NOTICE TO ALL COMMUNITY FIRST MEMBERS AFFECTED BY THE FEDERAL FURLOUGH:
If you expect that you will be going through financial hardships resulting from the effects of the federal furlough, call us today. We may be able to provide temporary relief by restructuring your loans with us.
Community First has trained Credit Counselors who can help you through this situation. A proactive approach may help to save your credit reputation from the negative marks associated with missed or late payments.
Call us at 472-8210 to speak with a Credit Counselor and let us help you today.
STEP 1: CALL.
Before you call, please gather the following financial information that we’ll be asking for:
If members are eligible to apply for deferment or forbearance, we’ll tell you about some important deadlines.
After the call, you’ll need to submit a hardship letter explaining your current financial difficulty. We’ll have a Credit Counseling Officer assist you through this process.
STEP 2: APPROVAL.
If your approved, your Credit Counselor will send you a letter outlining the terms of your deferment or forbearance, which may include:
In most cases, if the member agrees to the terms, you’ll need to sign and return a copy of the offer letter. Your Credit Counseling Officer will let you know whether you need to return any signed documents to us.
STEP 3: REPAYMENT.
After your situation has improved, you’ll need to repay the past due amount, according to the plan outlined in your deferment or forbearance offer letter, which may include the following:
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