Have you found yourself in an unforeseen circumstance that has led to a financial crisis: divorce, layoff, illness, etc.? Although these events can more dramatically impact your financial situation, many times, cash flow emergencies can also result from poor planning and management.

How do I get started?
Begin with planning and a structured savings program. Make a list of each anticipated monthly expense (take quarterly amounts or yearly amounts and budget for them monthly). Account for each source of monthly income Only when you know exactly what your needs are can you begin to find solutions.

Is an automatic savings plan necessary?
Lenders look more favorably at an applicant with strong savings resources. Start with a small amount of $5 monthly and increase to weekly. Adjust the amount you save with each annual pay increase.

Who can I contact if I have problems on my credit report?
Columbus Credit Bureau
P.O. Box 1838,
Columbus OH 43216
Fax 614-222-4167

TRW
P.O. Box 2350,
Chatsworth CA 91313-2350
Phone 888-397-3742

Transunion
P.O. Box 1000,
Chester PA 19022
Phone 800-916-8800
To order a credit report 800-888-4213
Place a fraud alert 800-680-7289

Equifax
P.O. Box 74024,
Atlanta GA 30374
To order a credit report 800-685-1111
Place a fraud alert 888-766-0008

What information is needed when disputing entries on a credit report?
Your written correspondence should include: name, current address, previous address for the last 3 years, social security number, signature, brief explanation. You may also include documentation copies that support the explanation. DO NOT SEND ORIGINAL DOCUMENTATION COPIES as they will not be returned.

So, what's next?
You may want to attend some financial education seminars offered through Telhio Credit Union. Check out our website under Member Education for a current list of upcoming seminars.

If you have had credit difficulties in the past, it is generally recommended that, when you are ready to borrow money, you apply for a small loan and demonstrate your willingness to repay without incident. You may use your savings account as collateral in re-establishing a good credit history. The most important part of restoring your financial situation is to show that you will act responsibly toward the credit you have been extended.

With proper planning now and in the future, you can restore your financial situation and gain financial peace of mind!