If you cannot repay your Home Equity Line of Credit, contact People Driven Credit Union as soon as possible. Because a HELOC is secured by your home, missed payments can lead to late fees, negative credit reporting, collection activity, suspension of future advances, and, in serious cases, foreclosure.
The best step is to reach out before you miss a payment or as soon as you know you may have trouble making one. Early communication gives us a better chance to review your situation, explain what options may be available, and help you understand the next steps based on your account.
If you are having trouble making HELOC payments, call People Driven Credit Union at 844-700-7328 or 248-263-4100 as soon as possible. Because your home secures the line of credit, it is important to borrow carefully and ask for help early if your financial situation changes.
