It appears I’m not the only one less than impressed by the new Debt Wise service rolled out by Equifax.
LA Time reporter David Lazarus has some thought to share on it as well.
For $14.95 per month Equifax will sell you a service that guide you to come up with a fast plan out of debt. But there may be no need for a consumer to spend that kind of cash when they can do it themselves, easily.
Yo, Equifax. What’s the point of putting important disclaimers for Debt Wise is hard to read print on the web?
So what do you get for $14.95 a month?
- 4 Equifax Credit Reports and Scores™ every 12 months with details about what’s impacting each of your scores
- Interactive Score Simulator™ to show you how your actions may change your score
- Daily monitoring of your Equifax Credit Report for key changes(email/wireless alerts)
- Up to $25,000 Identity Theft Insurance* with no deductible (certain limitations and exclusions apply)
Especially perplexing is the Debt Wise product says you can “choose debts from your Equifax Credit Report, add debts not in your credit report and is easy to update if you need to change your plan” so they already seem to admit the Equifax report does not cover all your debts.Debt Wise by Equifax. What's the Point? by Steve Rhode