Debt Consolidation -- Choose Your Credit Counselor CarefullyWritten by Charles Essmeier
Recently passed by Congress, Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 will require people who are filing for bankruptcy to first undergo mandatory credit counseling.
This is probably not a bad idea; after all, many people with problem debt could probably benefit from credit counseling. A good credit counselor can assist clients with problem debts in establishing a repayment schedule, creating a personal budget, and learning how to avoid debt and credit problems in future.
The problem is that with estimated one and a half million additional people seeking credit counseling each year, there will undoubtedly be more credit "counselors" entering market, and many of them are only interested in reaping huge profits at expense of their clients. There are already a number of credit counseling firms working in marketplace that advertise themselves as "nonprofit", when they actually are closely tied to for-profit debt consolidation firms. These agencies will strongly encourage their clients to consolidate debt through their partner company, and result may be a long-term loan for client that doesn't help them at all, but reaps huge profits for consolidation firm. How can someone who is genuinely seeking legitimate, helpful credit counseling choose a counseling agency wisely?
*Counselors should listen. If they start pitching a solution to you during first fifteen minutes you are there, you should be suspicious. A credit counselor should be gathering information about you in order to determine how best to help you. They can’t possibly know how to help if they don’t understand your problem. Unless, of course, they don’t care about your problem and only want to sell generic “solutions.”
Benefits Tailored To The Changing Needs Of CanadiansWritten by Anna Dorbyk
Increasingly, traditional benefits packages are disappearing from Canadian business landscape. As face of Canadian workforce continually changes, companies are finding it necessary to address these shifts. The reality for many employers is that it is becoming more and more difficult to recruit workers if they are not able to offer an attractive benefits package. It is not simply enough to offer affordable health insurance; there must also be option to choose. Today, many Canadians opt for a ‘cafeteria-style’ benefits package that offers them freedom to design a customized benefits plan.
Although flexible benefits, commonly referred to as ‘cafeteria-style’, have been around for more than 20 years, they are only now gaining in popularity. Employers and workers alike are attracted to flexibility they offer. They allow individuals to choose from a menu of benefits what best suits their needs. By designing a unique combination of health care coverage, employees are able to provide themselves with a feeling of security and protection. These benefits can be offered by an employer in their employee benefits package, or can be bought through a private health insurance provider in form of supplemental health coverage.