A Straight Talk on Debt gives you the real deal on debt, straight from our employees and industry insiders. Learn more about our debt relief plans and important industry updates.
If you decide to consolidate your debt, you will want to see your progress as you move through your debt relief plan. CareOne's 'Track My Progress' tool provides you with online access to see the progress you are making on your Debt Management Plan (DMP).
The 'Track My Progress' tool does not currently provide real time visibility, but based on the creditor balances you provide to us at the start of your Debt Management Plan (DMP), we can estimate remaining balances.
Below are three tips to help you track the progress you are making as you work to consolidate your debt:
Once enrolled on a debt consolidation plan you will still be sent a monthly statement from your creditors. You should reference the balances from these creditor statements to help ensure your payments are being received on time. Make it a part of your financial review process to compare your monthly CareOne plan statement against your individual creditor statements to ensure that your creditor payments are being received and that the benefits are being applied.
In the event that your creditor balances are different than those on your Debt Management Plan (DMP) statements, you can let us know so that we update the balances. We receive your creditor balances from you or your credit report when you begin on the debt consolidation plan, but between that time and when the proposals are accepted there can be variances. Once our proposals are accepted by your creditors they will verify that we have the correct balances on file.
If you review your creditor statements and notice that your balances are increasing, it could mean that your proposal has not yet been accepted. In the event a creditor declines our proposal, we will email you the reason for the proposal decline.
It is important to understand that it is normal for most creditors to require three consecutive payments through your Debt Management Plan (DMP) before proposals are accepted and the benefits are applied.
Following these three tips you can help guarantee that you will find success in paying off your debt!