Being irresponsible is not always the reason a person gets into debt trouble. A more compelling explanation is that sizable debt can result from bad decisions. When confronted with extensive obligations, what a person does can make the situation more serious.
Panic Makes Things Worse
Medical bills will raise a person’s blood pressure quickly. Someone who receives an invoice for a surgery or medical treatment could be looking at a cost of thousands of dollars. An immediate reaction might be to pay everything off at once, which is not a particularly good payment strategy. Others may look at their college loan obligations and think that forbearance is the only way out of a mess. Trust us; it is not. Credit cards must be paid on time, but that does not mean they have to be paid off at once.
Most poor debt decisions are created by a sense of panic and general ignorance of what to do. Folks can place financial wellness in danger by making the wrong choice. Often people need some guidance and sound advice to correct things. Countrywide Pre-Paid Legal Services wants to help people manage debt obligations better. We have a financial wellness benefit that will assist employees.
The Wisdom of Experienced Professionals
Everybody has lots of advice, but opinions offered near the water cooler are not always the best. Anyone facing difficulty with a hefty credit card balance needs more than a guess to get out of trouble. Countrywide has a nationwide network of certified counselors who provide financial wellness advice. These seasoned veterans better understand debt management than the person in the next cubicle.
Our counselors will perform a budget analysis of a plan member’s finances to address the situation. Suggestions such as refinancing, paying a little more than the minimum balances, or devising a payment plan with the creditor are some ideas that a Countrywide counselor can offer.
These pearls of wisdom are solutions that have worked for other people and can work for a financial wellness plan member.
The Debt Management Plan
It is a significant feature of our benefit. The Debt Management Plan comes to the rescue of any plan member in severe trouble. This assistance plus package provides more intensive counseling for a person and seeks to avoid bankruptcy or foreclosure. We will admit upfront that the Debt Management Plan will cost a little bit more than the rest of our benefits. Nevertheless, this is a lifeline to somebody whose finances are about to submerge.
What the Client Does to Help
Empathetic employers want to help their subordinates get out of financial difficulty. We know that not all our service options will fit the needs of a prospective client’s workforce. We want to design a benefit that everyone in the organization will use. We call on the prospective clients’ management to help do this.
Countrywide will sit down with a prospective client’s decision-makers and discuss all our benefits. We are ready to answer all questions each service can do to help. Getting people out of financial trouble is one of the priority issues we explain. The client can then review everything and decide what services are going to be part of their financial wellness plans. We will provide the member services and the administration of all the benefits. Our services come with the human touch. All our counselors are recruited for their people skills and their money expertise. Every plan member is treated with respect.
Solving debt management problems reduces stress, and we sincerely want to do that. If you have any questions about our financial wellness benefits, we invite you to contact us at your earliest convenience. Please feel free to ask any questions about what we can do to help your people.