Is a Debt Management Plan Right for You?

• Become debt-free faster. Take years off your payback timeline. GreenPath debt management clients typically become debt-free in three to five years or less.
• Save money. The total amount you pay to eliminate your debt through a DMP is less than what it would clost if you were to pay the minimum payment each month. Typically people pay a similar monthly amount on a DMP as they would on their own – and often we can help you reduce that payment. And, lower interest and fees make it go a lot farther. You could save thousands of dollarssave thousands of dollars with a DMP.
• Stress less. Knowing you have a plan and a team to help you stick to it can bring a huge sense of relief. On average, the stress caused by personal finances fell by 13% in six months after clients engaged in a GreenPath counseling session.
• Simplify life. One payment from you, we take care of the rest. You can even automate it. If you’re more hands on, you have access to your info 24/7 in our client portal

Understanding what a DMP will mean in real life is also an important factor in deciding if a DMP is right for you.

• Be ready for your credit score to drop, and then likely rise again over time. Your credit score may drop when your credit accounts are closed. Typically, however, by the end of a DMP, your credit score rebounds because you will have reduced your debt load and you will have a history of on-time payments.
• Be ready to live life without credit cards. The credit accounts in your DMP will be closed. It can be a significant adjustment to eliminate credit cards. Our credit counselors will work with you to create a monthly plan so that you know how much money you have to spend on your essentials.
• Be ready to change spending habits to stick to a new budget. Your DMP will maximize your budget for paying off debt. This probably means you’ll need to make adjustments in other areas, giving up non-essentials while you focus on eliminating debt.

Making the choice to pay off your debt isn’t easy, but it can change your life. We’ve supported hundreds of thousands of people to make this choice and achieve their goal.

Enrolling in a personalized debt management plan offered by GreenPath, one of the most reputable national nonprofit agencies available to you, can be a pivotal step toward reclaiming financial stability.

GreenPath’s debt management plan provides a structured approach to debt repayment, tailored to your financial situation.