We have been fortunate with the stimulus checks, but we have undoubtedly seen the last of them. Many used the money to pay down credit card debt, but there are still people in credit trouble thanks to the pandemic.
Coping with Costs
Consumers got used to delivery service during the quarantines. Instead of going to the supermarket for groceries, the supermarket came to the consumer. Delivery cars and trucks became frequent visitors. People used credit, not cash, to pay for the services. They are now in the habit of shopping on the Internet and paying for the delivery with plastic.
College debt holidays are going away soon. These bills must be paid, and personal budgets must be re-calculated to pay the cost. Financial wellness can be taking a beating.
COVID-19 tossed many household budgets into the breeze. Quarantined workers tried hard to pay mortgages and paid what they could on medical bills and other expenses. The strain is too much for some, and they face bankruptcy and foreclosure. The debt tragedy about to unfold affects numerous households.
Employers cannot sit on the sidelines. Financial wellness woes lead to decisions that increase personal stress and reduce productivity. Employees need a benefit to help them build a better monetary base. Countrywide Pre-Paid Legal Services helps drive away the dark financial clouds.
Taking Up the Challenge
Employees have different needs, and our financial wellness plan responds to the challenge, particularly for those who are in dire straits.
Bankruptcy law requires a person to take financial counseling before a bankruptcy filing. Countrywide’s network of certified counselors helps people meet that requirement. We will go on step further for these distressed workers.
Countrywide counselors conduct a budget analysis to figure out a plan member’s problems. The counselor may conclude an individual’s situation requires firm action. That financial professional may recommend the plan member enroll in our Debt Management Plan. This service provides additional counseling and other activities to restore fiscal normalcy. It costs a little bit more, but the benefit can prevent a bankruptcy filing from happening.
Folks in severe financial difficulty are ordinarily in panic mode. They are anxious about losing their homes and having their credit ratings destroyed. Countrywide knows distress is at heightened levels and works to calm the waters.
Our counselors will advise against bad decisions. They will suggest payment plans for medical bills instead of paying everything upfront. Our counselors will explore forgiveness programs for college debt and warn of the problems created by forbearance. We know that debt can be managed sensibly, and we can show a financial wellness plan member how this can be done.
Empathy and understanding matter when advising someone in debt trouble. We assure our prospective clients that respect and courtesy are standard Countrywide qualities. Our counselors have superior listening skills. They will not lecture but instead work to soothe stressed nerves. Countrywide counselors also practice social distancing, and everyone feels safe in a meeting with one of our experts.
Countrywide is committed to helping prevent bankruptcy or foreclosure filings. We also offer benefits that help with less urgent financial challenges. Employers know what their people need. Countrywide will explain all our financial wellness options. The clients select which will be in the finalized plan. We furnish the administrative service that guarantees efficient delivery of services.
Employees appreciate Countrywide benefits because these services show how much management cares about personal situations. Better retention rates, a greater sense of loyalty, and increased productivity are benefits the employer will experience wherever there is a Countrywide plan.
If you have any questions about our financial wellness services, please feel free to contact us at your convenience. We are happy to talk with you about our services and welcome the opportunity for a meeting.