Hi,
If there aren't enough funds on hand to take care of immediate needs after the death of a spouse, these are some steps one can take:
1) Notify the mortgage lender to ask for the month's mortgage payment to be deferred. Contact a property management company to ask that the month's rent be adjusted.
2) If there are insufficient funds to make full utility payments, contact the companies to ask for suitable payment arrangements.
3) If your transportation needs involve a car loan, and you need all, or a portion of the car payment extended, call the financial institution holding the loan. They are usually happy to cooperate under these circumstances.
If the deceased had any connections to the military or employee based membership societies (Police and Fire for example) contact related organizations (Veteran's groups etc.,) to see what help they have available for spouses of newly deceased former members.
It's important to have our trusted friend authenticate any unusual or questionable bills by calling the creditors to ask for the specifics involved in the goods or services provided to generate that particular bill. Unfortunately, predators abound in times of tragedy, and submitting false bills for payment is a scam used when they think they can take advantage of a person's inability to focus.
Tomorrow I'm going to talk about intermediate financial actions which need to be taken after the death of a spouse.
Until then,
Alan
Showing posts with label predators. Show all posts
Showing posts with label predators. Show all posts
Tuesday, April 10, 2007
Thursday, April 5, 2007
Instantaneous Economic Downturns
Hi,
There are various events that occur in our lives which are not only huge emotional hardships, but may bring financial chaos as well. Events of this stature may include death of a spouse, catastrophic illness, sudden loss of job, divorce, and unexpected family emergencies which result in unplanned long term care for a family member's children. I will discuss each of these events in future blogs. There are a few things which are required when dealing with any emergency financial downturn:
1) Emergencies bring panic. It is crucial to have a trusted person who is objective and can offer emotional monitoring feedback through the acute stage of the event. Many times the best course of action is "no action" for the moment, and the person in crisis needs to hear an outside voice say that. If you are alone in a new city when crisis hits, take advantage of the closest crisis hot line.
2)Unfortunately predators come out of the woodwork to take advantage of people at their most vulnerable times. Predators may masquerade as "good neighbors", "church members", or even "long lost friends of the family". One typical predator approach is to act too overly helpful, too sympathetic, too understanding, too ingratiating, and too willing to be the person one can rely on during a hard time.
3) A person in an acute crisis should not make any financial decisions without the input of an objective trusted individual.
Tomorrow I will start talking in detail about how to cope with the specific financial crisis caused by the death of a spouse.
Until then,
Alan
There are various events that occur in our lives which are not only huge emotional hardships, but may bring financial chaos as well. Events of this stature may include death of a spouse, catastrophic illness, sudden loss of job, divorce, and unexpected family emergencies which result in unplanned long term care for a family member's children. I will discuss each of these events in future blogs. There are a few things which are required when dealing with any emergency financial downturn:
1) Emergencies bring panic. It is crucial to have a trusted person who is objective and can offer emotional monitoring feedback through the acute stage of the event. Many times the best course of action is "no action" for the moment, and the person in crisis needs to hear an outside voice say that. If you are alone in a new city when crisis hits, take advantage of the closest crisis hot line.
2)Unfortunately predators come out of the woodwork to take advantage of people at their most vulnerable times. Predators may masquerade as "good neighbors", "church members", or even "long lost friends of the family". One typical predator approach is to act too overly helpful, too sympathetic, too understanding, too ingratiating, and too willing to be the person one can rely on during a hard time.
3) A person in an acute crisis should not make any financial decisions without the input of an objective trusted individual.
Tomorrow I will start talking in detail about how to cope with the specific financial crisis caused by the death of a spouse.
Until then,
Alan
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