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Home / Insurance / Dealing with a financial crisis as it becomes personal – Legal Insurance Blog – 23 September 2021

Dealing with a financial crisis as it becomes personal – Legal Insurance Blog – 23 September 2021



  stockfresh_225020_eraser-and-word-debt_sizeS-300x200 The recovery from the CPOVID-19 pandemic has been a rocky road for some employees. They may have had financial problems before the crisis and had a break with the stimulus checks. Not having to pay apartment rent or school loans may also have helped. But all vacations from financial responsibility disappear. Those with money problems discover that the debts have not disappeared and their financial resources are strained to the breaking point. Bankruptcy and foreclosure can be real threats.

A widespread problem

Those facing bankruptcy are not alone at all. Government assistance only delayed the inevitable for some. A false sense of security caused these people to delay the application, and the break allowed them to acquire even more debt. They now have big problems.

Advice Concerning

An individual can avoid getting into serious financial trouble by getting his house in order. Unfortunately, it starts with the personal budget, and many do not have one. So they live from paycheck to paycheck instead.

Countrywide Pre-Paid Legal Services has a nationwide network of certified financial advisors that address common financial health issues with plan members. A primary tool our advisors will use is budget analysis. A nationwide advisor examines a person's cash flow to see if improvements help. The financial professionals will then work with the plan member to create a working budget.

It means a budget that pays the bills and is flexible enough to respond to a sudden emergency, with little cash left for savings. The advisor relies on experience to give a person advice on how to adjust expenses, pay off credit cards and get rid of unused subscriptions. Tips on how to spend money wisely are all part of the budget analysis process. The result is a money plan that offers the discipline needed to maintain financial stability.

When disaster strikes

The quarantine period was enough time for people to develop some terrible spending habits. Basic advice may not be enough to get them out of trouble. Countrywide has a program that responds to the extra needs. This is our debt management plan.

This is a unique service for those who have deep financial problems. Debt Management Plan goes beyond our primary services. Participants receive additional advice and customer assistance that can help consolidate debt into an affordable repayment plan, including positive development. The plan costs a little extra, but it is well worth the cost.

There are financial wellness plan members for whom there is no alternative but a bankruptcy application. Nationwide can help a person go through this sometimes traumatic experience. We will provide an approved agency that can issue the certificates that show that the course for counseling and / or personal financial health care has been completed in accordance with the Bankruptcy Code. In addition, Countrywide will offer the debtor training course that meets the requirement for financial training in bankruptcy.

Clients are part of the process

Our financial health plan is a product of a partnership between Countrywide and the client. We ask a prospective customer to choose the nationwide alternatives that meet the needs of the customer's staff. Then we provide the administration and membership services for the finished program.

Anxiety and empathy

Financial chaos is very stressful for one person and is shameful for many. We do not want any member of the financial health plan to feel embarrassed or hesitate to seek our help. Our advisors are recruited for financial expertise and emotional intelligence. These money experts do not listen or preach. Each plan member can feel comfortable working with a counselor in an environment that practices social distancing and safety.

Many will have to adapt to a new norm when the dangers of COVID-19 go down in history. We can help make the changes easier to manage. If you have any questions about our services, you are welcome to contact us when it suits you. Countrywide is ready for use!


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