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Home / Insurance / Fear of bankruptcy across the country reduces fear – Blog about legal insurance – September 8, 2020

Fear of bankruptcy across the country reduces fear – Blog about legal insurance – September 8, 2020



  road-to-recovery-300x300 America still faces coronavirus and the consequences of quarantine. People are starting to come back to work, but it always costs to be fired and not get a full salary.

The government has helped with stimulus packages, but these are starting to dry up. Many employees are facing the consequences in recent months. This may include filing for bankruptcy.

Hit by a Tidal Wave

The prospect of bankruptcy is not caused by irresponsible spending Landlords have delayed rent payments and electricity companies have delayed monthly payments or avoided shutting down utilities due to unpaid bills. People in debt have tried to meet the required payments, but it has not been easy. As quarantines continue, creditors begin to demand payment for any outstanding debts. It can create a situation where bankruptcy is the only option.

Financial well-being can be hit hard by bankruptcy applications. Anyone with a jumbo college loan may feel that there is nothing but bankruptcy. Lack of understanding of bankruptcy law creates decisions that can be harmful. Bankruptcy assistance is something that many employees would appreciate as the information helps maintain financial well-being. Nationwide prepaid legal services have a program that will offer guidance for dealing with bankruptcy.

Compliance with the law

A nationwide network of certified advisors provides financial well-being to nationwide plan members. Their service is in addition to the material we offer for plan members who are facing bankruptcy.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 stipulates that a person must complete a training course in financial management before filing for bankruptcy. Nationwide has a training course for debtors that will provide the law's training requirements. A member of the financial health plan will be provided with an approved authority that will issue certificates showing that counseling and instructions are complete.

But there is still hope for a person facing the prospect of a bankruptcy court. The nationwide counselor is there to help a person avoid that day. Advisors will provide advice on how to restructure loans and reduce outstanding interest rates on various liabilities. Someone who has student loans will find the nationwide counselor will offer options for research that reduce the burden.

Creditors want their money and a limited budget can not provide them. Our advisors will conduct a budget analysis to restructure your personal finances. It may take some tweaking, but it is possible to squeeze a few extra dollars out of the budget. The extra money is available to help pay off debts and meet monthly obligations.

Please be assured that our advisors will go the extra mile for members of the financial health plan. This is not an easy time for a person and our counselors appreciate anxiety. We treat all our plan members with courtesy and respect. The intention is not to preach sermons, but to provide requested help.

The employer is involved

The nationwide financial health plan is tailored to meet a customer's needs. Decision-makers participate in the structuring of a plan that meets the needs of all employees. We explain our options and let the managers decide. We will then prepare the plan and deliver the administrative work that guarantees fast service. No one in a nationwide plan must wait for the necessary help.

It will not be easy to get out of furloughs and quarantines. The new standard will place some burdens on the shoulders of hard-working people. Nationwide has committed to reducing the burden on these people. We can help your citizens financially adapt to a new reality.

If you have any questions about our services, please contact us when it suits you. Countrywide offers a service that all employees will appreciate. We welcome your inquiry and will answer your questions.


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