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    Michigan Couple Refuses To Walk Away From Debt Obligations

    PRWeb – Wed, Sep 28, 2011

    Repays $92,000 through NFCC Member Agency Debt Management Plan

    Washington, DC (PRWEB) September 28, 2011

    Many people would walk away from $92,000 in credit card debt, but not Jerry and Sue Bailey, who were recently honored with the National Foundation for Credit Counseling (NFCC) Professional Achievement and Counseling Excellence (PACE) Clients of the Year Award.

    The Jackson, Michigan couple was committed to repaying their debt obligations in spite of having had bankruptcy recommended to them. Searching for alternatives, their credit union suggested they reach out to NFCC Member Agency, GreenPath Debt Solutions. Taking that advice began their journey to financial freedom.

    Their financial troubles were deep, with debt spread across 17 credit cards. Jerry recalls, “It was so easy to get a credit card with a high limit at the time.” Jerry was the bill-payer in the family, leaving Sue unaware of their financial situation until Jerry suggested to her that she put the costs associated with their daughter’s wedding reception on credit. Looking back, she realizes that should have been a clue.

    The Baileys will be the first to admit that paying off that much debt was a struggle, but a struggle worth making. While on the Debt Management Program, Sue required surgery, putting her off work for six months. Jerry had already taken on a second job, and they had sold one car because they could not afford to repair it, so the loss of Sue’s income seemed insurmountable. It was at that point that GreenPath again came to the rescue by contacting their creditors who agreed to once more adjust their payments until Sue could return to work.

    A stunned Jerry commented, “When we received the call from GreenPath informing us that our debts were paid in full, I had to ask them to repeat it. We are forever in debt to GreenPath, but that’s a kind of debt we don’t mind.”

    “We are so pleased that the Bailey’s were chosen as the 2011 NFCC PACE Clients of the Year,” said Jane McNamara, president and CEO for GreenPath Debt Solutions. “With GreenPath’s help, they developed and implemented a plan to successfully pay off their debts. They are a shining example of how hard work and perseverance can really pay off through a debt management program. “

    Special thanks to Citi and Experian for their contributions in support of the PACE Award program.

    The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation’s largest and longest serving national nonprofit credit counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services. NFCC Members annually help more than three million consumers through close to 800 community-based offices nationwide. For free and affordable confidential advice through a reputable NFCC Member, call (800) 388-2227, (en Español (800) 682-9832) or visit http://www.nfcc.org. Visit us on Facebook: http://www.facebook.com/NFCCDebtAdvice, on Twitter: twitter.com/NFCCDebtAdvice, on YouTube: http://www.YouTube.com/NFCC09 and our blog: http://financialeducation.nfcc.org/.

    Contact:


    Gail Cunningham


    (202) 677-4355 – direct


    (240) 672-2700 – cell


    gcunningham(at)nfcc(dot)org

    ###

    Gail Cunningham
    National Foundation for Credit Counseling
    940-691-6322
    Email Information


     

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