What's New at AmeriChoice?

DEBT MANAGEMENT, Financial Literacy

Personal Financial Analysis

Brittney Monteith | May 13, 2021

If your boss asked you if you would like to get a raise each month, would you say YES?  If you can have your mortgage paid off in half the time, would you say YES?  If AmeriChoice would give you money back at the end of the loan, would you say YES?  With the AmeriChoice Personal Financial Analysis, we can possibly put you in the position to say YES to all three of those questions.

How does it work?

The Personal Financial Analysis is a process that reviews your monthly debts and identifies ways to save you money by restructuring your debt into a payment that offers you many financial benefits, both short and long term. This process can reduce your overall monthly debt (thus creating the raise mentioned) and get debt paid off sooner. In addition, you have the option to automatically put your monthly savings into an interest earning account, so those savings grow even more. On average, our members have saved $400-$600 per month, and cut their mortgage term by 7 to 12 years.  If your mortgage payment is $900 per month and AmeriChoice can cut your term by just 7 years, that is an additional savings of $58,000.  You can start thinking beach house instead of 7 more years of mortgage payments.

How long does it take?

After completing your request form in about ten minutes, our team will review and get back to you within one business day! After we share your plan to save, typical underwriting timeframes would apply to restructure your loans to one low monthly payment and pay off your current debts. Typical turnaround time from start to finish is 30 days.

Do you pull my credit for this process?

Yes-our team will need to determine your overall financial picture through your credit report.

Is this the same as debt consolidation/relief programs I see advertised on television and online?

No. With our Personal Financial Analysis, AmeriChoice is restructuring your debt so instead of paying interest on your current debt – those funds are redirected to pay principal on your mortgage and other debt.  Our primary objective is to get you in a better place financially by helping you to reduce your monthly debt load and get your debt paid off sooner.  Many debt relief companies negotiate payments with other debtors, but you are still paying several different payments as well as potential fees to these companies.

Is there a cost or obligation to complete the Personal Financial Analysis?

Never! There is no charge to request or complete the Personal Financial Analysis. When our team reviews the results with you, they will let you know what they recommend, how much it will save you monthly and overall, and what the next steps will be. We will also let you know if you are already in a good financial place, and in some cases, debt restructuring may not make sense for your situation.

How do I start the process?

Visit our Personal Financial Analysis page to get started today, and we will reach out to you soon!