Family takes action on debt worries
Lower stress comes after call to debt counseling program
Maybe you know the feeling: the stress of facing a serious financial challenge or the nagging worry of a budget question.
One program is helping people address those concerns.
The Everence-sponsored budget and debt counseling program, coordinated by LSS Financial Counseling Service (Lutheran Social Services of Minnesota), is available to help members get information on a number of financial topics, from how to get out of debt, what to know about loans and credit scores, and assistance with other money-related issues.
Here is one story of the program in action, based on a case study provided by LSS.
The story starts off with a married couple and their three children. We’ll use the names Bob and Jane for the purposes of the story (the actual names are kept confidential).
Bob had to change jobs, which resulted in lower income and increased expenses for the family. In turn, the couple began to put more charges on credits cards, essentially serving as a supplemental income.
So the debt grew and grew. And the anxiety did too.
As a result, Bob and Jane called the toll-free number for the confidential help from a certified credit counselor. As a result of those conversations, according to the LSS report, Bob and Jane decided to work with each other as team. With further advice from their credit counselor, they developed a new budget that gave them a plan to pay down their debts and to build up their savings.
After counseling, Bob and Jane and their children set themselves on a path to stability and lowered the financial stress they were facing, the report said.
It is the kind of outcome Beryl Jantzi looks for. He is the stewardship education director for Everence.
“We know there a lot of factors that can impact one’s finances,” Jantzi said. “Whether it’s a job loss, credit card debt or loan questions, no one should feel shy about taking action for their financial security.”
In the first half of 2011, LSS took nearly 100 calls on the toll-free Everence-designated number, from people seeking answers to financial questions.
It is just one of the ways Everence helps members to grow and thrive.
Learn more about the program today. Visit the budget and debt counseling section of the website.