Debt Consolidation and Credit Card Counseling

Your credit score and report could be in jeopardy after an unfortunate event

.The entire nation has been transfixed since Hurricane Katrina nearly wiped out the entire Gulf Coast. Hundreds of thousands of people have been displaced as floods and winds have destroyed their cities, homes and places of employment. Now they must try to rebuild their lives and that rebuilding has been made more complicated by the fact that many financial records have been lost or destroyed. 

Here are a few financial tips for anyone who has been a victim of a natural disaster.

If you are temporarily relocated, contact the United States Postal Service to provide them with a change of address. This is vital, as your creditors will continue to send you your regular monthly bills. Failure to pay them, even if it’s just because the mail can’t find you, can hurt your credit score. You don’t want that. Be sure to verify that the change of address actually works. You might send yourself a postcard to check. The Postal Service is quite bogged down right now with hundreds of thousands of requests, so it may take a few weeks for the changes to take place

Check your credit report, which you can do at the free credit report Website. This is a good way to determine if you may have been a victim of identity theft. With much looting going on in New Orleans, for example, many people may have had their credit cards stolen. A copy of your credit report can indicate if you may have been a victim. 

Contact your creditors, utility companies and anyone else you pay regularly and apprise them of your situation. Inquire to see if they have any programs that may help you. Many mortgage companies are offering help to homeowners in the form of temporary suspension of payments, for example. Each lender has their own policies, so be sure to ask.

If you find that you have been a victim of identity theft or use of stolen charge cards, be sure to contact the police and file a report. After you do this, contact the three bureaus (Experian, Trans Union and Equifax) to let them know. You can place a fraud alert on your financial report that will let you know if any unauthorized activity is taking place in your name.

The Federal Trade Commission has a page on their Website devoted to identity theft tips, as well as a fraud report that you can send to those companies that show fraudulent activity in your name.

It is difficult enough trying to recover from a disaster that may have destroyed your home and your job without having to worry about being the victim of a financial crime. Anyone who has suffered from Hurricane Katrina should take immediate steps to make sure that they haven’t suffered additional financial losses.

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