debt management program
The Debt Management Program is designed to pay off your debt in 3-5 years, while helping you develop sound financial literacy. Enter your current balance below to see how much you can potentially save.
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Contact GreenPath to conduct a free debt counseling session to see if our debt management plan is right for you.
NOTE: this is an example. It helps you see how a debt management program might help you. IT IS NOT AN ACTUAL QUOTE.
How Your Debt is Calculated
The pay “on your own” example assumes you make only the minimum payment.
We use an interest rate of 24%, the GreenPath Debt Management Plan example shown is based on getting rid of your debt within 5 years.
We use an average interest rate of 8%.
In most cases, we can work with your creditors to reduce your interest rate. Actual interest rates will vary by client and creditor.
Get Started with A Free Debt Counseling Session
Take control of your credit card debt with help from one of the nation’s largest credit counselling agencies. Find sound financial literacy advice from the top experts and get started on your path to independence today. Start your journey now!
Damon of Taylor, MI via ConsumerAffairs.comGreenPath took a lot of my debt, consolidated them, and helped me pay them off. They guided me through the process with no problems.”
Chelsey of Mckinney, TX via ConsumerAffairs.comThe reps were helpful. Got straight to the point and everything handled.
Carl of Bloomfield Hills, MI via ConsumerAffairs.comGreenPath was able to make the changes that I wanted to make. So, it was good for me.
Bryon from Minnesota Via ConsumerAffairs.com“Our counselor checks in on us regularly, keeping us accountable but also motivated. The level of expertise and personalized attention has been eye-opening, to say the least.”
Aurora from Washington Via ConsumerAffairs.com“I thought once I had made the mistake of having too many credit cards my financial life was over. GreenPath helped me immediately take back control and feel better about my situation.”
Carolyn of Aurora, IL via ConsumerAffairs.comI had to use GreenPath twice in my life after debt levels that I was drowning in. The people are helpful and the lower interest rates from companies while I’m in debt management helped too.
How the Debt Management Program Works
The debt management plan consolidates your debt into a single payment. Each payday, you automatically deposit money into your GreenPath account, and we use that money to pay on your behalf. We may be able to arrange lower interest rates and monthly payments with your creditors, so you can pay off debt faster and save money.
Once creditors agree to the program, collection calls stop and you see your balances start to go down.
Why Choose a Debt Management Program
Sometimes, life doesn’t go as planned, but with the help of a debt management plan, you can get back on track and well on your way to planning a better and brighter financial future.
Debt management plans are designed to make your debt manageable while helping you develop sound financial literacy. Through a debt management plan, you will make payments on your original debt, working to improve your credit score in the long run. Consolidate and combine your payments into one, manageable payment to reduce the overwhelming stress of multiple debt payments across credit cards, loans, and more.
Your Client Success Team
Our counselors receive training in compassion and empathy. It’s our job to listen without judgment, and to treat our clients with respect.
Be assured that when you reach out to GreenPath, you will speak with someone who has your interests at heart.
GreenPath is Here for You
You can call us anytime during business hours to reach a debt counselor if you need advice, or to talk to your Client Success Team about your account. You also have instant access to account information through our online debt management portal.
You also have access to a community of others who are paying off their debt in a private online group. This positive community of support is a great place to ask questions, share tips, and get friendly moral support to make your journey easier.
We believe in our clients 1000%, and we love nothing more than seeing you succeed.
Frequently Asked Questions
We work with most creditors throughout the U.S., including banks, credit unions, retailers, medical providers, auto finance and collection agencies.
Debt Management Program set up fees and monthly fees vary based on your state of residence and debt amount. On average, GreenPath clients are charged a one-time enrollment fee of $35 and a $28 monthly fee. This is minimal considering the amount of money our clients typically save in waived late fees, waived over limit fees, and reduced credit card interest charges.
Since the goal of a debt management program is to pay off debt, the credit cards enroll in the program will be closed. Most creditors will usually allow you to continue using one card for emergencies and travel.
GreenPath is a neutral third-party that works in your best interest. Many creditors support our work because they believe it results in positive, long-term outcomes.
GreenPath does not contact the credit bureaus when you enroll in a debt management program. However, because you will be closing lines of credit during the enrollment process, your score may dip. But over time, most people see their scores increase, because they are making payments in-full and on-time each month.
Yes, they are different. Debt management plans are designed to pay off the entire amount you owe in 3 to 5 years. If we can lower your interest rates, the total amount you pay to your credit card company is typically less than if you paid on your own. Debt settlement typically involves requesting credit card companies to forgive a portion of your debt in exchange for a lump sum payment.
Debt management involves renegotiating terms with creditors through a credit counseling agency, offering benefits such as a structured repayment plan and reduced interest rates. Unlike debt consolidation, which combines debts into a single loan, debt management focuses on creating a manageable repayment strategy tailored to your financial situation.
Chat with A Financial Expert
Take control of your credit card debt with help from one of the nation’s largest credit counseling agencies. Find sound financial literacy advice from the top experts and get started on your path to independence today.
Start your journey now!
