To boost your credit and fulfill your dreams, pay off your credit cards.
Prices continue to rise and with it the pressure on families' budgets, especially for food and gasoline. A recent NFCC and Wells Fargo survey shows that 26% of Americans are more concerned with household expenses than they were 12 months ago.
This is because prices have risen and daily expenses are higher. Many people have had to use their credit cards a little more than usual. A recent study shows that car loan, credit card, and student loan debts rose to $4.25 trillion (Federal Reserve Bank of New York).
This means that knowing how to manage debt is more important today than ever.
This is where a trusted institution like GreenPath can help. We specialize in counseling and creating a plan with you to get out of debt and save.
Our Debt Management Program will help you pay off your debt faster, lowering interest and reducing fees. Call today.
833-753-1024
- First things first . The expenses that have priority are the following. Housing, medicine, food, household expenses, child care and transportation.
- Think that your Budget is not fixed . Compare your monthly earnings with your monthly expenses. Whether your income has gone up, down, or has stayed the same. Use pen and paper to keep track of your balance.
- Seek federal, state and local assistance . Most states are slowly activating the American Rescue Plan Act (ARPA) which gives money from the Homeowners Assistance Fund (HAF). This will help families who are behind or have not been able to make your house payment and other housing-related expenses as a result of COVID 19.
- Contact your local housing office for more information.
- Contact your lenders , your credit cards and your landlord . The faster the better, so you can have a clear view of your options. When you contact GreenPath, we can help you talk with lenders together.
- Have some savings for an emergency . Sometimes things in life happen unexpectedly. It is advisable to put your savings in automatic mode. Even a small amount can add up over time.
- Contact your student loan lenders . So you can update your information. You can ask if you are a candidate for a payment plan that depends on your income or that your debt is paid by utility service. Finally, explore with your employer whether it is possible to contribute to your student loans with your check.
- Choose a debt-paying strategy that works for you and your family . Consider that GreenPath's Debt Management Plan will help you pay off your debts in 3-5 years. GreenPath works with your lenders to bring accounts current, lower your interest rate, and eliminate fees, so that more of your payment goes to debt, not interest.
Despite rising prices and uncertainty, our clients tell us that talking to us reduces their stress.
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