Frequently Asked Questions
Where are you located?
GreenPath's administrative headquarters is located in Farmington Hills, Michigan. We are licensed to serve consumers throughout the United States via phone counseling. Or, if you prefer to meet with a counselor in person, we have local offices located in Michigan, New York, Wisconsin, Illinois and Arizona. Visit our locations page to view addresses for each of our branch offices.
How long does a counseling session take?
Plan on spending 60 to 90 minutes meeting with a counselor. Please make sure you have your most recent pay stubs and current creditor statements.
Do you offer debt settlement?
GreenPath is not a debt settlement or debt arbitration company. A debt settlement company will attempt to negotiate a settlement offer with your creditor after you pay them enough money to make a reasonable settlement.
These companies do a lot of advertising and often make huge promises about how easy it is to free yourself from a mountain of debt. Many ads make it difficult to distinguish debt settlement from credit counseling. They make claims like "reduce what you owe by up to 70%," or "be completely debt free in as little as 12 months."
Does this sound too good to be true? The truth is that these companies can't do anything for you that you can't do for yourself. These for-profit companies are largely unregulated and charge significant fees --- most of which are collected up front regardless of whether you settle any debt at all. Some major credit card companies refuse to even work with debt settlement companies.
Can I keep some of my credit card accounts open during a debt management program?
If you need to keep one card for emergency or business purposes, you and your counselor can discuss the situation and evaluate your options. We can normally work something out.
What are the fees for your service?
There is no charge for a debt counseling session. We do charge a fee for our debt management program, which varies by your state of residence. A one-time setup fee ranges from $0 to $50, and the monthly fee ranges from $0 to $50. Your counselor will thoroughly explain all your options and applicable fees during your counseling session.
How will your debt management program affect my credit report?
The impact on your credit report may be positive or negative, depending on your situation and the specific creditors involved. GreenPath does not report any information to credit bureaus. Only your creditors report information, and there is a wide variance in the way they do so. We recommend that you take a long-term approach. Focus on resolving your financial situation and your credit report will improve over time.
Paying bills on time is the single most important contributor to a good credit score. Any late payments are viewed negatively by lenders, and remain on your credit report for 7 years.
If you still have questions about GreenPath's services or wish to schedule an appointment, please call us at 1-800-550-1961. Or, if you want us to contact you, please complete the contact us form.