Contact our assistance team to discuss your situation and explore the help that may be available. You don’t need to have everything figured out before reaching out.
Contact Our Assistance TeamHaving trouble making your Riegel loan payments? Talk with our team about your circumstances and the options that may apply to your loan.
Discuss Loan Assistance
Assistance is subject to eligibility and review. Contacting us does not change your payment obligations or loan terms.
Explore government resources that may help with essential expenses and other financial needs.
Explore Government ResourcesFind out whether your loan qualifies for Riegel’s Skip-a-Payment program. Review eligibility requirements, fees and how skipping a payment affects your loan before requesting it.
View Skip-a-Payment DetailsFill out the relevant application and provide required documents as specified in your application. A Loss Mitigation Specialist will contact you to begin the process.
RFCU Hardship ApplicationSubmit documents via email, phone, secure portal, or at a branch.
We will review your application within 5 business days and send you a confirmation email. You can expect to hear from us with a decision within 30 days.
Once you’ve reviewed your options, your completed hardship application will remain valid for 14 days. Please reach out to your Loss Mitigation Specialist within this timeframe to communicate your decision.
A point of contact will guide you through the next steps.
Understanding your credit is a useful first step toward your financial goals. Explore your credit information or talk with our lending team about options that may fit your situation.
Learn about your credit score and the factors that affect it with Credit Score by SavvyMoney. Find credit-report resources and guidance to help you plan your next steps.
Explore Credit ToolsHave questions about borrowing while building or rebuilding credit? Our lending team can explain available products, eligibility requirements and how to apply.
Contact Our Lending TeamLoan approval is subject to credit and eligibility requirements.
While we aren’t CPAs or tax accountants, our Personal Bankers and Loss Mitigation Specialists are available to meet with you in person to explore available loan products. These options may offer additional cash or adjustments to your loan terms to provide some financial relief.
Missing a payment can negatively affect your credit report, lower your credit score, and trigger late fees or collection actions. It’s crucial to contact us as soon as possible to prevent further issues.
Yes! We also offer debt consolidation, financial counseling, and other financial management services. Additionally, we encourage you to explore state financial assistance programs and HUD-certified counseling services for additional support.
If you’re unable to make your payments, don’t wait for the situation to worsen. Contact us right away to discuss alternatives like deferring payments, modifying your loan, or exploring other assistance options.
Defaulting on your loan means you’ve missed multiple payments. This can result in collection efforts, negative credit reporting, and possibly repossession or foreclosure. We are committed to working with you to avoid these outcomes through hardship assistance.
If you miss a payment, contact us immediately. The sooner you reach out, the more we can help. Ignoring missed payments can lead to negative credit reporting, late fees, and more serious consequences.
If you are facing financial hardship or have been notified of missed payments, you may have been sent this application to explore available options to assist you.
To apply for hardship assistance, complete the Hardship Assistance Package. This will help us assess your situation and find the best solution for you.
Yes, completing the full application ensures we can assess your situation and recommend the best course of action.
Provide your most recent pay stubs, bank statements, or other documents that reflect your current financial status.
You should provide your unemployment benefits documentation, along with recent bank statements and any other available income sources.
Submit evidence of the income reduction, such as pay stubs, unemployment benefits, or other relevant financial statements.
Provide your tax returns, bank statements, and any other documents that verify your income.
You can submit documents via email, our secure borrower portal, or by visiting a branch.
You will need to submit your business tax returns, proof of income loss, and any relevant business closure documents.
Our team will review your application and reach out to you with the next steps.
It’s important to continue making payments if possible to avoid penalties or damage to your credit. If you can’t make a payment, please contact us immediately.
Foreclosure is a legal process where your lender takes ownership of your property due to non-payment of your mortgage.
Foreclosure can severely impact your credit and may result in the loss of your home.
Yes, it’s still important to contact us as we may be able to help you explore alternatives like loan modification or a short sale.
You can visit resources like consumerfinance.gov for detailed guidance.
No, the assistance we offer, including foreclosure prevention, is at no additional cost.
Yes, late payments and defaults can negatively affect your credit score.
While your credit score may be impacted, it is generally less severe than foreclosure, which has a long-lasting negative impact.
Loan modifications can be reported to credit bureaus, but they are typically seen as a more positive alternative to foreclosure or repossession. We work with you to ensure accurate reporting, and modifications can help prevent severe credit consequences.
Yes! Secured credit cards are a great tool for rebuilding credit. You deposit a sum of money as your credit limit, and by making regular, on-time payments, you can improve your credit score over time.
If you are filing for bankruptcy, your attorney will communicate with us directly. We will not contact you for payments during this time.
If you are experiencing bankruptcy, please know that there are certain laws in place that can assist you. We comply with all state and federal bankruptcy guidelines to help you through this process.
NOTICE: If you are currently entitled to protections under the United States Bankruptcy Code (11 U.S.C. 362; 524) regarding the loan account referenced in this letter, please be advised that THIS IS NOT AN ATTEMPT TO COLLECT OR RECOVER ANY AMOUNTS OWED IN VIOLATION OF THE BANKRUPTCY CODE. This communication is for informational purposes only. Any payments made on a loan discharged in bankruptcy or charged off are voluntary and may be subject to service restrictions by our financial institution.
Riegel Federal Credit Union is committed to following all state and federal regulations regarding debt collection and consumer protection, including:
Ensures fair treatment and protection against abusive collection practices.
Sets standards and guidelines to ensure financial stability and consumer protection.
Prohibits discrimination in lending based on race, color, religion, sex, marital status, age, national origin, or other protected characteristics.
Promotes accuracy, fairness, and privacy of information in the credit reporting system.
For more details, please review our E-Consent Policy and Privacy Policy.
Equal Opportunity Housing Lender: Riegel Federal Credit Union is an equal opportunity housing lender, ensuring access to credit for all members, regardless of background.
Facing financial hardship is never easy, but with the right steps, it is possible to find relief and work towards financial recovery. At Riegel Federal Credit Union, we are committed to helping you through this difficult time by offering practical solutions, compassionate guidance, and ongoing support. Our team is here to help you explore every option, take the necessary steps, and ultimately regain the financial stability you deserve.
Remember, you don’t have to go through this alone. Reach out to us today and let us work together to find a way forward.
For further assistance, please contact our team:
Call: 1-800-635-6829 (Loan Department)
Email: [email protected]
Riegel’s Skip-a-Payment program allows qualified members to “skip” a payment on an eligible loan, and this can be a good option if you need some extra cash for items such as unexpected expenses, vacations and holidays, or just to get back on track when things don’t go as planned. Before you skip your payment, however, it’s important to understand both the benefits and concerns of skipping that payment. The skipped payment doesn’t simply disappear – you’re just changing when you make it. Making informed decisions about your payments can keep you on track financially and help you reach your goals.
You must be in good standing with the Credit Union and maintain a minimum savings balance of $100. New loans must have made six (6) consecutive on-time monthly payments under the original loan terms. All borrowers must sign this request. You can skip up to two (2) months per calendar year per loan. Months skipped may not be consecutive.
You are not eligible if any loan at the Credit Union is delinquent or if you had a 30-day delinquency on any loan within the past six (6) months. A loan is not eligible if payments are being made by disability insurance purchased for the loan at the Credit Union. Real Estate and VISA credit cards are not eligible.
Request for this service must be made seven (7) days before the loan due date. Any request received after the deadline will not be processed. For Questions, please call (908) 995-2326 to speak with a Personal Banker.