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GreenPath Debt Solutions

GreenPath Debt Solutions holds over 50 years in providing debt and financial services. The company charges a low monthly fee up to $75.

Our Score
5.6
User Score
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Our Score
5.6
User Score
--
Rank this Company

Ratings Breakdown

Price

average price, range is $0 to $75
Up to $75

Up-Front Fees

setup & activation fees
Up to $50

Free Consultation

is one included?
Yes

Time in Business

total # of years
56 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0

This Review is maintained by Chase Sagum

Review Last Updated: January 2, 2017

GreenPath Debt Solutions offers many types of financial assistance. Some of these services include debt counseling, housing services, student services, and bankruptcy counseling. GreenPath, originally Michigan Credit Union League, has been going strong in the financial sector since 1961. In 2005 at the height of the housing market, GreenPath became one of the first companies to be recognized by the U.S. Department of Justice for providing bankruptcy counseling. 

Rank Chart
Monthly Price
Accreditations
Review

#1

Up to $69
FCAA & ISO

#2

$10-$40
AFCC & IAPDA

#3

$10 - $49
ISO

#7
green path debt solutions logo

Up to $75
NFCC

The Good

  • Available in all 50 states
  • Accredited and members of NFCC, COA, AICCCA
  • Educational resources

Free Consultation

GreenPath Debt Solutions does not follow the pack when it comes to financial services. While some companies are limited to credit card debt and unsecured loans, GreenPath goes farther than that. They believe that understanding individual situations is important. A consultation will help determine the best plan of action to getting out of debt and may render a recommendation to take part in a debt management program.

Educational Resources

The company provides a plethora of online educational resources and tools giving consumers the power of financial literacy at their fingertips. Newsletters and their “Write on the Money” blog gives consumers an added boost, and if that’s not enough, they offer over ten calculators to help provide insight to all things financial.

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The Bad

  • Additional fees may apply
  • Lack of transparency
  • Not ISO certified

Additional Fees

We enjoy several aspects this company has brought to the table, although there are a few drawbacks worth considering. For example, only the debt counseling is free. All other services are charged a nominal fee. Additionally, consumers must obtain a credit report, which is not free, unless of course the customer hasn’t participated in the federally regulated allotment of one free credit report per year. GreenPath charges for credit reports and all three must be obtained.

No Available Interest Rate Information

It is great to see companies that will provide information on what kinds of interest rates they can secure for their customers. Unfortunately, GreenPath does not provide any information on what the average interest rates are for their customers. This information would be helpful to potential customers.

No Refund Information

Many companies in the industry offer a money-back guarantee or some type of refund. GreenPath either does not provide a refund or does not provide any information on their refund policy. This makes it hard for us to recommend the company when other companies offer this service.

Want to see the top rated Debt Consolidation Companies? Click Here

The Bottom Line

GreenPath, Inc doesn’t claim to be anything it’s not. All of the information about costs and services are laid out on the website for anyone to browse through. They have 50 years of industry experience, proving they satisfactorily helped thousands of clients dig their way to financial freedom. These counselors do not receive any type of compensation or commission for enrolling clients for services. Consumers can rest assured they will not be pressured into anything that wouldn’t be beneficial for their financial situation. They work for you, not your creditors.

We recommend at least taking advantage of the free online educational resources and credit counseling. Over 220,000 people have been successfully helped by GreenPath and that number grows every day. Your financial freedom is within your reach. We recommend fully doing your research to see if GreenPath Debt Solutions is right for you.

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About GreenPath Debt Solutions

For over 50 years GreenPath Debt Solutions has been providing customers with quality financial services. GreenPath Debt Solutions offers debt management plans, free debt counseling, housing services, student loan counseling, financial education, and bankruptcy counseling. GreenPath provides customers with a debt management plan that allows customers to consolidate their debt into one monthly payment while also reducing the interest rates.

Price

General/credit counseling is free of charge.

Cost for a debt management program varies depending on your state of residence and debt amount. There is a one-time set up fee between $0 and $50. Monthly fees range from $0 to $75.

Housing services are free of charge.

Credit reports are free of charge. You can obtain your own report at www.AnnualCreditReport.com, although there is a fee for the credit score, or GreenPath can provide you with an educational credit report with score for about $15.

Reverse mortgage can be at no cost, depending on available counseling grant funds. If no funds are available, you can expect to pay between $99 to $125.

Bankruptcy can also be free of charge, or cost up to $50 depending on your financial situation and service method.

Mobile Friendly

GreenPath has a mobile-specific website. There is not a downloadable app at this time. GreenPath has made it easy to stay connected via social media through Facebook, Twitter, YouTube, and LinkedIn.

Loan Types

GreenPath’s debt experts work out debt repayment plans with all of your creditors and help you manage all of your debts, not just your credit card debt.  Most competitors will handle only credit cards and unsecured debts.  That model does not work as well as GreenPath’s approach because it addresses only part of your financial situation.

Free Consultation

Some services are free of charge such as credit counseling, housing services, student services, and credit reports. Other services may have a fee including debt management, reverse mortgage counseling, and bankruptcy counseling and education. These fees vary depending on your financial situation, if there are grant funds available, and what state you reside in. Consultation to help you understand your options is free.

Cancellation Policy/Money-Back Guarantee

The first step for any client is to complete a free, no-obligation financial assessment with one of our certified financial counselors. The counselor would review your entire situation by going over the budget you created, customizing an action plan, and reviewing all available options. If you are not pleased in any way, you can quit at any time. There is no obligation.

Time in Business

GreenPath was established in 1961 as a Michigan Credit Union League. In 1967, it became a nonprofit corporation. 2001 was when the name was changed to GreenPath, Inc. Since business has started, many offices have been opened across the country.

Up-Front Fees

Many services GreenPath offers are free. Costs for debt management plan consist of a one-time set up fee that ranges from $0 to $50, and monthly fees that range from $0 to $75 (this is based on your state of residence and debt amount). The fee for reverse mortgage counseling may range from $99 to $125. The service fee for bankruptcy counseling and education may be free or cost up to $50 depending on your financial situation and service method.

Customer Support Quality

Some other companies reward employees with a commission for each person they sign up on a debt management or debt settlement program.  GreenPath does not.  GreenPath counselors are certified, degreed professionals.  More than 98 percent have earned at least a Bachelor’s degree. They understand that bad things sometimes happen to good people.  They will always treat you with care and respect, and will never be judgmental.  You can always contact GreenPath whenever you have a question or concern.  There is even an option to speak to a representative with live chat online. You can rest assured that your information will not be shared with anyone without your authorization.  Customer satisfaction ratings and GreenPath reviews speak for themselves.

Contact Information

Address:

36500 Corporate Dr.

Farmington Hills, MI 48331

Email:

[email protected]

Phone:

800-550-1961 or 888-776-6735

Hours:

Monday- Thursday from 8am- 10pm EST

Friday from 8am- 7pm EST

Saturday from 9am- 6pm EST

Services Available

Services available through GreenPath Debt Solutions include debt counseling, housing services, debt management, student services, credit report review, and bankruptcy counseling.

Debt Education

On the website, a client can access articles on varying topics of debt education. Also on the website, one can find a credit card debt calculator. This is a great visual to show total interest and payments, and how many months it will take to pay it off on your own or using GreenPath debt management plan. A monthly newsletter is provided to give useful debt education tips and advice. On the first and third Wednesday of each month, a financial webinar is presented to those who have registered. GreenPath University is another excellent tool. This online resource includes financial education, videos, e-courses and games.

Minimum Debt Accepted

There is not a minimum amount of debt needed to have a debt management program with GreenPath.

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Poll

  • When looking for a debt settlement company, which of these two aspects is most important to you?
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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Our Score
5.6
User Score
--
Rank this Company

Ratings Breakdown

Price

average price, range is $0 to $75
Up to $75

Up-Front Fees

setup & activation fees
Up to $50

Free Consultation

is one included?
Yes

Time in Business

total # of years
56 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0
Our Score
9.4
User Score
9.6
Rank this Company

Ratings Breakdown

Price

monthly price range
Up to $69

Up-Front Fees

setup & activation fees
Up to $49

Free Consultation

is one included?
Yes

Time in Business

total # of years
24 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
609