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GreenPath Debt Solutions

8.3

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GreenPath Financial Wellness, formerly known as Greenpath Debt Solutions, is debt management company that offers help with a debt management plan, bankruptcy counseling, housing counseling, and student loans. The primary focus of our review will be on their debt consolidation, or debt counseling service. Of those who enroll in Greenpath’s debt management plan, 50% complete the program, on par with other debt management companies.

Compare to Consolidated Credit: Best in Debt Consolidation

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Pros

No Minimum Debt Requirement

Unlike many debt resolution companies, GreenPath Financial Wellness does not have a minimum debt requirement. This means that anyone in credit card debt can receive debt consolidation support from GreenPath Financial Wellness.

GreenPath Financial Wellness Pricing

For those who are unsure whether or not a debt management program is right for their financial goals, GreenPath Debt offers free financial counseling over the phone.

The company employs NFCC-Certified debt counselors that give free finance and budgeting advice. The company’s debt management plan has a one-time fee and monthly fees.

Costs are determined based on the resident’s state.

  • One-time fee: Average of $35 ($0-$50)
  • Monthly fee: Average of $29 ($0-$75)

GreenPath Financial Wellness will save customers more than they charge though. According to the company’s debt calculator, someone who is $40,000 in debt can save $18,000 and repay debt in 58 months, instead of 170 months. This is achieved with a reduced interest rate (around 8% on credit card debt) and waived late and over-limit fees.

Debt Consolidation companies like GreenPath can negotiate a lower interest rate with lenders. GreenPath Financial Wellness works with most U.S. creditors, including banks, over 500 credit unions, auto finance companies, collection agencies, medical providers, and retailers.

The company’s established relationship with these creditors helps them negotiate lower interest rates and waived fees on behalf of their clients. Unlike debt resolution, when someone signs up for a debt management plan, they agree to pay back their debts in full, just at a lower interest rate.

A lower interest rate helps clients pay back their unsecured debts in full and faster (3-5 years). The service fee for bankruptcy counseling and education may be free or cost up to $50 depending on your financial situation and service method.

If you are seriously considering bankruptcy, GreenPath Financial Wellness can provide counseling. GreenPath Debt can provide you with an educational credit report and score for about $15.

Available Nationwide

GreenPath Financial Wellness’ services are available in all 50 states. Unique to a debt counseling agency is this company’s physical locations in 22 U.S. states: AZ, CA, CO, FL, GA, ID, IL, IN, MI, MT, NE, NV, NH, NJ, NY, OH, OK, PA, TN, TX, WI, WY.

Most debt management company’s do not offer in-person help.

Possible Credit Score Improvement

On its website, GreenPath states that their customer’s credit score may dip when they first enroll in a debt management plan because lines of credit are being cancelled.

However, an individual’s credit report mostly shows payment history and on-time payments. Once a GreenPath customer starts making payments on time and paying off debts, their credit report will reflect this and their score should see positive improvements.

Cons

Poor Customer Reviews

GreenPath Financial Wellness has low customer satisfaction ratings. These reviewers were unsatisfied with the level of customer service and information provided by the company.

While there are only a few GreenPath Financial Wellness reviews below, it’s worth doing more research before selecting GreenPath Financial Wellness for your needs.

Our Recommendation

On the company’s website, GreenPath Debt outlines that they exist to help with financial well-being and provide counseling for those in debt. People who do not qualify for a debt consolidation loan, who struggle to make their monthly payment, and whose debt is 15-50% of their annual income, can benefit from their debt management plan.

Before making a final decision on a debt management company, we recommend speaking to multiple companies.

Most debt management companies provide very similar services, so it’s important to find the right credit counselor and customer service fit.

We recommend comparing GreenPath Financial Wellness to Consolidated Credit.

About GreenPath Financial Wellness

GreenPath Debt Solutions is now GreenPath Financial Wellness.

Debt Counseling and Financial Education

GreenPath provides counseling on a variety of financial situations:
  • Reverse mortgage
  • Homebuyer counseling
  • Foreclosure prevention
  • Credit card debt
  • Debt management
  • Bankruptcy
  • Student loan help
  • Credit report review
  • Simple debt repayment plans

How We Rank

We employ a qualified debt companies expert to rank and review debt companies.

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