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You are now leaving the Independent Bank website.

Linked web pages are not under the control of Independent Bank, its affiliates or subsidiaries. Be aware the privacy policy of the site to which you are going may differ from that of Independent Bank. Independent Bank provides external links as a convenience and is not responsible for the content, accessibility, or security of any linked web page.

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COVID-19 & Consumer Loans

 

We’re committed to helping our customers affected by COVID-19

We realize you have concerns about loss of work or reduced income from business closures or restrictions created by local health guidelines.

What should you do:

  • Focus on the safety of you and your loved ones.
  • Update your contact information, especially your cell phone number and email address, by contacting our Digital Branch at 800.355.0641.

What you should know:

  • You should continue to make mortgage or other loan payments if you can.
  • If you are experiencing a financial hardship and are unable to make payments on your mortgage or loan due to COVID-19, we can offer a temporary hardship payment forbearance.
  • We will reduce or suspend the payments for 90 days, with the possibility of further extensions as the new federal requirements become clear.
  • You may also renew making full monthly payments at any time if you no longer need the forbearance.
  • You will need to contact us to review the options for bringing your account current before the end of the forbearance period.
  • We will review mortgage or other assistance programs with you to help you bring your payments up to date before the end of the forbearance period.

How to contact us for personalized assistance:

Response Time:

Due to the extraordinary events impacting our communities and the high volume of customer inquiries across Independent Bank, it may take 3-4 business days to receive our response.

Automatic Payments Notice:

If you have established automatic payments for your account, and your next payment due date is within the next 10 business days, please email loanservicing@ibcp.com (Monday-Friday: 8 am -5 pm) to stop the payment. Otherwise, your automatic payment may process on the next scheduled due date before we are able to process your request.

 

Frequently Asked Questions

What does forbearance mean?
For 90 days you won’t be charged a late fee if you miss a payment. We may contact you during the 90 ...
  • For 90 days you won’t be charged a late fee if you miss a payment.
  • We may contact you during the 90 day forbearance period to check on you and to discuss next steps.
  • During the forbearance period, we won’t report any missed late payments to the credit bureau.
  • If you miss any payments during this 90 day period, you will be obligated to pay the amount missed in full at the end of the forbearance period. We know this may be difficult, so if you’re unable to make a lump-sum payment, we’ll discuss other options with you.
Why can’t you just add all of the payments at the end?
With forbearance, you can miss payments for 90 days; however, missed payments are due at the end of ...
  • With forbearance, you can miss payments for 90 days; however, missed payments are due at the end of the 90 day period. If you’re not able to make the payment at the end of your forbearance period, we’ll contact you to discuss mortgage assistance options to help you bring your payments up to date.
  • We will work with you to confirm your ongoing income and make sure the payment is affordable after the forbearance period.
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