ArticlesReader.com Menu
Newest Articles
Most Viewed Articles
ArticlesReader.com RSS
Submit Article
Login
Signup
Search the articles

Articles Main Categories
Advice
Animals
Automobiles
Business
Career
Communications
Computer Programming
Computers
Entertainment
Environment
Family
Fashion
Finance
Food
Health & Medical
Home & Garden
Humor
Internet Business
Internet Marketing
Legal
Leisure & Recreation
Marketing
Other
Politics
Reference & Education
Religion
Self Improvement
Sports
Technology & Science
Travel
Writing
Subscribe
Receive alert message from us when new articles submitted to our site for free.

Enter your name

Enter your email

Syndicate

















Related Products
Home::Finance

Hurricane Recovery: Financial Institutions Step It Up

Author : Matthew C. Keegan
We have all heard the stories of financial institutions exploiting consumers with shady practices such as exorbitant interest rates, hidden fees, and the like. These accounts anger us and, rightfully, those that practice these deeds should be exposed. Fortunately, not all reports are bad as evidenced in the way many companies are treating their customers in light of recent disasters such as Hurricanes Katrina and Rita. Let’s take a look at how some companies are responding in the wake of disaster.



1. Disaster Relief Programs. If you live in an area designated by the Federal Emergency Management Agency [FEMA] and own property, you may be eligible for relief depending on your financial institution and the program they have in place. One well known bank, for example, is automatically deferring mortgage and home equity loans for as long as ninety days, or three payments. In addition, this same bank is not assessing late charges for that timeframe, nor are they reporting negative information to affected consumers credit reports.



2. Payment Holidays. Similar to disaster relief programs, several credit card companies are allowing their customers to not make credit card payments for a two or three month time period. Two institutions have stated that they will not collect late fees, but in each case it is not clear whether customers will still be charged interest on their unpaid balances.



3. Loan Extensions. The financial arms of several automakers are allowing customers in affected areas to defer loan payments for up to three months. Essentially, these institutions are extending the loan’s length and adding the months to the end of the loan period without charging customers fees for this service.



If you live in any of the affected areas, it is best to contact your financial institutions directly to learn exactly what type of deferral plans, if any, they have in place. Some programs are less clear than others, particularly the payment holidays for credit card holders since it isn’t always apparent whether you will still be charged interest during the affected time period. Still, these types of compassionate gestures by certain financial institutions can create plenty of goodwill for consumers and they are the types of corporations certainly worth patronizing for the long term.


Article Source: http://www.articledashboard.com





Copyright 2005 -- Matthew Keegan is the owner of a successful article writing, web design, and marketing business based in North Carolina, USA. He manages several sites including the Corporate Flight Attendant Community and the Aviation Employment Board. Please visit The Article Writer to review selections from his portfolio.





Spam emails More free articles

Related articles


  1. Summer's Interest Rate Mystery
  2. Dirty Money; be careful what you touch
  3. Protect Your Assets and Your Financial Future
  4. Financial Freedom for Doctors
  5. Financial Freedom for Lawyers
  6. Is My Money Safe? On The Soundness Of Our Banks
  7. Annuity Transfer - What Are The Risks
  8. Love, Marriage and Money
  9. How To Reduce Banking Fees
  10. Turning Your Trash Into Cash
  11. Saving Money: Finding What Works for You
  12. Treat Money Well To Attract More
  13. Has Psychology Stolen Your Investing Objectivity?
  14. "Will That Be Cash Or Credit?"
  15. Time Out
  16. Getting Some Perspective On Your Avoidance Habits
  17. 3 Steps to Personal Financial Success - Part III: Save Some Money
  18. Creating A Realistic Business Budget
  19. Don't Buy The Government Grant Guides From The Joker Or The Joke Will Be On You
  20. To Factor or Not to Factor?
  21. How To Balance Your Checkbook Instantly!
  22. Why Are So Many Americans Financially Dumb?
  23. Data Mining
  24. We The People, Must Follow Through
  25. Feespeak
More related feeds
hurricane recovery financial institutions step it up
we have all heard the stories of financial institutions exploiting consumers with shady practices such as exorbitant interest rates, hidden fees, and the like. these accounts anger us and, rightfully, those that practice these deeds ...

hurricane recovery: financial institutions step it up
3. loan extensions. the financial arms of several automakers are allowing customers in affected areas to defer loan payments for up to three months. essentially, these institutions are extending the loan’s length and adding the months ...

Bush to 'safeguard financial system': The Swamp
It's important for the American people to know that we will safeguard the financial system as the first step necessary for financial -- or for economic recovery. And I -- so Mr. Secretary, thanks for your hard work. Appreciate it. ...

Cayman Islands - Cay Compass News Online - More rescues possible
Analysts said a Citigroup failure would have seized up still–fragile lending markets and caused untold losses among institutions holding debt and financial products backed by the company. Fratto said companies like Citigroup are so ...

Debt Reduction Tips to Manage Your Debt : Smarter Finances ...
Debt consolidation loans will save you money in interest repayments and save you from debt problems. Before you apply for one of many debt consolidation loans that the financial institutions offer, make sure you know the “fine print”. ...

hurricane recovery: financial institutions step it up
the financial weaponry of respective automakers are allowing clients in affected countries to postpone loan payments for up to three months. essentially, these establishments are extending the loan’s length and adding the calendar ...

The Dirty Secret of the Financial Crisis: Our Banking System's ...
LaRouche noted that every major financial institution of the United States, Europe and Asia is tied up in the derivatives collapse, but no one has a clear picture of the exposure of the other financial institutions. ...

Financial Markets Wild Ride Between Fear and Optimism :: The ...
Asha Bangalore ( Northern Trust ) commented as follows: “The lowering of the Fed funds rate, the Fed's innovative programs to provide liquidity to financial institutions and more lenient rules for borrowing through the discount window ...

Real Estate Blog - FLORIDA FORECLOSURE RELIEF FOR THE HOLIDAYS
In other words, struggling homeowners can breathe easily through the holidays knowing that foreclosure petitions and sales will cease to be filed by financial institutions during this 45 day hiatus. Since Governor Crist's meeting with ...

1 YEAR. $1 TRILLION | Reconstitution 2.0
I am impressed that so many of us understand that Chimpy’s massive wealth transfer to the rich (disguised as a “bailout” of financial institutions) is likely to do nothing to make things better, and quite possibly will make things much ...

 


 

2007 articlesreader.com - All Rights Reserved