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Handling Your Finances

As you start the recovery phase, your focus may shift towards new financial realities. At this point, it can be beneficial to organize your finances and explore assistance opportunities.

Organizing your financial information

To get a full picture of your finances, you will need to find out what you owe.

  • Make a list of your creditors and lenders (think about outstanding credit card debt or loans) and contact them to explain your situation. Creditors might be aware of your situation and have a procedure in place.

  • Get the balance due for each account. Ask about flexible payment arrangements or settlement availability. Creditors and lenders will most likely be willing to work out an arrangement with you that will result in repayment that is possible within your financial picture.

  • Make a list of outstanding debts and money available from grants or low-grant loans and insurance claims to give you a clearer picture of your financial situation.

  • Settle accounts. If possible, or attempt to work out a payment plan with each creditor.

Compiling financial records

Records of your finances will be necessary for short-and long-term planning. They will give an organized view of your financial picture and may also be required when you apply for assistance in the form of both grants and loans.

Replacing documents? Start here:

Your insurance company or agent

  • Policies
  • Contract
  • Recent billing statements
  • Cash value statements

Internal Revenue Service and
Minnesota Department of Revenue

  • Tax records
  • Tax filings

Financial Institutions

  • Account statements
  • Credit reports
  • Loan application records

Credit bureaus

Visit – the only website where you can request free credit reports.

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