Get assistance from the Wells Fargo Debt Pay Down Solution.

Wells Fargo has put into place a new program to help consumers get out of and eliminate debt. The Wells Fargo Debt Pay Down Solution helps people consolidate their monthly payments by providing them with a less expensive personal loan. The interest rate will be lower than what the customer is currently faced with. The next step of the process is that Wells Fargo will then help customers find money to pay off the new, lower interest loan and any other outstanding debts faster. in addition to the resources below, find additional assistance programs from credit card issuers and banks.

In addition to the personal loan provided, two other components of this plan include the following :

  • Consumers can receive the Wells Fargo Cash Back College Card, which is more for students or families with children. If that is not the best option for them, then they will receive the very similar Wells Fargo Cash Back Card. These two will motivate people to pay down the debt by providing cash-back rewards that they can then use to pay the personal loan balances or outstanding bills on their credit cards. Or people can decide to add the cash back rebates to their saving or checking checking accounts.
  • In addition, Wells Fargo has created a Smarter Credit center, which is an online resource center with information about how to establish, rebuild and use credit properly.

The Wells Fargo Debt Pay Down Solution is a three-step program.

  • The first step is that customers will need to consolidate high-interest debt and they should be able to get a lower monthly payments from a Wells Fargo personal loan. Consolidating all of your bills into a new, lower interest rate using this loan is on of the keys to the program.
  • Next, customers will need to use the new Wells Fargo Online tool, which is known as My Spending Report with Budget Watch, to find how they spend their money. This is in effect a budgeting tool, and it will help them determine ways to save money each month and how to spend less.
  • Last, but not least, customers will transfer extra money that they saved to pay the principal of the new loan to accelerate the pay-down. For example, an additional $40 a month applied toward the principal could help pay off a $10,000, five-year loan in less than four years.

The cash back program works as follows. The Wells Fargo Cash Back Card and the new Wells Fargo Cash Back College Card provide rewards to customers for their new credit card purchases by providing a full 1 percent in cash back. However the rewards are not to be used to pay for yet more goods or shopping trips. Rather those cash awards can be used to pay bills, or ideally further reduce or eliminate the debts the consumer has. So there are restrictions in place. Another use of the rewards can be to increase their personal savings or just add to their checking accounts.





Dial 1-866-311-8481 to learn more on the Wells Fargo Pay Down Debt Solution.

By Jon McNamara

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