GreenPath Highlights Available Debt Relief Options as Interest Rate Conversations Continue

FARMINGTON HILLS, Mich., Jan. 20, 2026 /PRNewswire/ -- Credit card interest rates have drawn media attention following a recent proposal to cap credit card interest rates at 10% for one year. Organizations and analysts across the financial and banking industries have noted that this would have significant, unintended consequences for consumers and the broader economy. However, lower interest rates are available today for people who are struggling with credit card debt.

GreenPath Financial Wellness — a national nonprofit with a 65-year history of helping people repay credit card debt and bounce back from financial hardships — helped more than 65,000 people repay nearly $300 million in debt at lower interest rates in 2025.

"If you're struggling with credit card debt, you don't have to wait or hope for the possibility of a new law to help you," said Kristen Holt, President and CEO. "The good news is that you have options today. Most people are unaware that interest rates even lower than 10% are available right now through GreenPath's Debt Management Program."

A client on GreenPath's Debt Management Program (DMP) sees an average APR of 6.6% and a savings of more than $29,000 in reduced interest charges over the course of their program. A DMP takes multiple bills and turns them into one simple, usually reduced monthly payment. It can also eliminate penalty fees and bring delinquent accounts current to stop collection activity. It provides a clear, achievable timeline for paying off credit card debt. Most clients complete their program in 3 to 5 years.

Many Americans are struggling to make ends meet. GreenPath recently found that 33% of people who received financial counseling had a monthly budget deficit of $500 or more. And this percentage has been steadily growing over the past three years. While a 10% interest rate cap may appear beneficial, experts note that it would limit access to credit cards for people across the country and impact their ability to pay bills, cover necessary expenses, and withstand emergencies.

Carrying substantial credit card debt is expensive even at 10% interest, and the emotional burden can be just as hefty. For many people, credit card debt is a major source of stress and anxiety, and the struggle of repayment can hinder long-term financial goals such as buying a home or planning for a family.

"We strive to give people hope and guidance in times of uncertainty," remarked Holt. "Don't wait and see if there's a storm or a rainbow waiting for you on the other side of possible law changes. Help is available right now. It only takes one step to put yourself on a path towards financial stability and success."

About GreenPath Financial Wellness

GreenPath Financial Wellness is a trusted, national nonprofit on a mission to empower people to lead financially healthy lives. Founded in 1961 and headquartered in Farmington Hills, Michigan, GreenPath offers free financial counseling with NFCC- and HUD- certified experts. If you're struggling to budget, manage debt, or reach your financial goals, you're not alone. Contact GreenPath at (866) 648-8122 or visit www.greenpath.com.

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Communications Manager
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SOURCE GreenPath Financial Wellness