COVID-19 has been rough on personal finances. All levels of government stepped up to help and their efforts did ease the burden. Support included stimulus checks, interest-free forbearance on federal college loans, and moratoriums on evictions. It has been great, but there is a catch: all of this will end soon.
Headaches on the Horizon
Those interest-free forbearances will stop, and the eviction holidays will be over. We know this was going to happen eventually. Unfortunately, many forgot to plan.
Out of sight does mean out of mind. Those with college debt may have forgotten to pay anything in the past few months. The sense of urgency about monthly rent went away. People readjusted their budgets and did not take these obligations into account. They will soon have to do that.
Being once again required to pay college debt and rent may lead to shock and panic. Some incredibly poor decisions can lead to bankruptcy. Many could see their financial wellness in peril. Employers have an opportunity to offer meaningful assistance.
Employees do not need the gifts of money to get out of the mess. Excellent advice on how to manage personal finances is more important. Countrywide Pre-Paid legal services can give a helping hand to those in trouble. We have a financial wellness program that can solve economic difficulties.
Our Counselors Are Helpers
The foundation of our benefits program is a nationwide network of certified counselors. These professionals deal with common financial challenges all the time. They give the financial wellness advice that a plan member can immediately use. There is a Countrywide counselor in the community of every Countrywide client. Scheduling a meeting that includes social distancing is no problem at all. Our plan members receive priority status.
Counselors Give Direction
There are private companies offering help with student loans. Some are good, but others take advantage of a stressed-out person. The devil is in the clauses of any signed agreement.
A Countrywide counselor knows about these programs. He or she can advise a financial wellness plan member and warn of any drawbacks. Some college loans can be renegotiated. The counselor will coach the individual and how to approach that conversation.
Those with rent issues might need their personal budget redesigned. A Countrywide counselor will do a budget analysis that examines cash flow. A new budget can be created that will ease the rent situation. The counselor will also make suggestions on how to negotiate new rent payments with the landlord.
The Client Role in the Process
Countrywide will never offer a boilerplate financial wellness plan. Each one is tailored to the needs of the client. We explain our benefit options and ask the organization to select which be in the final plan document. Those selections are included in the paperwork. We provide the administration and member services that make a Countrywide financial wellness plan so beneficial.
The Unwritten Benefit
There is a Countrywide quality every organization can expect, and that is empathy. We understand how difficult it can be for anyone to talk about their personal finances. We look to solve problems and not to criticize. We recruit counselors on their ability to sympathize with plan members. We want everyone to feel comfortable when they seek our help. No one is required to wait a long period to get the assistance they urgently need.
Our plan allows an employer to respond to the needs of employees. We know from experience that the help provided is appreciated by that hard worker. If you have any questions about Countrywide benefits, we encourage you to contact us at your convenience. This pandemic will one day be gone, but people will still need help. We can provide some of that.