit Counselors who can evaluate your particular financial situation and offer suggestions on how to get out of debt and plan a budget wisely. All consultations are completely confidential and may help you towards gaining control of your finances.
We strive to educate our members in their rights and responsibilities as consumers in our credit-oriented society by:
- Helping members compare and contrast credit card offers. We want to educate members about the cost of credit, hidden fees, and instances where the interest rate may be different for purchases vs. balance transfer
- Helping members review their credit report for purposes of helping them identify and correct mistakes
- Educating members as to the importance of maintaining a clean credit report
- Reviewing requirements for purchasing a home. We want to help members prepare for the goal of home ownership, review various types of funding available and requirements for loan qualifications
- Educating members as to the collection process used by creditors - what happens when they start missing payments
- Educating members on their rights under the Fair Debt Collection Practices Act
We also have Budget Counseling free to all members. This process may include:
- Reviewing monthly income and expenses for the purpose of identifying areas in which members might be able to economize
- Designing a financial plan that will help track cash flows
- Suggesting methods for increasing their savings and identifying funds available for debt repayment
If required, we will recommend a debt management plan tailored to a member's specific circumstance. Per the member's request, we can contact creditors to negotiate payment schedules and determine the creditor's policy regarding reduced interest rates and elimination of late fees.
Members are encouraged to stay in touch and use the financial counseling office as a resource.
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