Debt Relief
Top Companies in 2024
GreenPath Debt Relief vs JG Wentworth
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- Free consultation
- No minimum debt required
- Available in all 50 states
- A+ BBB rating
- No upfront fees
- Accessible customer service
- A+ BBB rating
- Quick debt repayment
- Fixed setup and monthly fees
- Limited in-person availability
- Restricted credit card use
- Few debt-relief options
- Only available in 30 states
- High program fees
- Additional fees
- No mobile app
GreenPath Financial Wellness has been prominent in the debt relief and financial counseling landscape since its inception in 1962. First opened in Michigan and now operating nationwide, this non-profit organization offers a wide array of services, including debt counseling, a Debt Management Program (DMP), student loan counseling, housing counseling, and bankruptcy counseling, among others. Their team of NFCC-certified counselors provides personalized guidance to people seeking financial stability. Despite having limitations like fixed fees and credit card use restrictions, they maintain industry accreditations and have an A+ rating from the Better Business Bureau (BBB). Read this review to find out whether GreenPath can help you reach your financial goals or not!
Within the last 30+ years, JG Wentworth has imprinted their name among the industry’s most recognizable brands. Their offerings spread across many sectors; among them are their debt relief programs, debt settlement services, and personal loans designed specifically for individuals grappling with debt. They also tailor solutions to individuals wanting to access their structured settlements, annuity payments, and lottery or casino winnings in one lump sum. They have helped over 150,000 clients and facilitated $4 billion in transactions, which pushed them to the forefront of the industry. Operating across 30 states and Washington, DC, they have a policy that prohibits upfront fees and offers a best-price guarantee of $1,000. These affordability measures are reinforced by their A+ rating with the Better Business Bureau (BBB) and memberships in organizations such as the American Association for Debt Resolution (AADR) and the American Fair Credit Council (AFCC), and a certification from the International Association of Professional Debt Arbitrators (IAPDA).
- Credit Score Impact : May impact your credit score
- Average Net Savings : Undisclosed
- BBB Rating : A+
- Fees : Up to $50 one-time setup fee & Up to $75 monthly fee
- Timeframe : 3 to 5 years
- Money-Back Guarantee : False
- Trustpilot Score : 3.7 out of 5
- Customer Experience : Good
- Credit Score Impact : Program may lower score temporarily
- Average Net Savings : Up to 51% of debt
- BBB Rating : A+
- Fees : 18% - 25% of total enrolled debt
- Timeframe : 24-48 months
- Trustpilot Score : 4.8 out of 5
- Customer Experience : Good
- NFCC-certified counselors
- Wide range of financial counseling options
- Over 550 partnerships across the United States
- Extensive educational resources
- 24/7 Virtual Financial Coach
- No upfront fees and free consultation
- High debt-settlement rate
- Wide range of services and third-party partnerships
- Perfect complaint-resolution rate
- Bankruptcy Counseling
- Consolidation Loans—Undisclosed
- Credit Card Debt Relief
- Credit Counseling
- Debt Consolidation—Undisclosed
- Debt Counseling
- Debt Management Plans
- Debt Settlement—Undisclosed
- Loan Refinancing—Undisclosed
- Bankruptcy Counseling—Undisclosed
- Consolidation Loans—Undisclosed
- Credit Card Debt Relief
- Credit Counseling
- Debt Consolidation
- Debt Counseling—Undisclosed
- Debt Management Plans—Undisclosed
- Debt Settlement
- Loan Refinancing—Undisclosed
- Collection Accounts
- Credit Card Debt
- Medical Bills
- Personal Loans
- Private Student Loans
- Professional Bills
- Secured Debts
- Collection Accounts
- Credit Card Debt
- Medical Bills
- Personal Loans
- Private Student Loans
- Professional Bills
- Secured Debts—Undisclosed
- Cash—Undisclosed
- Escrow/Savings Bank Account
- Major Credit Cards—Undisclosed
- Cash—Undisclosed
- Escrow/Savings Bank Account
- Major Credit Cards—Undisclosed
- In Office
- Live Chat
- Mobile Application—Undisclosed
- Phone
- Ticket
- In Office
- Live Chat
- Mobile Application—Undisclosed
- Phone
- Ticket
GreenPath vs. JG Wentworth
GreenPath Financial Wellness and JG Wentworth offer unique advantages tailored to different financial needs when selecting a debt relief provider. GreenPath provides a broad range of financial wellness services with a strong focus on counseling and educational resources. At the same time, JG Wentworth emphasizes debt settlement and debt-buyout services aimed at quick financial relief.
Minimum debt requirements
GreenPath Financial Wellness does not impose a minimum debt requirement, allowing individuals with varying debt levels to access support. Their primary focus is on counseling and debt management for unsecured debts, making their services accessible to a broad audience. In contrast, JG Wentworth requires a minimum of $10,000 in unsecured debt to qualify for their debt relief program. This threshold ensures that their services are aimed at individuals with more substantial debt burdens, particularly those seeking quicker resolutions.
Services and fees
GreenPath Financial Wellness offers various services, including debt counseling, a Debt Management Program (DMP), student loan, and housing counseling. Their DMP assists clients by consolidating debts into one monthly payment with lowered interest rates, typically without upfront fees. However, some services, like bankruptcy and specific housing counseling sessions, have nominal fees. The DMP includes an enrollment fee of around $35 and a monthly fee of $28. GreenPath’s services extend beyond debt management, with a strong focus on financial education, including webinars, workshops, and access to their virtual financial coach, Lea.
On the other hand, JG Wentworth is primarily known for debt settlement, where they negotiate directly with creditors to reduce the total debt. They charge performance-based fees, usually 18% to 25% of the enrolled debt, and only charge clients once the debt is settled. This approach can yield significant savings, although clients may incur additional monthly fees for a special-purpose account required for debt settlements. JG Wentworth also offers lump-sum payments for structured settlements, annuities, and lottery winnings, allowing clients to access funds upfront in certain circumstances.
Customer service
GreenPath is noted for its high accessibility, offering services in all 50 states with online and phone counseling options. They also have physical offices in 22 states for in-person consultations, and their counselors are certified by the National Foundation for Credit Counseling (NFCC). Their comprehensive range of educational resources underscores their commitment to improving clients' overall financial literacy.
Though not available in all states, JG Wentworth holds an A+ rating from the Better Business Bureau (BBB) and offers a robust support system for debt settlement. Their client-focused debt specialists help guide clients through each step of the process, though service availability is limited to around 30 states.
Overall comparison
GreenPath Financial Wellness is ideal for clients seeking a supportive, educational approach to managing debt. Their extensive counseling services, lack of a minimum debt requirement, and lower fees for the DMP can benefit those interested in a long-term debt management plan rather than immediate debt reduction. JG Wentworth, however, stands out for clients with significant debt looking for a more aggressive settlement approach, backed by their performance-based fee model and ability to deliver substantial savings through negotiated reductions.
Ultimately, the choice between GreenPath and JG Wentworth depends on individual financial needs and goals. GreenPath is better suited for individuals seeking financial guidance and gradual debt reduction, while JG Wentworth’s debt settlement services appeal to those prioritizing immediate debt reduction and with higher debt amounts.
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