Top 5 Financial Tips To Weather The Storm After The Storm
-EMERGENCY PREPAREDNESS ALERT-
Emergency preparedness is a catchphrase of late, what with the catastrophic weather and similar events in the news. But along with having enough water and stocking up on non-perishable food, financial preparedness should be considered of nearly equal importance, saving you from spiraling debt and the harassing debt collector. Below are the top 10 tips to help you weather the storm after the storm, put together by consumer advocacy attorneys Kimmel & Silverman, a leader in the legal industry.
1. Create an emergency fund and a little used credit card.
Local financial institutions and ATMs may be out of service for several days following a disaster, so always have at least $200 cash hidden away to pay for emergency expenses. If possible, keep a rarely used credit card with the cash as it may be the only thing available to secure a place to stay. Keep receipts for temporary lodging, as they may be reimbursed through your policy coverage.
2. Update your insurance policies and coverage.
A disastrous event can impact all aspects of your life. Make sure your homeowners, auto, life, valuable property and flood insurance have sufficient and current coverage. Be sure to know what’s covered under your plan and any deductibles you may be responsible for. Scan the papers and email them to yourself, clearly labeled, so you can access and review them if needed.
3. Protect your records.
Place your important insurance and financial documents in a safe-deposit box or secure, waterproof storage cabinet. Scan the papers and email to yourself if possible. Include property deeds and titles for your home, car, and other property; insurance policies; original wills and powers of attorney, and backed-up financial records.
4. Keep a record of insurance policy information and have it on hand.
Scan and email to yourself copies of your policy numbers, name of your agent, and all phone and email contact information, for all insurance policies. You’ll need it to make a claim.
5. Store 1-800-NOT-FAIR and www.creditlaw.com in your smart phone.
In case debt collectors take advantage of your emotional and financial vulnerability, get legal help immediately. If your rights under the Fair Debt Collection Practices Act (FDCPA) are being violated, we can stop the harassment quickly and permanently, and assert a claim for up to $1,000 for you per violation, all without charge or fee to any client we serve.