A Debt Management Success Story

Matthew & Kendall
Paid Off $20,000+ in Debt

Teaming with GreenPath, Matthew and Kendall saved an estimated $5,000 in interest by working with GreenPath to pay off more than $11,000 in credit card debt. In all they paid off more than $20,000 in combined credit card debt, past due medical debt and other collections debt. Read their story below.

Success Stories Matt Kendall Quote

Looking to get a handle on your debt?

After Years of Income
Challenges

Matthew and Kendall are a young couple that live in Lincoln, Nebraska. After a few years of income challenges, and putting most purchases on credit cards, their debt levels were uncomfortably high.

The couple found their way to GreenPath Financial Wellness to better manage credit card debt.

The couple found their way to GreenPath Financial Wellness to better manage credit card debt.

Facing A Second Bankruptcy
They Looked to GreenPath for Guidance

Faced with the prospect of a second bankruptcy, Matthew and Kendall decided to take a different route to handle their credit card debt with a GreenPath Debt Management Plan.  They also looked to GreenPath for guidance to manage past due medical debt and other debt which the original lenders had passed to debt collections agencies.

Faced with the prospect of a second bankruptcy, Matthew and Kendall decided to take a different route to handle their credit card debt with a GreenPath Debt Management Plan.  They also looked to GreenPath for guidance to manage past due medical debt and other debt which the original lenders had passed to debt collections agencies.

Everyday Expenses

The couple was challenged to manage everyday expenses on top of debt payments on more than $11,000 in high interest credit card debt.

Past Due

Additional past due debt of $8,967 was in collections, impacting financial health and credit score.

Stressed

Both Matthew and Kendall experienced stress due to low credit score and poor credit history.

The Debt Management Plan

Savings

  • The couple paid off $11,297 in credit card debt in 40 months with GreenPath’s Debt Management Plan.
  • The debt management plan helped the couple save an estimated $5,000 in credit card interest1.
  • With guidance from GreenPath, Matthew and Kendall also paid off another $8,967 in collections debt.
  • In all, the couple paid off a total of $20,264 in debt, improving their financial health and wellness.

Successful Outcomes

  • GreenPath’s Debt Management Plan and budgeting support helped reduce stress.
  • The couple designed new habits to automate their bill repayment.
  • Newly debt-free, they are making home improvements to accommodate their special needs son.

Who Benefits from a
Debt Management Plan?

Like Matthew and Kendall, many of our finances are marked with a growing level of uncertainty – especially as interest rates rise and other financial challenges loom on the horizon. In the face of unexpected changes in income, many households turn to consumer credit cards to take care of daily expenses.

If that’s the case, it could be helpful to learn more about a debt management plan.

If that’s the case, it could be helpful to learn more about a debt management plan.

Whether it’s debt counseling with GreenPath, or exploring a debt management plan, having options is always a good thing!

A debt management plan is designed for anyone with a desire to pay their debt back and become debt-free.

This includes people who have several consumer credit cards and each month make monthly minimum payments; people watching their hard-earned income go to high-interest rates; and anyone who might be experiencing collection calls.

In some cases, it can be helpful to explore signs that a debt management plan can be of use.

The beauty of a debt management plan is that it can be customized to fit most situations and can help with many types of debt and creditors.

As this story summarized above illustrates, managing debt is becoming even more important than ever.

This is where a trusted, national nonprofit like GreenPath comes in. To reduce stress, it’s helpful to get advice and an action plan to get you on track to pay off debt and build a healthy financial life.

Our trusted debt management services help you pay debt off faster, save money on fees and interest, and make progress toward financial fitness.

Greenpath Counselor

Take the Next Step

For more than 60 years, GreenPath has provided debt management plans; financial, housing and student loan counseling; and financial coaching.

In 2021, $237 million was paid toward debt on GreenPath’s Debt Management Plan.
GreenPath has an A+ rating with the Better Business Bureau.

1. ACTUAL INTEREST RATES VARY BY CLIENT, CREDITOR. INDIVIDUAL RESULTS MAY VARY. FEES APPLY AND VARY BY STATE.