Enormous debt balances may come on gradually. People get used to paying for everything, including groceries, with credit cards. It doesn’t take long for the purchases and the double-digit interest charged to create a sizable balance of credit card debt. An emergency medical bill could do the same damage. Financial wellness is placed in danger as the total amount owed goes to five or even six figures.
Anxiety Leads to Panic
Owing large amounts of money creates anxiety and then panic as the figures grow. The person wants to be fiscally responsible but gets overwhelmed by the monthly payments. Mistakes such as forgetting a payment or not paying anything destroys credit and leads to wage garnishments. Countrywide Pre-Paid Legal Services wants to help folks get out of financial quicksand. Our Financial Wellness Plan will assist a person in ending a terrible nightmare.
Handling a Financial Wellness Crisis
Anyone in financial distress needs special attention. Countrywide provides services that address the issue of staggering debt.
The Countrywide Debt Management Plan is recommended by the counselors if it appears that a plan members finances are veering out of control. The Debt Management Plan offers ongoing counseling and customer assistance for the individual and the plan can be used to lower interest repayments, waive fees, and consolidate existing debt into an affordable payment plan. This service will cost a little bit more, but it is worthwhile for some people.
Bankruptcy in the United States is covered by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The law requires debtors who file for bankruptcy to obtain credit counseling within six months of filing. The financial management structure course must be completed before the debt is discharged in bankruptcy. Countrywide can provide the counseling and instruction. Moreover, a certificate of completion of counseling or personal financial management structure is provided. Successful completion enables a person to move forward with bankruptcy.
Bankruptcy is, of course, a very serious option. Countrywide education and counseling can help a person avoid having to do that. The advice that an experienced and certified counselor offers are lifelines to an individual who is struggling to keep his or her head above water.
Our counselors offer standard assistance for all Financial Wellness Plan members. Countrywide counselors will perform a budget analysis for a Plan member. It helps that person make better spending decisions based on a clear understanding of cash flow. An enormous debt might need to be paid quickly. Countrywide can do an asset inventory to discover those assets (e.g. Stocks, life insurance policies, collectibles, etc.) which can be sold or cashed-out to get the required amount of money. Selling the house or taking out a second mortgage might not be necessary
Employer Input Is Requested
Ordinary financial challenges must also be addressed in a good benefits plan. We have financial wellness options to help anyone deal with common fiscal issues. We ask clients to choose what Countrywide options they want in their plan and more employees can thus be able to use the benefits, because decision-makers know what is needed better than we do.
Countrywide Offers Great Benefits
If financial wellness is threatened, Countrywide has services to deal with the danger. We can help with college debt and pressing medical bills. Our counselors will help when members take control of their credit cards and make monthly payments without resorting to drastic action. Countrywide group legal plan members receive priority attention from our counselors no one waits long for required help.
If you are interested in the Countrywide program and have some questions, please feel free to contact us at your convenience. We want to be able to explain what we have that can help your employees. We look forward to speaking with you and telling you more about us.