What are your thoughts on a company called "Green Path"?
A close relative is participating in a debt “organization/repayment” program; the company’s name is Green Path. I appreciate what they do, however I question what they provide, that we are unable to.
I did research and was unable to find any information on the planners being CFP’s or anything other than just employee’s of the company. It is hard for me to ask this question without it sounding like I’m putting the company down, but please realize I am not.
What can they do that we cannot?
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11 Answers
I’m skeptical of any debt consolidation business. They’re not doing what they do out of any sense of charity.
^ pretty much sums up my thoughts on the subject. controlling debt means controlling those whom have it.
Is this a company that advertises its services? If so, you don’t want them. Any of these debt consolidation companies that are actively seeking customers are in it for a profit. And don’t believe all that 30–50% debt forgiveness crap either. You are right to be skeptical of such businesses.
@The_Compassionate_Heretic you said that so well. I agree with you. It’s like they’re charging you to “help” you save money. GREAT ANSWER.
Thanks
@AstroChuck Wow, all such great answers. I appreciate your input – Thank you. This is a company that advertises its services, and heavily. It’s funny that you say, ”...is in it for profit.” They claim to be “not for profit.” Anymore, when companies make that claim, I think (at times) it is done to gain profit. Do you know what I mean?
Thanks
@AstroChuck I wish I could shake your hand. This is a great article.
Thank you so much.
There are legit debt consolidation companies. Consumer Credit Counseling Services is. You paid a minimal fee for the service (employees need to be paid, supplies need to purchased, phones, internet, ect.) I think it was about $15 a month and could be waived in extreme cases
CCCS, where I briefly worked, was purchased by Money Management and, as far as I know, it still works the same way. It is definitely legit. You get a free consultation and they suggest they best plan for you. I even saw being being sent out having been told that bankruptcy was their best choice. People who brought in their last payments were so proud of themselves!
Check out RipOffReports, as they helped me to find out that a company that charged me over $700 to reduce my credit card APR rate was a scam. You can also call your local BBB and if you are nice about it, they will do a check on the company and give you a report. My local BBB said the company I was in doubt about was given an F rating by their local BBB. The company in question is located in Florida and I am in IL, so it is possible for a local BBB to check out a company, no matter where they are in the US.
I tune out whenever i observe the baseless ‘Green’ trend.
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