Financial Assist
In today’s difficult economy where fears of job loss, dramatic increases in foreclosure rates, and employee concerns about retirement readiness, employers are increasingly relying on EAPs to help mitigate the negative effects of financial stress in the workplace.
Chestnut Global Partners (CGP) is eager to help your workforce stay focused and performing optimally during this period of financial distress by promoting the Financial and Debt Management component of our EAP service. A variety of services are available to assist your employees with financial concerns including credit counseling, assistance in reducing debt, establishing a budget, and advice to answer your questions about bankruptcy.
Reasons that employees use the Financial Assist service may include, but are not limited to:
-
Information about debt consolidation or credit counseling.
-
Budgeting consultation.
-
General financial planning (due to life events such as divorce, retirement, birth of a child, getting married, or job loss).
-
Bankruptcy consultation.
-
Collection issues (collection calls, foreclosures, imminent repossession).
-
Loan issues (behind on student, car, mortgage-including refinancing options).
-
House buying process.
Covered Services
Toll-Free Information Line: Financial counselors address questions regarding financial issues and follow up by mailing supporting educational materials.
Financial Counseling: Certified Consumer Credit Counselors provide confidential counseling sessions addressing individual’s specific concerns and resulting in a written plan of action.
Debt Management: Certified Consumer Credit Counselors frequently help individuals construct a debt management plan in the course of a counseling session.
Bankruptcy Prevention Unit: Specialists ensure consumers understand the ramifications of bankruptcy filing and help determine other options.
Credit Report Review: Credit reports and credit scores are provided to the employee, and Certified Credit Report Review Specialists are available to clarify the content and discuss options, rights, and responsibilities.
Housing Education: Counselors assist consumers in preparing for home purchase, or in locating options for keeping the home in cases of financial distress.
Identity Theft Solutions
Identity Theft Solutions is part of our EAP offered to employees and their dependents who are victims of identify theft. In association with experts in the credit industry, CGP offers a unique identity theft restoration service for employees.
Once the employee contacts the EAP to request assistance for suspected identity theft, a caseworker is assigned to the employee for individual communication and follow through. After assessing the situation, our caseworker will relieve your employee of all further direct involvement with proper financial institutions and will work to notify appropriate parties on the employee’s behalf to issue fraud alerts, and communicate with creditors to restore the employee’s credit rating. In many cases, issues can be resolved in as little as six weeks.
Identity Theft Sources:
-
Fast and easy credit fundamental to our economy and increases exposure.
-
Internet phishing & spoofing, offshore customer service, and insecure databases.
-
The low risk/high reward nature of the crime (only 7% of cases result in an arrest).
-
Recent studies show that over 50% of ID theft is from family, friends and, co-workers.