Money Solutions (Part 2)
Be aware of potential for fraud and scams.
Unfortunately there are criminals out there who prey on individuals suffering financial hardships. Here are some tips to help you avoid becoming a victim.
- Mortgage relief – only work with your lender to set up mortgage relief.
- Debt Relief Scams – many of these services charge high up-front fees, and chances are you can negotiate payment options with your creditors on your own.
- Lottery Checks – if it looks too good to be true, it probably is.
- Job Hunting Scams – Work from Home Scams that ask you to pay money up front
- Advance Loan Fees – Don’t pay upfront fees to get a loan
What can EECU do for me?
We are committed to the financial well-being of each and every member. In addition to working with your creditors, you may need to look at your options for modifying an existing loan or securing a new loan at a lower rate to consolidate your debt. Here are a few of the ways we may be able to help:
- Consider refinancing a Mortgage and/or Auto Loan to possibly lower your rate and your monthly payment.
- Borrow with a Home Equity Loans / Lines of Credit or a Consolidation Loan and use the funds to consolidate your debt.
- Consolidate high-interest credit cards into one low-interest rate credit card
Feel free to stop by any of our branch offices or call us at 817.882.0800 for additional information and ways we may be able to assist you.
Additional tips and resources
There are additional resources for direction and guidance on financial matters through our website at www.eecu.org. The information is free and visitors are not required to be a member of our credit union. The website includes a wide array of resources from one-on-one financial counseling to create a debt management plan to instruction on how to balance your checking account.
Click here for additional resources available at eecu.org
- Accel- Members Financial Counseling
- Accel- BudgetSmart Budgeting Software
- Accel-Video Library -So you can check out an exclusive collection of brief, informative videos that cover a wide variety of financial topics and life events
- Accel- Information Library – Additional financial articles and audio files about consumer protection, credit issues and money management
Additional resources available to you:
- Consumer Handbook to Credit Protection Laws http://www.federalreserve.gov/creditcard/
- www.annualcreditreport.com – Review your credit reports for accuracy and know your score
- Doughroller.net – Offers dozens of painless money saving tips
- MSN Money – http://money.msn.com/ Smart Spending Blog details ways to save money and get good deals on a variety of items – Not Made of Money.com blog – A husband and wife provide ideas on personal finance
- IRS.gov – http://www.irs.gov/newsroom/article/0,,id=204335,00.html Offers information on tax-related provisions of the American Recovery and Reinvestment Act
- Legal Aid of Northwest Texas – http://www.lanwt.org/ Can help solve problems with public assistance denials, divorce and child support, evictions, foreclosures, domestic abuse, and fraud.