Tammy & Family Saved
About $70,000 in Interest Charges
Tammy and her family knew they needed help in managing overwhelming credit card debt. Read below to see how they pared down their outstanding credit card debt and saved $70,000 in interest charges.
Looking to get a handle on your debt?
Finding Her Superpower
What starts out as a challenge becomes a turning point for the growing family.
Tammy finds out that one of her superpowers is managing their budget and together, they pay down their debt.
Financial Challenges
Tammy and her family were overwhelmed with $49,000 in outstanding credit card debt.
- The family did not have a clear picture of their total debt burden, and experienced stress watching debt levels increase each month.
- It was difficult to keep up with monthly household expenses, as well as credit card balances.
- Tammy and her husband looked to the national nonprofit GreenPath for options to get a handle on their debt.
On the Debt Management Plan
Savings
- With the Debt Management Plan, Tammy and her family paid off $49,000 in credit card debt in 51 months.
- The family saved about $70,000 in interest charges1 through the GreenPath Debt Management Plan2 vs. paying only the minimum payments by themselves.
- The family saved about $70,000 in interest charges1 through the GreenPath Debt Management Plan2 vs. paying only the minimum payments by themselves.
- Client survey show high satisfaction, sense of freedom from debt.
Successful Outcomes
- The plan helped reduce stress and worry, and served as a turning point for the family.
- GreenPath worked with the family to find a plan that was both realistic and sustainable for their specific financial situation.
- With guidance from GreenPath, Tammy built the family’s first-ever working budget.
Why a Debt Management Plan Works
Our clients have similar stories to that of Tammy and her family. They have shared a few main reasons why a debt management plan works for them:
- The structure — Often people come to us saying they have been trying for years to get their debt paid off, to no avail. Because we make it easy for clients to pay their debts, structure is key! A personalized payment schedule is created, based on schedules that work with pay frequencies and bill due dates. It’s a “set it and forget it” situation. Our clients realize quickly how easy it is to let us handle it for them.
- Cost savings — Since we have relationships with virtually all major creditors, often clients take advantage of reduced interest rates, fees, and monthly payments. Depending on the amount of debt, this can add up to thousands of dollars saved in fees and payments when all is said and done.
- The peace of mind — Starting on a GreenPath plan is often the first step in a journey of becoming a financially healthy person. 91% of people served by GreenPath feel better prepared to handle their finances. In addition, 93% of people served by GreenPath have reduced financial stress.
- Teaming with a trusted resource — Knowing an organization like GreenPath has been in business for 60 years, is highly rated, nationally renowned and recognized for being innovative and customer-centric is working on your behalf every day allows our clients to stop worrying about a big issue. We’ve heard from people that they sleep better at night knowing there is a plan in place.
Inspired by Tammy's Story? Take the Next Step
Our caring, compassionate counselors will guide you through a process to assess your financial situation, understand your goals, and create an action plan to work for you.
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