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GreenPath Debt Solutions Wins 2010 National Foundation for Credit Counseling Awards for Graduate Client of the Year and Counselor of the Year

(FARMINGTON HILLS, MI – October 15, 2010) GreenPath Debt Solutions recently was recognized by the National Foundation for Credit Counseling (NFCC) with two national awards.

• The 2010 Professional Achievement and Counseling Excellence (PACE) Graduate Client of the Year Award to Carole and Don Carroll of New York, who were counseled by GreenPath in New York City, and; 
  
• The NFCC’s Professional Achievement and Counseling Excellence (PACE) Outstanding Individual Counselor award to GreenPath counselor Ellen Bernards of GreenPath’s Madison, Wisconsin office.

THE CARROLL’S STORY - DETERMINATION

Whereas couples in years past began their marriage starting from scratch, couples today often bring along financial baggage, and those bags are filled with credit cards bills, medical bills, student loan obligations, child payment responsibilities and past due car payments. This was the Carroll’s situation. Even when Don was laid off and out of work, credit still flowed freely, and seeing no other way out, they took advantage of every offer that came their way.

Eventually, the lenders noticed that the balances were growing, and increased the Annual Percentage Rates, making meeting even the minimum monthly payments difficult. Wanting to do the right thing, the Carroll’s juggled their bills, robbing Peter to pay Paul.

Hiding their financial problems from their friends, it became increasingly difficult to bow out of invitations. Routine home and car maintenance had to be put on hold. Understating the obvious, money was tight.

Things got so bad that they considered bankruptcy, but it simply didn’t feel right. They’d always been taught to honor their obligations, and paying their debts was no different. Nonetheless, as well-meaning as they were, life events such as heart surgery kept getting in the way of financial freedom.

Interestingly enough, both Carole and Don worked in the financial services industry. These were people who were supposed to know better. They woke up one day to realize they were $88,000 in debt. APRs that began as single digits had sky-rocketed to above 30 percent. The credit card companies were still contacting them, but this time instead of with a new credit card offer, it was a call wondering when they would get paid. 

Each literally on the verge of a nervous breakdown, the Carrolls cried “uncle” and reached out to GreenPath Debt Solutions for help. They admit to being scared to walk through the door for their appointment, anxious to find a solution, but afraid there might not be one. “We were pleasantly surprised when we discovered that our counselor didn’t judge us, or make us feel bad because of our situation,” Carole commented. “They treated us with respect and honesty.”

“GreenPath organized our finances, and we actually had more cash in hand each month after paying our bills,” said Don. “Three and one-half years later, we’re now both in our 50’s with credit scores that went up over 200 points while paying off our debts through GreenPath; we are now debt free, and intend to remain that way.”

Never knowing what life holds, Don has once again been laid off from his job, but there’s a difference this time. “Knowing you’re debt free makes it much easier to get through each day,” said Carole.

“The Carrolls were ideal clients,” said Jane McNamara, president and CEO of GreenPath Debt Solutions. “They were willing to do what it takes to reach their financial goals, and had a positive attitude throughout the program. It was our pleasure to nominate them as the PACE Graduate Client of the Year, and an honor to have their hard work recognized in this manner.”

A five-minute video highlighting the Carroll’s efforts in paying off their debt is available on GreenPath’s YouTube channel at www.youtube.com/greenpathdebt.  

ELLEN BERNARDS – MESSAGE OF FINANCIAL HOPE

Of more than 3,000 National Foundation for Credit Counseling (NFCC) counselors, only one is selected each year as the counselor of the year. Ellen Bernards is the prime example of how a counselor needs to adapt nowadays in our ever changing economy.

As the financial crisis escalated, so did Bernards’ determination to assist the consumers she serves. She took a very hands-on approach with her clients, particularly when it came to navigating the foreclosure mitigation process. Connecting clients with solutions was her goal.

Recognizing that financial problems cross all ethnic, social and economic backgrounds, Bernards wanted to expand her involvement in the community to be able to spread the message of financial hope. Some examples of her outreach include the following:

• Creating an on-site counseling program with Centro Hispano, a Hispanic community center that helps deliver housing counseling services to predatory lending victims;
• Becoming an active participant, and subsequent co-chair, of the Dane County Foreclosure Prevention Task Force, a coalition of public agencies, nonprofit service providers and other community partners working together to develop sustainable alternatives to foreclosure in Dane County;
• Helping to coordinate services with local entities dedicated to assisting consumers in financial distress. Efforts included organizing an area financial literacy program, working with the county Housing Authority, the City of Madison’s foreclosure mitigation program, a private foundation, area attorneys, local financial institutions, and other area stakeholders; 
• Seeking out & successfully obtaining funding from a private foundation that allowed for additional foreclosure mitigation programming for consumers in the area;
• Assisting Spanish and Hmong individuals with personal finances including budgeting at the Northport Community Learning Center;
• Conducting countless workshops on credit reports and scores, budgeting, credit and housing initiatives with both community and state coalitions;
• Speaking with middle and high school students at the Madison Metropolitan School District on her career path as well as her work as a financial counselor and educator, and
• Participating for the past two years as a committee member for the national initiative, Money Smart Week, where in 2010 she became the committee chair.

“Ellen’s tireless efforts to help others through financial counseling and education set the bar high, and that’s exactly where it should be,” said Jane McNamara, president and CEO of GreenPath Debt Solutions. “Consumers deserve quality credit and housing counseling, and Ellen represents that standard at its best. We are proud to have nominated her for this award, and find her very deserving of the NFCC’s 2010 Outstanding Individual Counselor honor.”

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The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation’s largest and longest-serving national nonprofit credit counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior and build capacity for its members to deliver the highest quality financial education and counseling services. NFCC members annually help four million consumers through more than 800 community-based offices nationwide. For free and affordable confidential advice through a reputable NFCC Member, call1-800-388-2227, (en Español 1-800-682-9832) or visit www.nfcc.org.