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Don’t Face Debt Alone
Feeling the fatigue of multiple credit card payments and high interest rates? Staying on top of debt is like trying to keep your head above water. But you are not alone. GreenPath can get you back on track with our Debt Management Program.
How Does a Debt Management Program Work?
Consolidated Payment
Automatically deposit funds into your GreenPath account on your preferred schedule, and we use those funds to pay debts on your behalf.
Lower Interest
GreenPath works directly with creditors across the country to arrange lower interest rates and monthly payments with the goal of helping you save.
Faster Payoff
Our program is designed to help you eliminate debt in 3 to 5 years, giving you the freedom to focus on your future goals.
For People, Not Profit
Money is personal. And we take our work personally here. Whether you want to eliminate debt, create an emergency fund, or invest for the future, your financial goals are our priority. Our experts are certified by the National Foundation for Credit Counseling (NFCC) and ready to meet you exactly where you are.
Average Savings on GreenPath’s Debt Management Program
- $161 in monthly payments
- $25,327 in interest
- Six years faster than paying on your own
Enter your balance below to see your savings.
Take the First Step, It’s Free and 100% Confidential
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 plan 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.
Free Financial Counseling
Money is personal. And we take our work personally here. Whether you want to eliminate debt, create an emergency fund, or invest for the future, your financial goals are our priority. Our experts are certified by the National Foundation for Credit Counseling (NFCC) and ready to meet you exactly where you are.
What to Expect
- Personalized recommendations to lower your interest rates and monthly payments
- Ongoing support and guidance every step of the way
- Free financial education to help you make informed decisions, from budgeting and saving to homebuyer support and retirement planning
Hannah from Minnesota“This process made myself and my husband more confident about our first big purchase – our home!”
Tiffany of Texas“The counselor I worked with was great. He was relatable and non-judgmental… I really want to improve my situation and never end up in this position again. And I feel like that’s actually possible now.”
Cole of Washington“I felt no shame talking to GreenPath about my debt problems. It’s something I’ve always been embarrassed about, and they approached it as ‘hey, it happens. Let’s fix it’ which was a huge relief to me.”
McKenzie of Michigan“GreenPath was actually so much more helpful to me than I anticipated, I’m glad I had the session!! I would recommend it to anyone.”
Michael from MaineI am saving $1,000 per month and will have my bills paid off in 48 months vs over a decade. It was incredibly easy to work with my consultant and a seamless process. I was surprised we got this done so quickly. It is literally life changing.
Angela from WisconsinThis program feels so real compared to all the spam calls I’ve been receiving. Thank you!
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.
Recommended Resources
Free Financial Courses
GreenPath’s LearningLab+ is free. This intuitive online portal offers users easy-to-use financial educational experiences.
Worksheets & Guides
Free budgeting and financial worksheets and guides that help you continue to make progress towards your financial goals.
Budgeting Calculator
Use this calculator to calculate your monthly expenses and income to get an idea of what you have to work with.
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