Equifax Debt Wise Subscribers can get out of debt 15 years sooner

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ATLANTA, GA, DECEMBER 1, 2009 – In an effort to empower consumers to improve their financial well-being, Equifax launched Equifax Debt WiseTM, an innovative product that uses information from the Equifax Credit ReportTM to enable consumers to create a plan for paying off their debt faster—without paying more in monthly payments than they already do! The average subscriber can save over $30,000 in interest and get out of debt 15 years quicker by following their Fast Pay Plan†.

Less than six months after launch, Debt Wise has helped thousands of consumers map their path to debt freedom. Sixty-two percent of respondents in a recent Debt Wise subscriber survey believed that the product helped them change how they pay off their debt; 65% would recommend it to others††.

“Consumers are in a financial crisis. Many of them are struggling to make minimum payments on bills that seem impossible to pay off, emptying retirement funds or tapping their home equity to get out debt,” says Steve Ely, President, Equifax Personal Information Solutions. “They are well beyond treading water; they’re drowning in their debt. That is why having a plan for getting out of debt—a plan that they can actually stick to—is so important.”

For less than $.50 per day, Debt Wise subscribers can create a personal debt payment plan online in as little as 10 minutes, in the privacy and comfort of their own home and receive access to highly rated, user ranked features like:

Monthly Progress Alerts that help subscribers know if they are on or off plan and when an account is paid off.

Credit Monitoring and alerts within 24 hours of key changes to their Equifax credit file.

Fast Pay Plan Wizard that makes setting up a plan simple, straightforward and flexible by automatically importing debts from the Equifax Credit Report and enabling subscribers to decide which debts to include in their payment plan

4 FICO Scores every 12 months so subscribers can check their credit score, as it may change over time.

Commitment Calculator tool to simulate how paying additional amounts towards debts could accelerate one’s debt freedom date.

Spend Smart Tools that provide ideas on ways to save money and spend wisely.

Identity Theft Insurance of up to $25,000 with no deductible*.

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, visitwww.equifaxdebtwise.com.

Contact Information

Demitra L. Wilson

Director, Public Relations, Equifax Personal Solutions

(678) 795.7885

demitra.wilson@equifax.com

News Source : Equifax Debt Wise Subscribers can get out of debt 15 years sooner