What to do When Falling Behind on Payments

Falling behind on your bills can negatively affect your credit score and lead to high late fees and penalties. Not sure what you should do first if you start to fall behind on your loan payments? The ICCU Financial Recovery Experts are here for you.

1) Don’t avoid the situation. We have solutions to help you from helping you consolidate bills to prioritizing current and missed payments to help you stay on track.

2) Get organized. One of the first steps to catching up on bills is to know the full picture of your income and expenses. And that means it’s time to get organized. Whether you create an excel spreadsheet or you’re more of a pen and paper type, you want to lay out every bill.

3) Reach out early to plan. If you are starting to struggle, give us a call, and we can help you create a plan. Making a budget and creating a calendar for making payments are good ways to ensure all your bills are paid on time.

4) Be leery of other debt relief services. ICCU has trained professionals that can assist you with getting back on track with paying your bills.

Falling behind on your bills is undeniably stressful, but with some organization, budgeting, and careful spending, you can have a better understanding of your financial situation, allowing you to make your plan to catch up with your bills and get more control over your financial future.

Isabella Community Credit Union ∙ 989-773-5927