Blog Post  Managing Bills After a Natural Disaster

Following a natural disaster, consumers in the disaster area are undoubtedly faced with challenges. After making sure loved ones are safe, attention turns to repairing damages and salvaging belongings. Day-to-day activities are often forgotten or put off. But it’s important to remember there are responsibilities, such as paying bills, which need to be addressed as soon as possible.

To help prevent a disruption of your finances, consumers should prepare:

• Have copies of important documents, account numbers, and contact information handy. Ideally, these items should already be stored in a safe (preferably fire and water proof) location.

• Contact your bank, lenders, and creditors as soon as possible. Explain the situation and see what options might exist. Document all conversations, the date, time and the name of the person you spoke with.

• Call your utility providers and discuss whether requesting a suspension of service is feasible if you are unable to return to your home.

• Obtain a copy of your credit report. You can get a free report each year from the three main credit bureaus (Experian, Equifax, and TransUnion).  In the event negative information is added to your report which you want to contest, it’s good to have a copy of your report pre-disaster.

• Sign up for automatic billing if possible. In the event of an emergency, automatic monthly billing can ensure bills are being paid, allowing consumers to focus on other concerns.

Consumers have enough to worry about after a disaster. Fees and penalties shouldn’t be one of them.