Take Action - Financial Recovery

May 20, 2021Paying Off Debt

If you are like most of us, this past year has had its unexpected financial ups and downs. It has caused many of us to reshuffle financial obligations and reprioritize commitments.  It can be a scary feeling to hear the phone ring and know that on the other end is a creditor. The most important thing is to take action!  Be proactive in your financial wellness and start to rebuild today.  No matter the state of your current accounts, you can always turn them around!  Yes, it may take time and definitely some work but you can do this and you are not alone!

Finding yourself with past due or collection accounts? Here are 3 helpful tips to build that relationship with your creditor and get them to work for you!

  • Ask for help – The first and probably hardest thing to do is ask for help from your creditors. Now is not the time to be shy. Many creditors offer different options or hardship programs that you can apply for but may not advertise. 
    • Did you know? HAPO has a team of Financial coaches who are certified and trained to help you on the road to your financial wellness! You are not alone.  Reach out to them today and book a free appointment.  No HAPO membership required!
  • Communication is key –Picking up the phone to talk with a creditor can bring with it many different emotions and we know it can be hard. But don’t sweat or fret! It is important to empower yourself and feel confident when communicating what your needs are. Explain to them what you are going through and what has caused you to fall behind.  Your backstory does matter! It is important creditors know your story so that they will be more invested in helping you and better customize a payment plan you can afford.
    • Have a past due account with HAPO? We have a designated team trained and ready to help those that find themselves in financial crisis.  Please contact us today to go over available options!
  • Commit to your plan – It is easy to overextend yourself and agree to your creditor’s terms because you feel helpless. However, it is important to analyze your budget and commit only to a payment plan that you know you can keep.  Many creditors are more likely to work with your plan if you consistently maintain your arrangements. If you can find that happy medium with them, nurture that relationship and stick to it!

We understand that COVID has impacted many of our members and we want you to know that HAPO is here to help.  We are committed to doing all we can to see our members through this difficult time and encourage any member faced with financial hardship to contact us directly.  Today is the day to take action and remember: We got your back!

Take Action

Tawney Edgmond

Tawney Edgmond

Asset Recovery Assistant Manager | HAPO Community Credit Union



Receive regular updates on new Blog posts and Podcast episodes


Building Credit / Debt / Financial Coaching / Building a Budget