debteye.com: Helping you to stop worrying about debt

With the current global financial situation seeing many people slipping into unavoidable debt, the launch of the world’s first automated payment negotiation tool is both topical and welcome.

Unfortunately, the typical response of a lot of people who suddenly find their financial situation rapidly deteriorating is to bury their head in the sand. The thought of a face to face discussion with debt experts, not to mention the actual creditors, is not something most ordinary guys in the street are comfortable doing.

Debt Eye can not only provide a simple on-line solution but can also remove the embarrassment and perceived stigma associated with debt problems. With no up-front fees the site advises on the best possible solution based on the information entered. What’s more the site is not claiming to have re-invented the wheel when it comes to debt relief with all of the avenues open already industry standard.

The first thing anybody with debt problems needs to do is sign up and enter some basic information. Debt Eye will then obtain a Transunion credit report listing known creditors and amounts.  There is an option available to exclude certain creditors if an amount is disputed or the name not recognized. Conversely any known creditors not showing up on the report can be manually added.

Based on the information entered, Debt Eye will then recommend one of three available options to present to creditors; debt settlement, debt management, or debt snowball plan whilst at the same time providing an automated monthly budget suitable in relation to the means of the individual. Repayment amounts can be tweaked accordingly and the system will calculate the time it will take to become debt free.

The site also allows users to interface with their bank account allowing transfers to creditors. Alternatively Debt Eye can make payments on behalf of users “for a small fee”.

It’s early days for the site and ongoing developments will no doubt bring enhancements. As it stands however it’s surely already a better bet than the alternative of ignoring spiraling debt. The consequences of that approach are not worth thinking about.

Conclusion
Debt solutions and advice on budgeting at the click of a button is a convenient and stress free way to remove the millstone of debt. With most of the services free too it won’t add to the problem.