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Here's a thing I haven't talked about recently.
I got myself into credit card debt. Not a ridiculous amount for maybe the average person, but an amount I was never going to be able to pay off on my own.
I got myself into credit card debt. Not a ridiculous amount for maybe the average person, but an amount I was never going to be able to pay off on my own.
Especially because even after I realized what I'd done and stopped using my credit cards, at least one of the creditors actually lowered my limit, making the amount I was in debt was higher than my limit.
I was getting deeper into debt even though I was paying the minimum.
I was getting deeper into debt even though I was paying the minimum.
So a couple of years ago, with the help of my skills trainer, I started looking into options.
Because I couldn't see spending nearly $300 a month out of the $700-ish I was getting from SSI & SSDI on credit card debt for the foreseeable.
Because I couldn't see spending nearly $300 a month out of the $700-ish I was getting from SSI & SSDI on credit card debt for the foreseeable.
My credit union couldn't help me because my debt load was too high relative to my income.
Which yes, entirely accurate.
Which yes, entirely accurate.
Eventually, I hooked up with an outfit called Greenpath.
I went for a meeting with someone who looked at my income and my debts and helped me negotiate with my creditors to come up with a plan to pay off all my debt in five years.
I went for a meeting with someone who looked at my income and my debts and helped me negotiate with my creditors to come up with a plan to pay off all my debt in five years.
The initial thought was that it would mean "tightening my belt" a bit but actually the final negotiated amount I've had to pay monthly is LESS than what I was paying the three different creditors total before that.
I mean, my credit is pretty awful now because of this whole mess, which is... a thing.
And I'm looking at being entirely paid off in 2022.
And I'm looking at being entirely paid off in 2022.
So once you get the program started, Greenpath takes out the funds from your checking or whatever to cover paying all your creditors on the same day every month and puts it into a holding account.
Then when those bills come due Greenpath disburses the money to the creditors.
Then when those bills come due Greenpath disburses the money to the creditors.
One part of the plan is that once one creditor gets paid off, Greenpath will take what you were paying to that creditor from your monthly payment and apply it to your next smallest creditor.
Meaning that creditor will get paid down faster.
Also they negotiate with creditors to freeze or eliminate or reduce and freeze interest on the debt.
Also they negotiate with creditors to freeze or eliminate or reduce and freeze interest on the debt.
They also close the lines of credit so you can't use them anymore which I thought was obvious but I didn't say it so I should.
Anyway. I talked about this at the time but I haven't talked about it since.
Greenpath is an option for managing debt and it's the one I used.
Greenpath is an option for managing debt and it's the one I used.
This is not to endorse the program or try to get you to use it or anything.
I'm just saying if you feel trapped by debt and can't see a way out on your own, there are people and orgs you can talk to. And, in the US, Greenpath is one of them.
I'm just saying if you feel trapped by debt and can't see a way out on your own, there are people and orgs you can talk to. And, in the US, Greenpath is one of them.
