Borrow from us...Credit Counseling

Times are tough right now, and you or one of your family members might be feeling the squeeze of tougher times.  If you are having trouble paying your bills, you might feel overwhelmed and not know where to go for help.

Not sure how bad your situation is?  Think about the questions below and see how your credit habits stack up.  (This test is from the National Foundation for Credit Counseling in Silver Spring, MD.)

• Are you unsure about how much you owe?
• Do you skip some bills to pay others?
• Do you have insufficient cash saved for an emergency?
• If you lost your job, would you have trouble paying for your basic living expenses?
• Have you postponed medical or dental appointments because you can't afford them right now?
• Do you and your spouse/domestic partner argue about money?
• Are creditors calling you about overdue bills?
• Are you exceeding your monthly budget for necessities such as groceries?
• Are you using an increasing percentage of your monthly income to pay off debts?
• Can you make only the minimum payments on your credit card bills?

If you answered "yes" to -
1-2 questions: You may be developing financial problems
3-5 questions: You're on the brink of financial disaster
6-10 questions: You're in over your head

Although you might feel intimidated or embarrassed, now is not the time to delay.  Seeking help through either the Credit Union or credit counseling is painless, and the sooner you seek help the quicker you can get yourself back on the right track.  We understand that many people have financial trouble at some point, and we are here to help you through the process of straightening out your financial troubles. 

Contact a Lending Officer at the Credit Union at (800)940-9466 or via email at lending@massmutualfcu.org today.  We are always here to help you, and we can discuss your financial situation and let you know about the options available to you.

You can also contact Consumer Credit Counseling Services (CCCS) - these offices are nonprofit agencies supported by community organizations and overseen by local volunteer directors.  They're funded through customer fees, charitable donations, and grants, but mostly through creditor contributions.  Most consumers who call a CCCS office don't pay any fees.  Here's what happens:

1. You'll find the nearest CCCS office by calling (800)388-2227 or visiting www.nfcc.org or www.consumercredit.com.
2. You'll set up an appointment and get a work sheet requesting details of your income, expenses, and debts.
3. The counselor reviews the completed work sheet with you to help you determine your course of action.  The session typically lasts two hours or less.

After that initial consultation, you'll either be able to straighten out your own financial situation, or you may need further help setting up a repayment plan.

If you're feeling the squeeze of the tough economic times, know that you have options available to avoid more debt and get yourself back on the right track.  Don't delay - the situation may not get any better until you take the first step and contact us.  Our friendly Loan Officers are here to help you; all you have to do is call.