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Equifax, author team up to offer help with debt

Created: On December 16, 2010 @ 2:44 pm In

Personal finance author David Bach has partnered with Equifax to issue the [1] Debt Free Challenge. The goal is to get 1 million people to pledge to pay off $1 billion in debt.

Crippling debt load

“Personal debt has become a major problem for American consumers — the average American family is carrying close to $15,000 in [2] credit card debt,” Bach said in a statement. “Unfortunately there is somewhat of a paralysis that sets in when it comes to getting out of debt — it can seem overwhelming and people don’t know where to start. The Debt Free Challenge can be that first step.”

Debt reduction tools

If you sign up for the challenge, you can download a free chapter from Bach’s book, Debt-Free for Life: The Finish Rich Plan for Financial Freedom. You also get to try out Equifax’s Debt Wise product free for 30 days. After the free trial ends the cost is $14.95 a month. The Debt Wise product basically helps you set up a debt stacking plan to pay off various debts.

Structured debt help

Although there could be some benefit to having a structured plan to pay off credit card debt and other bills, think long and hard before signing up for such a plan. If you really are committed to paying off credit card debt and can stick with a program, it may be worth a try. But be honest with yourself. If you really have no intention of following through with a [3] debt reduction plan, signing up for a paid program could just end up being another monthly expense you can’t really afford.

Use any tools you can find that might help with your [4] debt reduction plan. Before paying for debt help, search for free [5] debt counseling programs or other materials that can help get your finances in order.

Article printed from DebtHelp.com Blog: http://www.debthelp.com/blog

URL to article: http://www.debthelp.com/blog/2010/12/16/equifax-author-team-up-to-offer-help-with-debt/

URLs in this post:
[1] Debt Free Challenge: http://www.debtwise.com/home/en_dw
[2] credit card debt: http://www.debthelp.com/kc/credit-card-debt-avoiding-temptation.html
[3] debt reduction: http://www.debthelp.com//
[4] debt reduction: http://www.debthelp.com/blog/2010/12/07/debt-consolidation-and-credit-counseling-services-how-they-c

[5] debt counseling: http://www.debthelp.com/blog/2010/12/07/debt-consolidation-and-credit-counseling-services-how-they-c