Find the Answers You Need
Curious about Debt Wise, David Bach or the Debt Free Challenge? You're in the right place.
- How does Debt Wise work?
Debt Wise is an easy to use, online product from Equifax designed to help get out of debt. It’s not a debt consolidation tool or a budget tracker. Instead, it pulls information from your Equifax Credit Report™ and organizes your debts so you get the most from every payment. Stick to your plan to get out of debt faster -- and save money in interest!
- What is a Fast Pay Plan?
It’s a personalized payoff plan you create with Debt Wise. It uses an effective "Debt Stacking" strategy to pay down your debts more quickly and save money on interest. Getting started is easy. The user-friendly Fast Pay Plan Wizard guides you through.
- How does Debt Stacking work?
Debt Stacking is a payment strategy designed to help you pay off your debts more quickly. It organizes your debts so you know how much to pay and which to focus on first. Once you pay off your first debt, the amount you were paying toward that debt is added to the amount you pay towards the next debt on your list. By paying more on that second debt, you can pay your debts off sooner and save money in interest. As each debt is paid off, the process repeats.
- How does Debt Wise track my progress against my Fast Pay Plan?
You'll receive monthly updates about how you're doing with your plan. Accounts added from your Equifax Credit Report are updated each time the creditor reports new information to Equifax, usually once a month. Depending on whether an account's reported balance is the same as or below what your Fast Pay Plan has calculated for that period, the account will be "On Plan" or "Off Plan". If you’re “Off Plan,” Debt Wise can help you reconfigure your plan to get you back on track.
- Will Debt Wise improve my credit history or credit score?
No. Debt Wise™ will not improve your credit record, credit history, credit rating, credit score, credit report or debt-to-income ratio. These items are based on your past or historical credit behavior. Accurate, adverse credit information based on your past credit behavior cannot be changed. However, timely payments over time could yield positive changes in your credit history and score.
- Will I have to give up my credit cards?
Debt Wise helps you pay off your debts most efficiently to save you time and money in interest, but it’s up to you to manage your spending. Join and participate in The Debt Wise Community to discover tips and ideas for controlling spending and inspiring ideas for staying focused on your debt freedom goals.
- Who is the company behind Debt Wise?
Debt Wise was created by Equifax, the leader in consumer credit reporting, working with personal finance expert David Bach.
Customers have trusted Equifax for over 100 years to deliver innovative solutions with the highest integrity and reliability. Businesses — large and small — rely on Equifax for consumer and business credit intelligence, portfolio management, fraud detection, decision technology, marketing tools, and much more. The company also empowers individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.
- Who is David Bach?
David Bach is a best-selling author and personal finance expert dedicated to helping Americans get out of debt and build wealth. The author of nine books including two #1 New York Times bestsellers, Mr. Bach has helped individuals across the nation “finish rich” and he’s ready to help you get out of debt. Learn more about David Bach here!
- How is David Bach affiliated with Debt Wise?
In David Bach’s newest book, Debt Free for Life, he discusses his preferred system for stacking debts to pay them off most efficiently and save in time and interest. David was thrilled to learn about Debt Wise, which automates the entire process, making it easier and more convenient! In his own words, “It does exactly what I have been teaching for over a decade — only it’s even better because it’s totally automatic!” David’s partnership with Equifax has also led to the creation of David Bach’s Debt Free Challenge.
Debt Free Challenge
- What is the Debt Free Challenge?
David Bach’s Debt Free Challenge is a movement sweeping the country to inspire a million Americans to pay off a billion dollars in debt! This FREE challenge asks you to show your support by promising to take control of your debt, joining other Americans to reclaim your financial wellbeing and secure future.
- How do I take part in the Debt Free Challenge?
Just visit DebtWiseChallenge.com and add your name to the million people aiming to pay off a billion dollars in debt. There’s no obligation. Taking the Challenge is simply your promise to yourself to get out of debt. It’s that easy! You can even share the challenge with your friends!
See Debt Wise in Action
Try Debt Wise FREE for 30 days!
- Get out of debt faster. Save on interest
- Prioritizes the debts in your plan automatically
- Powered by your Equifax Credit Report
- Get Started in minutes
- No obligation. Cancel at any time.
David Bach, personal finance expert, best-selling author and advocate for Americans getting out of debt faster with Debt Wise.
Debt Wise is feature in David’s new book, Debt Free For Life.
See how easy it can be to organize your debts and start getting your finances back on track. David explains debt – A to Z – in the accessible, no-nonsense style that’s made him a bestselling author for more
than a decade.