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Residents of Hawaii are familiar with the effects of inclement weather. A hurricane is just one threat that can send your finances into a tailspin, so it’s essential to know what to do after a disaster. The financial  professionals at Hawaiian Tel Federal Credit Union, which has locations on Oahu and Maui, want customers to have access to the funds they need and offer guidance about what to do financially after a severe storm.

5 Tips for Dealing With a Hurricane

Contact Your Insurance Agent

Report a claim to your insurance agent as soon as possible. That way you will have a timeline for when you’ll receive funds, allowing you to budget better for expenses related to repairing or rebuilding your property.

Obtain a Credit Report

Financial plan services Oahu Maui HIYou always should have a good idea of your credit rating, so request a copy of your credit report. Having this information before a storm strikes will give you leverage during post-hurricane negotiations with contractors — especially if you have an excellent score.

Research Assistance Options

Financial plan services professionals urge clients to look into disaster assistance programs. Plans are funded privately and publicly to offer coverage for expenses not included in your insurance policy.

Devise a Common-Sense Budget

To help you manage the additional expenses of a weather disaster, revise your budget to keep your finances on track. Include short-term expenses like hotel stays and generator rental and long-term costs like plumber and contractor bills.

Reach Out to Creditors

Inform creditors of your financial situation after a hurricane. They might reduce your monthly payments or offer a grace period until you get back on your feet. Whatever assistance you receive, get the terms in writing.

Hawaiian Tel Federal Credit Union is a trusted financial resource for Oahu and Maui residents, offering everything from convenient personal banking to a broad range of loans. To learn more about their financial plan services, visit their website. To speak with a representative of the credit union, call 832-8700 on Oahu or (800) 272-5255 toll-free. Follow them on Twitter for more advice from their emergency planning experts.

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