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.
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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 a Debt Management Program Works
Stress-Free Payment
Say goodbye to frustrating statement juggling each month. Automatically deposit funds into your GreenPath account on your preferred schedule, and we use those funds to pay debts on your behalf.
Lower Interest Rates
GreenPath proudly partners with nearly 600 financial institutions across the country. Through these partnerships, we arrange lower interest rates and monthly payments. Translation? You save money and pay off debt faster.
End to Collection Calls
Once creditors agree to GreenPath’s Debt Management Program, collection calls drop and so do your balances. You’re officially on the path toward financial wellness!
Why Choose a Debt Management Program?
Because Debt is Expensive: Today’s cost of living is too high. Inflation and high interest rates make meaningful progress on credit card debt payoff feel impossible. GreenPath’s Debt Management Program is designed to save you interest so you save money.
Because Debt is Lonely: People don’t often discuss personal debt. As a result, you might feel alone…but you’re not. Your Debt Management Program connects you to a community of certified financial experts and other DMP clients eager to show up and support you.
Because Debt is a Barrier: What could you achieve without credit card debt standing in your way? Saving for retirement? A down payment on a home? Starting a business? Join now and take the first step toward making your financial goals a reality.
800-550-1961877-337-3399
LAST YEAR, 8,998 PEOPLE PAID OFF THEIR DEBT IN FULL THROUGH THE DEBT MANAGEMENT PROGRAM
Lavell Saved $22,600
“I had so many questions, so many doubts. He [the counselor] offered some amazing solutions.”
Tammy Finds Her Superpower
“It was freeing to have a plan, especially with such supportive counselors.”
Debt is Personal to John
“Debt is personal. It’s not just about finances. It’s about overall well-being.”
Ongoing Support
When you enroll in GreenPath’s Debt Management Program, your dedicated Client Success Team will answer your questions, cheer you on, and keep you updated through your client portal. But that’s not where support ends.
You’ll also gain exclusive access to a private community of other Debt Management Program clients where you can:
- Ask any DMP-related questions you have.
- Celebrate real-time payoff progress and money milestones.
- Find motivation by connecting with others on a similar journey.
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.
Get started with a free debt counseling consultation. Chat with an expert!
When you call, you’ll talk to one of our NFCC-certified credit and debt- counselors. We’ll review your financial situation together, and make a personalized plan to get your finances back on track. We’ll explain the options and give you the information you need to make a choice that works for you.
800-550-1961877-337-3399