On July 7th, 2009 Equifax launched Debt Wise™, an innovative product that uses information from the Equifax Credit Report™ to empower consumers to free themselves from debt—faster.

Debt Wise effectively eliminates one of the biggest hurdles for many debt laden consumers—getting started. Subscribers can create their personal debt payment plan online in as little as 10 minutes, in the privacy and comfort of their own home. The product’s Fast Pay Plan Wizard makes it easy. The wizard automatically imports debts from a subscriber’s Equifax Credit Report so that they can easily select which debts to include in their plan. Debt Wise aligns those debts in an optimal order and then applies a debt stacking strategy so that the subscriber can see how to pay them off faster—without paying more in monthly payments than they already do. Debt Wise is a powerful, easy, and secure way for consumers to create a plan to pay off their debts faster; plus have their progress automatically tracked and receive alerts to let them know if they are on or off plan. By sticking to their plan, consumers may be able to pay off their debts faster and potentially save a lot of money in interest payments.

Debt Wise is a part of Equifax’s suite of products designed to help consumers understand their credit, protect their identity, and maximize their financial well-being. For more information about Equifax Debt Wise, visit www.equifaxdebtwise.com.  Source: EQUIFAX Press Release

BIIA Newsletter July – August 2009 Issue