COVID-19 put many homes in financial danger. Expanded furloughs required people to rely on savings and 401
The emotional stress of bankruptcy is numbing. People are ashamed of the situation, but they are also afraid of what will happen next. decisions can lead to even more problems. Young employees are particularly vulnerable to making wrong choices and reaping harsh consequences.
Compassionate employers do not want to see their loyal employees suffer in these circumstances. They want to help their subordinates get out of a big mess, and many times good advice from experts will help. Nationwide prepaid legal services have a financial health program that will offer expert help to those in dire need.
Get the Right Advice
Nationwide has a nationwide network of certified counselors who provide guidance and advice to people in financial need. There is an advisor in all communities where there is a nationwide client, and it is not difficult to book a COVID-secure meeting with one.
Answering questions is an important nationwide service. A financial health plan member may be wondering what type of bankruptcy to apply for: Chapter 7 or Chapter 13? A nationwide advisor will perform a budget analysis to determine the existing financial situation of a plan member and suggest the best option. Some are afraid of what will happen to their credit rating and they will ever be able to qualify for a mortgage or a mortgage. The counselor can even out the troubled water and give hope to a stressed person.
Following the rules
The Bankruptcy Abuse and Consumer Protection Act from 2006 has clear guidelines for everyone who applies for bankruptcy. The person must have six months of credit counseling before they can submit. In addition, the individual must complete a financial management training course before they can file for bankruptcy. Nationwide can help.
We can act as an approved agency issuing completion certificates for counseling and a personal financial instruction course required by the Bankruptcy Code. We can help a plan member follow the code's wishes. We will go even further for the members of the financial health plan.
Our benefits often complement each other. Our debt management plan helps a person avoid many of the pitfalls that lead to bankruptcy. Advice sessions and assistance are underway to lower the debt interest rate, waive fees and consolidate the existing debt into an affordable repayment plan. It costs a little extra, but the help is worth it.
Empathy is an important service
Everyone who is facing bankruptcy is in an increased emotional state. It is embarrassing and frustrating to admit that personal finances are out of control. Nationwide advisors understand a plan member's feelings. They will not lecture a person or preach a sermon. People are treated with courtesy and respect by the whole country. We are looking for solutions to problems.
Development of the economic health plan
Nationwide wants the benefit to be used by all employees. We do not know the demographics of a potential customer's staff. We ask decision makers to choose the economic well-being benefits of the plan. The country will explain each option and answer all questions. We will include the selected benefits in the planning document. We provide member and benefits administration.
People often face bankruptcy due to circumstances beyond their control. Our financial health benefits enable an organization to show compassion that employees appreciate. If you have any questions about the whole country, you are welcome to contact us when it suits you. We welcome every opportunity to explain all our benefits and answer your questions.