GreenPath Debt Management Plans - GP Partners



GreenPath Debt Management PlansConcession, Proposal, and Fair Share InformationBank Name: __________________________ GreenPath maintains a database of information that our counselors use when working with your customers. Please fill out each section below email it to your Partner Relations Specialist. You may also email it to the Partner Relations group email at partnerrelations@ or fax it to 248-553-9092. If you have any questions regarding Debt Management Plan proposals, payments, invoices for fair share, or a change of address for payments, please contact our Creditor Relations Department: Creditor Relations DepartmentM-F 8:00am-5:00pm ESTPh: 248-994-8710 Fax: 248-994-8716CreditorRelations@. This document was completed by:Signature: __________________________ Date: ______________________General Debt Management Plan ConcessionsThe Debt Management Plan (DMP) is an optional service provided to your customers through GreenPath. Customers who are having difficulty paying bills or staying current on credit cards may sign up for this valuable service. While working with your customers, we will contact their creditors to negotiate concessions and/or work out loan repayment plans. If a customer includes bank debt on their DMP, we will send you a proposal for those debts. Typically, creditors will agree to concessions and you also have the opportunity to make concessions, or changes to terms, for customers who include your debt on a DMP. Common concessions include a lower APR, automatically reaging accounts, and waiving of late and over-limit fees. Below, please indicate what general concessions you would be willing to offer your customers. We will send you a proposal for any customer debts. To familiarize yourself, a sample proposal is included with this packet. We appreciate a response to each proposal so that we can post concessions for the client appropriately in our system. If we do not receive a response we will assume acceptance of the proposal. A response to each proposal allows you to communicate any exceptions to the concessions listed below.Credit Cards:We will accept a minimum payment of $_______ or _______% of the balance.We will re-age and bring accounts current after ________ payments.We will reduce interest to ______.We will reduce interest after ______ payments.We will waive late fees. Yes _____ No_____We will waive over-limit fees. Yes _____ No _____center0Eligibility Requirements/Exceptions/Notes: 00Eligibility Requirements/Exceptions/Notes: Unsecured/LOC:We will accept a minimum payment of $_______ or _______% of the balance.We will re-age and bring accounts current after ________ payments.We will reduce interest to ______.We will reduce interest after ______ payments.We will waive late fees. Yes _____ No_____We will waive over-limit fees. Yes _____ No _____14287526670Eligibility Requirements/Exceptions/Notes: 00Eligibility Requirements/Exceptions/Notes: Secured:We will accept a minimum payment of $_______ or _______% of the balance.We will re-age and bring accounts current after ________ payments.We will reduce interest to ______.We will reduce interest after ______ payments.We will waive late fees. Yes _____ No_____We will waive over-limit fees. Yes _____ No _____85725169545Eligibility Requirements/Exceptions/Notes: 00Eligibility Requirements/Exceptions/Notes: Debt Management Plan Proposal and Payment InformationShould a GreenPath counselor wish to discuss a customer’s situation with you as they are assessing their options, they should contact: Name (print): __________________________ Title: _______________________Phone: __________________________ Email: _______________________Is this the same contact person for an ongoing Debt Management Plan questions? If no:Name (print): __________________________ Title: _______________________Phone: __________________________ Email: _______________________At times, we will need to contact the bank to update a customer’s account balance or get general account information to validate our records. Is there an automated system or phone number our representatives can contact for this account information? For efficiency, it’s best to have an option to do this without the client on the line.Phone: __________________________ Where should we send Payments and Proposals for Debt Management Plans?Name (print): __________________________ Title: _______________________Phone: __________________________ Email: _______________________Fax (proposals – preferred method): __________________________Address: ________________________________________________________________________________________________________________________________Electronic Payment OptionFor faster payments from GreenPath, do you utilize RPPS for electronic payments and/or electronic documents? If you are unsure, your accounting department should be able to confirm. If so, please list your 10 digit billers and the debt types they can be used for below:10 Digit Biller: ___________________________________Debt types: ______________________________________Fair Share InformationMany creditors make a “fair-share” contribution to GreenPath based on a percentage of the funds remitted under a Debt Management Program. We work with all creditors regardless of whether or not they make contributions to us. However, as a non-profit company, creditor contributions enable GreenPath to continue to offer the highest quality counseling available. Should you choose to contribute, please indicate your contribution preferences below.Please indicate what debts you will contribute fair share on:All Debt ____ Credit Cards ____ Unsecured ____ Secured ____Is an accepted proposal required for fair share? Yes ____ No____Please deduct a ____% contribution from each payment sent to my financial institution.Please invoice ____% of the total payments sent to my financial institution each quarter. We will contribute flat amount of $________ on a: Monthly basis _____ Annual basis _____-2762252762253279228115088Proposed Payment Amount 00Proposed Payment Amount 24909521865500-704850165735See page 7 of this document for the breakdown of what’s included in categories listed here00See page 7 of this document for the breakdown of what’s included in categories listed hereleft354720046192971735300right14102Other unsecured creditors on the DMP, and their proposed payment.00Other unsecured creditors on the DMP, and their proposed payment.-472971261240On the proposal, the client’s budget is displayed. In the budget, “Expense” categories indicate a combination of sub-expense categories. Combined sub-expense category examples:Expense: Housing – may include:MortgageHome EquityAssociation DuesProperty TaxesRentLot RentSpecial HandlingHomeowner’s InsuranceRenter’s Insurance Expense: Transportation – may include:Car LeaseCar LoanGasolineAuto InsuranceAuto MaintenanceParkingTollsPublic TransportationExpense: Miscellaneous – may include: ClothingEducationEntertainmentPayments for debts that are not on the DMP (that are outside of a listed Expense)Non-unsecured debt on the DMP (i.e. payday loan, collection accounts)Other ................
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