Norwalk, CT (PRWEB) June 29, 2010
DebtPlan.com, a personalized online debt management tool, was launched today. It is the first debt management tool that guarantees you will save at least $1,000 in interest* while paying down your debt. With your current income, DebtPlan.com provides a custom, step-by-step plan to pay off debt faster and reduce the amount of total interest paid to creditors. Each plan is customized based on amounts owed, interest rates, types of loans, and income.
DebtPlan.com securely links debt and payment accounts to your personalized debt pay-down plan tracker, merging all of your relevant debt data into one place. Unlike other debt solution options, DebtPlan.com won't damage your credit.
When you start using DebtPlan.com, you will immediately know which bills to pay first to drive down your debt quickly. DebtPlan.com starts with a free 7-day trial. As a trial user, you have full access to your custom debt plan, automatic progress tracking, and our resource center. The service is only $14.95 per month following the trial period; you can call DebtPlan.com toll-free at 1-800-211-3096 within the first seven days to cancel, and you won't be charged/debited.
"DebtPlan.com is like having a coach automatically guide you, step-by-step, on the smartest, quickest and easiest way to end your debt. Whether you have $500 in debt or $50,000, DebtPlan.com can be the one tool to finally eliminate your debt. We are so confident in the success of DebtPlan.com that we're backing it with a $1,000 savings guarantee. Anyone with as little as $2,500 in credit card debt making minimum monthly payments will save at least $1,000 using DebtPlan.com," said Jeff Paradise, Senior Vice President of DebtPlan.com.
Added Carrie Coghill, DebtPlan.com's Director of Consumer Education, a Barron's Top 100 Financial Advisor, and one of the Top 50 Women in Wealth Management, according to Wealth Manager Magazine, "DebtPlan.com immediately lets you know what bill to pay first. If anyone feels frozen by debt, this will get them on their way. It is the right way to go about paying off debt. It makes certain you have early success as you watch each credit card drop from the list. Psychologically, people need to feel they're making measurable progress and getting a win. DebtPlan.com does this from the start with a custom plan," she said.
In minutes, DebtPlan.com guides you through five steps to become debt-free.
1. Helps you understand your debt. DebtPlan.com helps you understand your total outstanding balances, monthly payments, interest expense, and how long it will take to become debt-free. A recent survey revealed that 45% of Americans 18+ considered themselves in debt, yet just 20% of Americans in debt have calculated their debt-to-income ratio, and only 47% have a plan to get out of debt.
2. Creates a personalized debt plan. In about 10 minutes, the DebtPlan.com Setup Wizard leads you step-by-step through the plan creation process. You securely link your debt accounts, including credit cards, auto loans, student loans, and/or mortgages. Then you just add payment accounts, including bank accounts, investment accounts, and others, to provide the funds for paying down debt. The Setup Wizard then suggests a custom monthly payment amount and calculates the timeframe for you to pay down your debt.
3. Calculates optimal savings. DebtPlan.com will set up an optimal payment schedule to minimize your interest costs and accelerate the timeframe to become debt-free. You can alter the monthly payment amount to see how it shortens or lengthens your payoff timeframe. The DebtPlan.com Commitment Calculator helps you decide how to adjust the plan to fit your needs. DebtPlan.com adjusts each month to make sure your savings are optimized.
4. Automatically tracks your progress. DebtPlan.com automatically tracks your payments and balances and sends you e-mail alerts when you're on or off plan. As you enter payments, DebtPlan.com calculates and displays the amount of principal paid and interest saved.
5. Recommends "Accelerator Actions." DebtPlan.com can also recommend discrete actions that you can use to lower interest rates and find extra cash to become debt-free faster.
DebtPlan.com is safe and secure. The DebtPlan.com infrastructure incorporates world-class security and technology to safeguard user information. DebtPlan.com uses:
- 128-bit SSL encryption for communication, the same encryption technology used by leading financial
- Amazon.com's world-class secure EC2 as the hosting platform
- Industry-standard security for website access, data back-ups, and audits
DebtPlan.com has partnered with Yodlee, a leading financial services technology provider, to retrieve financial data for AccountLink. Bank login information used to retrieve this information is not stored on DebtPlan.com servers. DebtPlan.com stores passwords using industry-standard encoding methods that prevent anyone, including DebtPlan.com employees, from knowing customer passwords or having any access to their financial information.
The DebtPlan.com AccountLink service is built on the same secure platform used by leading financial institutions, like Bank of America and American Express.
Also, if you prefer, DebtPlan.com offers the flexibility to enter your financial data manually -- without entering your account names, numbers, or other sensitive information.
Added Coghill: "Once people try DebtPlan.com, they'll see that it turns paying off debt into a game that consumers can win. If paying off debt could be fun, this is it."
DebtPlan.com℠ (wwwDebtPlan.com) is a secure, personalized online debt management tool to help you manage and reduce debt. With DebtPlan.com, you control debt rather than debt controlling you. It is the first service in the debt management industry that guarantees you at least $1,000 savings in interest payments* while paying down debt. DebtPlan’s Personal Debt Wizard℠ creates a custom plan in minutes to shorten payoff time, reduce interest paid, and start tracking progress as you pay down debt. DebtPlan.com shows you how to become debt-free with your current income. Unlike other debt options, DebtPlan.com does not damage credit. DebtPlan.com is a service of FreeScore LLC. For more information, go to http://www.DebtPlan.com, or call toll-free at 1-800-211-3096.
*Terms and conditions of the DebtPlan.com $1,000 guarantee:
At the point of enrollment, you must have at least $2,500 of credit card debt at an interest rate of a minimum 14.5%, and you must be making only minimum monthly payments. In order to qualify for the refund, you must have created your debt plan within 10 days of enrolling in the service and must have followed to completion the original personalized debt plan that was established at enrollment. In addition, you must not have incurred any additional credit card debt while using DebtPlan.com and must still be a DebtPlan.com user when you request the refund. You must also fill out all required forms to verify that you followed the debt plan that was established when enrolled in the service. DebtPlan.com will then verify that you followed all rules that have been established as part of this guarantee.