Natural disasters can wreak havoc on your finances, but there are resources available to help you recover and rebuild.
First, reach out to FEMA. You can text “DRC” and your ZIP code to 43362 to find a disaster recovery center. They also have a mobile app that can guide you to shelters and resources.
Don’t forget about local agencies and groups like the Red Cross. Just call 211 or check out 211.org for more info. Also, check your credit card or hotel loyalty accounts. You might have points or free nights that can help with immediate lodging costs.
Once you’ve tackled your immediate needs, it’s time to focus on your finances. FEMA offers various assistance programs, including unemployment and rental help. You can register online at DisasterAssistance.gov or through their app.
If you need extra support, Money Management International has a free program called Project Porchlight. They help disaster victims navigate the recovery process and stay on top of deadlines.
Next, contact your insurance company. The sooner you report damage, the better. Review your policies to see what’s covered and what isn’t. If you have flood insurance, check that too.
If you’re worried about making mortgage payments, reach out to your mortgage servicer right away. They might offer forbearance options to help you avoid foreclosure.
For student loans, federal borrowers can request a disaster forbearance to pause payments for up to 90 days. If you’re a student, talk to your school’s financial aid office about your situation.
As you start to rebuild, be strategic with any aid and credit you receive. Applying for as much help as possible can ease the financial burden. Some credit card companies are making it easier to turn credit into installment loans, which can help manage expenses.
When you have a clearer picture of your debt, consider strategies like the debt snowball method to pay down balances. And don’t forget to explore debt relief options if you’re feeling overwhelmed.
This process can be tough, but remember, you’re not alone. There are resources and people ready to help you get back on your feet.
