Final answer:
If a customer moves while having an Empower Plus Loan, they should notify the lender to update their information and review the terms of their loan agreement. The lender will provide assistance and outline any necessary steps or changes due to the relocation.
Step-by-step explanation:
When contemplating what actions to take if a customer moves for the Empower Plus Loan, it is essential to understand the company's policy on loan servicing and relocation. Typically, financial institutions offering loans such as the Empower Plus Loan have certain procedures in place to handle a situation where a borrower relocates. It might involve updating the contact information, reassessing the loan terms based on the new residence location, and ensuring that any regulatory or legal requirements are met in the new jurisdiction.
If the customer has moved, they should immediately inform the lender to ensure that all communication regarding the loan continues without interruption. The lender can then guide them through the necessary steps to update their account information and discuss any implications that the move might have on their loan agreement.
While individual circumstances can vary, it can impact interest rates, repayment schedules, or even the eligibility to continue the loan, depending on the specifics of the move and the lender's policies. Professional advice or assistance from a customer service representative from the loan provider will be highly beneficial in navigating this process.