Lavell Saved $22,600 on
GreenPath's Debt Management Plan
Meet Lavell, who as a young person received an unexpected piece of mail: a credit card he didn’t apply for. Flush with generosity, Lavell used the credit card to give gifts to his loved ones. What started as a gesture of kindness snowballed into a mountain of debt. Â
Get control of your debt. Team with the trusted national nonprofit GreenPath.
The Journey to
Becoming Debt Free
GreenPath’s debt management services helped Lavell pay debt off faster, save money on fees and interest, and make progress toward financial fitness.
Lavell’s journey to becoming debt free has a few twists and turns. Read about how he navigates his way to financial freedom below.
Lavell’s journey to becoming debt free has a few twists and turns. Read about how he navigates his way to financial freedom below.
Financial Challenges
Lavell was burdened with $49,572 in outstanding credit card debt.
- After maxing out five consumer credit cards, Lavell could not make a dent in paying off debt.
- As zero-interest offers expired, most of Lavell’s monthly income went to debt payoff instead of building savings for the future.
- A coworker suggested working with the national nonprofit GreenPath to get a handle on debt.
On the Debt Management Plan
Savings
- Over the length of his Debt Management Plan, Lavell paid off $49,572 in credit card debt.
- Debt management plans typically lower credit card interest rates from an average of 24% to an average of 8%.2
- Lavell saved about $22,600 in interest charges1 through the GreenPath Debt Management Plan vs. paying only the minimum payments by himself.
Successful Outcomes
- Lavell reduced stress and worry and used the experience as a foundation for building financially healthy habits.
- With guidance from GreenPath, Lavell built his first-ever spending plan.
- A realistic and sustainable debt management plan allowed Lavell to build up savings for future goals – such as starting a family.
The Beauty of a
Debt Management Plan
With interest rates skyrocketing, it’s a good time to get a handle on debt.
In Lavell’s case and in thousands of others, the beauty of a GreenPath debt management plan is that it can be customized to fit most situations and can help with many types of debt and creditors.
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.
As the story highlights, Lavell was able to choose a debt payoff strategy that worked for his situation.
Write Your Own Success Story
If you recognize any of the situations from Lavell’s story, consider a Debt Management Plan which helps you pay off unsecured debt in 3 to 5 years.
GreenPath works with your creditors to bring your accounts current, lower interest rates, and eliminate fees. More of your payment goes toward reducing your account balance and you save money on interest.
As a national nonprofit, GreenPath structured the debt management plan program to improve and promote financial wellness. It’s part of our mission… looking out for the best interest of our clients.
So think about the benefits of a debt management plan. It’s a good chance to learn new spending habits, stay on track to pay off debt and build a healthy financial life.
Ready to talk to someone? Get a free counseling session.
In 2021, $237 million was paid toward debt on GreenPath’s Debt Management Plan.
GreenPath has an A+ rating with the Better Business Bureau.
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