NFCC PRESS RELEASE
For Immediate Release
September 22, 2011
Contact: Gail Cunningham
(202) 677-4355 – direct
(240) 672-2700 – cell
gcunningham@nfcc.org
MICHIGAN COUPLE REFUSES TO WALK AWAY
FROM DEBT OBLIGATIONS
Repays $92,000 through Debt Management Plan
Washington, DC – Many people would walk away from $92,000 in credit card debt, but not Jerry and Sue Bailey, who were recently honored with the National Foundation for Credit Counseling (NFCC) Professional Achievement and Counseling Excellence (PACE) Clients of the Year Award.
The Jackson, Michigan couple was committed to repaying their debt obligations in spite of having had bankruptcy recommended to them. Searching for alternatives, their credit union suggested they reach out to NFCC Member Agency, GreenPath Debt Solutions. Taking that advice began their journey to financial freedom.
Their financial troubles were deep, with debt spread across 17 credit cards. Jerry recalls, “It was so easy to get a credit card with a high limit at the time.” Jerry was the bill-payer in the family, leaving Sue unaware of their financial situation until Jerry suggested to her that she put the costs associated with their daughter’s wedding reception on credit. Looking back, she realizes that should have been a clue.
The Baileys will be the first to admit that paying off that much debt was a struggle, but a struggle worth making. While on the Debt Management Program, Sue required surgery, putting her off work for six months. Jerry had already taken on a second job, and they had sold one car because they could not afford to repair it, so the loss of Sue’s income seemed insurmountable. It was at that point that GreenPath again came to the rescue by contacting their creditors who agreed to once more adjust their payments until Sue could return to work.
A stunned Jerry commented, “When we received the call from GreenPath informing us that our debts were paid in full, I had to ask them to repeat it. We are forever in debt to GreenPath, but that’s a kind of debt we don’t mind.”
“We are so pleased that the Bailey’s were chosen as the 2011 NFCC PACE Clients of the Year,” said Jane McNamara, president and CEO for GreenPath Debt Solutions. “With GreenPath’s help, they developed and implemented a plan to successfully pay off their debts. They are a shining example of how hard work and perseverance can really pay off through a debt management program. “
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GreenPath Debt Solutions is a nationwide, non-profit financial organization that assists consumers with credit card debt, housing debt and bankruptcy concerns. Their customized services and attainable solutions have been helping people achieve their financial goals since 1961. Headquartered in Farmington Hills, Michigan, GreenPath operates more than 50 full-time branch offices in Michigan, New York, New Hampshire, Colorado, Florida, Texas, Vermont, Illinois, Indiana, Wisconsin, Arizona and Wyoming. GreenPath also delivers licensed services throughout the United States over the Internet and telephone. GreenPath is a member of the National Foundation for Credit Counseling (NFCC) and is accredited by the Council on Accreditation (COA). For more information, visit www.greenpath.org.