Debt management firm to partner in financial management for gig economy workers

FARMINGTON HILLS—GreenPath Financial Wellness, a nonprofit that provides financial counseling and debt management services, is partnering with the nonprofit iPSE-U.S., the Association of Independent Workers, to offer financial counseling, debt management, financial education, portable benefits and business support programs for the nation’s 40 million-plus  independent workers and newly unemployed looking to enter the gig-economy.

Both GreenPath and iPSE-U.S. are committed to supporting the millions of displaced quarantined workers facing financial challenges.

The two-year project, which began in February 2020, is now being accelerated to support relief efforts to those who need immediate help navigating their debt and financial obligation, with additional access to benefits and insurance programs while they are at home in quarantine and thereafter. In the U.S. alone, contractors, freelancers, gig workers, consultants and self-employed workers across the nation generated $1.28 trillion of revenue in 2018, and estimates are that 40 percent of the United States work force will engage in independent work by 2023.

“Fifty-eight percent of full-time gig workers would have difficulty covering a $400 emergency,” said Kristen Holt, president and CEO, GreenPath Financial Wellness. “Through our partnership with iPSE, our team of certified counselors can help independent workers navigate the financial consequences of COVID-19, manage debt and ease stress through every stage of their journey.”

Added Carl Camden, founder and president of iPSE-U.S: “The COVID-19 crisis has pushed this initiative to the front line. Solid financial health is essential for the nation’s independent workforce, especially now while people are quarantined at home with many out of work and in distress. My message to the 40 million-plus independent workers and newly unemployed entering the gig economy, ‘This should be a time of hope. Everything will be okay in the end. If it’s not okay, it’s not the end. iPSE U.S. and GreenPath will be here to help you through the entire process until it’s okay in the end.’ ”

Through the partnership, independent workers and businesses will gain access to portable benefits and insurance programs, free financial health assessments, programs to reduce debt, and one-on-one assistance in developing spending plans, establishing emergency savings, improving credit and deploying strategies to achieve financial goals.

More at www.greenpath.org or call 877-293-8883, or www.iPSE.us. IPSE-U.S. has a suite of enterprise solutions for gig marketplaces to create co-branded “a la carte” and custom 1099 Independent Worker benefits programs. iPSE-U.S. works in cooperation with HR and C-suite executives to provide programs that inspire their independent workers, increase productivity and reduce worker churn while lifting corporate CSR initiatives.

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