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Debt Protection
Smart financial security because:
Life is unpredictable. Debt Protection, offered by American First Credit Union, helps relieve the financial stress and worry related to making loan payments when your life takes an unexpected turn.
Here's how Debt Protection works. Your consumer loan payment* will be cancelled without penalty, added interest, or being reported as delinquent to the credit bureau when one of the covered events occur:
- Death - gives your family time to get back on its feet financially.
- Disability - helps you avoid bills piling up as you try to regain your health and earning capacity.
- Involuntary Unemployment - gives you assurance during a difficult time that one of your major monthly expenses will be taken care of as you search for new employment.
- Hospital Stay - provides peace-of-mind and one less worry while you're in the hospital.
Three (3) plans are available. Call 800/ 290-1112 for details.
*Debt protection is available on closed-end consumer loans of 120 months or less, credit cards and open-end consumer loans, including overdraft lines of credit. Debt Protection is not available with first mortgage loans, home equity lines of credit or fixed term second mortgages. "Balloon" payments are only protected as part of an outstanding balance benefit. See our Debt Protection Agreement for complete details.
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