Financial Counseling

  • March 9, 2021
  • By: P.T. Phan

FINANCIAL COUNSELING

Everyone who calls GreenPath receives a free financial counseling session. GreenPath’s professional counselors will listen respectfully and support you in reviewing your situation. The counselors will give you advice on budgeting and planning.

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Debt Counseling

GreenPath is a national nonprofit focused on financial wellness. Their professional and compassionate financial experts are here to talk with you.

  • Understand your financial situation and goals
  • Explain your debt management options
  • Offer recommendations for how to get out of debt
  • Develop a personalized action plan to meet your goals

The debt counseling session can be conducted over the phone. Or, if you prefer, you can meet with GreenPath in-person at one of their locations. No appointment is necessary for phone sessions. Scheduled appointments are required for in-person meetings.

Each year, GreenPath works with thousands of people to eliminate credit card debt.  Their financial counselors help each person find the solution that works best for them. Depending on your situation, you may qualify for a GreenPath Debt Management Plan.  It’s also possible that GreenPath’s debt advice and money management tools may be all you need to pay your debts on your own.

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Housing Counseling

Do you have questions about housing? Should you buy a home? Refinance your house? What if you can’t make your mortgage payments? Or your credit isn’t great? Or perhaps, you’re trying to stay in your home? For most of us, our home is one of the biggest factors in our budget.

Foreclosure Prevention

If you are behind on your mortgage or having trouble making your house payment, you are not alone. There are steps you can take to get back on top, and GreenPath can help with our foreclosure prevention counseling.

GreenPath’s housing experts will review your situation with you, and explain the options for keeping your home, or getting out of a house you can’t afford. They will provide a foreclosure hotline specifically to assist people with this urgent need.

Homebuyer Counseling

Home buying might seem like a complicated process. GreenPath has affiliated with the Homeownership Preservation Foundation (HPF) to guide and support people’s dreams of homeownership. GreenPath’s counseling and education can help you navigate the process and make informed decisions.

Reverse Mortgage

In order to qualify for a reverse mortgage, you must be at least 62 years of age. The federal government also requires that you participate in a reverse mortgage counseling session with an approved non-profit agency. GreenPath is certified and our reverse mortgage counseling can be completed over the phone or in person. Their goal is to help you understand all your options so you can feel confident and make an informed decision. GreenPath can also assist you if you already have a reverse mortgage and are having trouble paying your property taxes or insurance.

Resources for Renters

Most landlords have their own policies on help and assistance during this time. Check your landlord’s website for the most up to date information and how to reach out for assistance. You can also check Eviction Lab’s website for the latest eviction policy changes or Just Shelter where you can search over 600 organizations across the U.S. working to prevent eviction and reduce family homelessness.

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Student Loan Counseling

The numbers are astonishing. More than 44 million people owe student loans totaling over $1 trillion in student debt combined. On top of that borrowers face confusing repayment options. And if you make the wrong choice it could end up costing you more.

Student Loan Counseling (Free as part of GreenPath’s counseling services)

A certified student loan expert will:

  • Review your student loans to determine payment options based on your loan types.
  • Explore repayment options to make sure you understand the pros and cons of each.
  • Develop a customized plan to help you pay your bills and help you along your financial wellness journey.

Student Loan Enhanced Support ($200)

This enhanced session is especially helpful if you’re in default or having trouble with your loan servicer(s). In addition to receiving all of the Student Loan Counseling Services listed above, a certified student loan expert will:

  • Conduct an in-depth analysis. We’ll guide you in understanding your loan repayment options and do some of the legwork for you.
  • Create a personalized plan to bring your delinquent loans current.
  • Work with you to complete the application process for securing a student loan repayment program, if appropriate.
  • Contact your student loan servicers and be your advocate and partner until a final resolution is reached.
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Credit Score Review

A strong credit score can open doors, but a poor credit score can be a hurdle. Lenders use your credit score to set your interest rate when you borrow money, which affects how much you will pay for the loan. It affects your credit card interest rate and the amount you pay for insurance. Information on your credit report can even be considered when you interview for a job.

Free Credit Report Review

GreenPath’s NFCC-certified credit counselors can walk you through a free review of your credit report.  They will explain how to read the report and how credit scoring works, and answer your questions.  GreenPath will walk you through making a plan for managing your credit score to support your goals.

Access Your Free Credit Report

You can obtain one free credit report per year from each of the three credit bureaus — Experian, Equifax and Trans Union. Access your free reports at www.annualcreditreport.com. The reports are free, but expect to pay about $5 if you want to see your credit score.