Dealing Effectively with a Credit Card Monster – Good Advice is Helpful

stockfresh_1104622_falling-credit-cards_sizeS-300x200The entire economy is still dealing with the coronavirus pandemic. Furloughs are everywhere and unemployment checks do not always cover the bills. Times like these are when people turn to their credit cards. We recognize this is only natural, but it can be dangerous.

An individual’s financial wellness is threatened during times of economic slowdown. Decisions need to be made that can be drastic. Credit cards are sometimes an easy way out. An individual pays the bill on credit and settles the balance later. There is a risk involved.

Credit card balances must be paid and running up a massive debt balance is risky. Some do not realize this, but the interest rates charged on credit cards are double-digit numbers. Failure to pay the minimum on time adds a penalty to the balances. An over-reliance on credit cards may lead to domestic chaos. The financial wellness of a hard-working employee can come crashing down.

Employers want to help their workers through this time of trouble. We submit that one of the best ways of doing this is to help them deal with domestic finances. Countrywide Pre—Paid Legal Services knows how anxiety will make people make bad money decisions. We have a financial wellness program that offers guidance in managing credit card debt.

Help Comes from an Expert

Countrywide makes use of a national network of certified counselors. These are people who work with others on ordinary financial dilemmas. The current economic conditions generate the kind of emergency our certified counselors are ready to deal with. A plan member can set up a face-to-face meeting with a Countrywide counselor easily because that counselor works in the community where our client organization does business.

The first thing that the counselor will do is a budget analysis for the financial wellness plan member. The idea is to find out exactly where the money is going, and how bills can be responsibly managed without resorting to credit. It is possible that some adjustments can be made to lighten the person’s anxiety load. Many times, it only needs a sensible strategy of paying off credit cards. The counselor can suggest minimum payments but also paying off low balances. This can free up money for other obligations.

Tapping into Help

The coronavirus pandemic is unique and there are programs under the CARES Act to help people. Many credit card companies have established special assistance to help those who have been affected by the coronavirus pandemic. There are credit card issuers were cutting their interest rates to make payments more manageable. Not everybody knows about these assistance plans, but our counselors do.

The Countrywide professional will look at a financial wellness plan member’s credit cards and point out which ones have special programs. The counselor will explain how to apply for assistance and what information is necessary. A person may have to negotiate with the credit card company and our counselor will explain how to do it.

Advice with a Gentle Hand

People can get frantic when their financial wellness is threatened. Our counselors have superior people skills and they understand the importance of listening. We are in the business of providing help and not lectures. Anyone will feel comfortable working with our counselor in resolving a credit card emergency.

The Client Is Involved

Our benefit is intended to be used by all employees. Our client tells us what Countrywide benefit options will be part of the program and we provide the administration necessary to get the job done quickly. No one must wait for our help.

Compassionate employers want to help their people during this time of crisis. Countrywide has the benefits needed to deal with the emergency. If you are interested in any of our options, please feel free to contact us at your convenience. We are ready to answer your questions and will respond immediately to your inquiries.