To better protect the privacy and security of your personal information, we are improving the way you login to your online banking information. After entering your Login ID, please select the GO button. You will be prompted to enter your password on the following page. If this is the first time you have logged in since we have introduced these new security features, you will be asked to complete a brief, one-time enrollment. For more information, please visit the Online Banking Help center.
Getting in over your head is stressful. If you run into financial
trouble, the first step is to address it immediately. Ignoring the
problem will only make the situation worse. Getting organized and creating
a budget is an excellent start. However, if a more immediate solution
is called for you should:
Contact the creditors whom you are having difficulty paying. Creditors
are often the best source of short-term help and can help you avoid
blemishes on your credit report.
Pay cash.
Set a monthly limit on charging, and keep a written record so you
do not exceed that amount.
Consider a lower interest debt-consolidation loan. If you qualify,
combining your credit card debts into a single, lower-interest secured
loan can make paying your debt down easier and free up money for
living expenses. However, be careful. Consolidating your debt is
only beneficial if the resulting loan terms are favorable and if
you stop using additional credit.
Contact a local certified credit counseling service if you continue
to experience difficulties. The staff at Consumer Credit Counseling
Service (800-388-2227), for example, can help you prioritize your
needs, sort through your debts, and establish a more affordable payment
plan with your creditors.
Avoid scammers who promise to “fix” your credit. Getting back on
your feet takes time. There is no “quick fix” and no one — payday
lenders or loan sharks — can make your debts simply disappear.
Know your rights as a debtor. Bill collectors must follow certain
rules, which are enforced by the Federal Trade Commission (FTC).
Read about these rules on the FTC's Web site: http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm.
Do not take bankruptcy lightly. Filing for bankruptcy has long-term
consequences that you should carefully consider before proceeding.
Bankruptcy is not a quick or casual solution for anyone.
All or some of the products, terms, rates and/or special offers on this page may be location specific and may not be available in every market. Please contact us or visit your local Mercantile office for details.
© 1997-2008 Mercantile Bank