The Wells Fargo Debt Pay Down Solution®
New program is designed to assist customers with debt…
Wells Fargo & Company, one of the nation’s largest and most stable banks, unveiled tools to help consumers reduce their debt, use credit more wisely and save money with the one-of-a-kind Wells Fargo Debt Pay Down Solution®. According to Ron Shevlin, senior analyst at Aite Group, “The Debt Pay Down Solution represents an important shift in how banks need to grow customer relationships. Today’s consumers don’t just need help in managing debt, they need education - and just as importantly - tools for managing their financial lives.”
The Wells Fargo Debt Pay Down Solution® is a three-part program to help consumers better understand their personal financial situation and reduce their debt. Use the “My Spending Report with Budget Watch” tool to find opportunities each month to spend less and lower your expenses. Consumers can also consolidate their high-interest debt and lower their monthly payments through a Wells Fargo personal loan. Plus, easily transfer extra money to the principal of the loan to speed up the balance pay-off.
Wells Fargo is also offering its Smarter Credit center (www.wellsfargo.com/smarter_credit), an extensive online resource about managing your money and using credit wisely. The “Smarter Credit” program assists customers with information about obtaining free credit reports, establishing and rebuilding good credit and improving general money skills through the use of Wells Fargo’s “Hands on Banking” program.
“Our new Smarter Credit approach can help homeowners and others get on the right track toward budgeting, paying down debt and saving for their futures,” says Jamie Moldafsky, an executive vice president in the Wells Fargo Home Equity Group and a leader of the initiative.
“A great place for consumers to start is the Smarter Credit online center, or they can visit with one of our bankers in our stores or over the phone. These new tools and solutions are excellent examples of our commitment to helping customers manage money better and reduce debt and increase savings, especially in stressful times,” said Kevin Rhein, Wells Fargo executive vice president of Card Services and Consumer Lending.
* To learn more, visit the Wells Fargo Smart Credit Center >
