US Equity Advantage, or USEA, does not offer loans but aims to help borrowers pay their debts quickly through AutoPayPlus, which is a financial management service involving automatic payments, finance tools and credit tracking, explains the company's website. AutoPayPlus uses personalized payment plans, such as biweekly payments, for faster debt payoff. Borrowers with fixed-rate loans and household bills can sign up for the service and enroll all existing bills and loans during the initial six months.
USEA provides customized payment plans that fit the pay schedules of borrowers, thus avoiding missed payments and late fees. Customers may opt for weekly, biweekly, monthly or other personalized payment plans depending on their salary cycles and budgets. USEA offers AutoPayPlus to make payments automatic, because some people find it difficult to make consistent, prompt payments on their own, states the company's website. The service seeks to apply extra payments to principal instead of future payments to save on interest and shorten the loan term.
USEA deducts the program fee from the borrower's first payment to principal, according to the company's website. The fee covers services such as setting up an account for the borrower, enrolling all of his loans and bills, ensuring correct application of extra payments to principal, and customer support. Borrowers who want to cancel their membership do not have to pay cancellation fees, but the program fee is nonrefundable.