Important Legal Items
What benefits does DebtWatchers provide me?
DebtWatchers is an information product that allows you to:
- understand your existing debt obligations,
- develop your Fast Pay Plan for paying off your debts based on information and preferences you input into the Fast Pay Plan Wizard and the options you select,
- monitor your progress against your Fast Pay Plan, and
- update your Fast Pay Plan from time to time.
How can I achieve the time and money savings for paying off my debts that are indicated in my Fast Pay Plan?
To achieve the reduction in the number of months until you pay off the debts that you included in your Fast Pay Plan and the interest savings that are shown in your Fast Pay Plan, you must pay off your debts according to your Fast Pay Plan, not incur additional balances on those debts, and not incur new debts. In addition, you must monitor your bills and accurately enter and keep updated your existing debts and debt terms in your Fast Pay Plan.
Remember that the actual results you achieve towards paying down your debts, reducing the length of time you will be in debt, and realizing savings in interest payments depend on you following and completing the Fast Pay Plan that you create. Actual results will vary based upon individual circumstances.
Will DebtWatchers provide me with a loan or extension of credit that I can use to pay off my other debts?
No. DebtWatchers is not a loan product, does not provide an extension of credit, and is being offered independent of any extension of credit.
Will Primerica or Equifax negotiate with my creditors to get me better terms on my existing debts?
No. Neither Equifax nor Primerica will negotiate on your behalf with your lenders or creditors to obtain new or different loan or credit terms for you or to eliminate, reduce or settle your debts.
Will Primerica or Equifax distribute my debt payments to my creditors on my behalf?
No. You must continue to pay your lenders and creditors directly. You remain at all times responsible for paying your debts in accordance with the terms of your agreements with your lenders and creditors.
Will DebtWatchers improve my credit history or credit score?
No. DebtWatchers 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 behaviour, and accurate and timely adverse credit information based on your past credit behaviour cannot be changed.
What role do Primerica and Equifax each play in providing DebtWatchers to me?
Primerica and Equifax have entered into a business relationship whereby Primerica’s independent sales representatives make referrals of clients to Equifax for DebtWatchers. DebtWatchers includes the Equifax Credit WatchTM product and the Fast Pay Plan Calculator. Neither Primerica nor its independent sales representatives are involved in providing the Equifax Credit WatchTM product, including the credit report and credit score. Neither Primerica, nor its independent sales representatives are licensed as a consumer reporting agency or are involved in any way with providing credit reports or credit scores. The Fast Pay Plan Calculator is provided solely by Primerica and is not a part of Equifax Credit Watch. Equifax is not involved in any way with providing the Fast Pay Plan Calculator and will not have access to or any information about your Fast Pay Plan.
Neither Equifax or Primerica is a certified or registered financial planner, and neither Equifax, Primerica, nor the DebtWatchers product provide debt management advice, credit counseling, financial planning or financial counseling.
How do I know if using DebtWatchers is right for me?
Your personal financial situation is unique, and you must determine whether the information you obtain through using DebtWatchers is appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.
Please see important disclosures.