How To: Use the Guidance API (beta)
Payitoff’s Guidance API offers comprehensive debt guidance across a consumer’s entire portfolio, unlocking savings and putting it to work improving their financial wellbeing.
This is under construction. The API capabilities and it’s Response will continue to change.
If you'd like to join our beta program, please reach out to [email protected]
Steps to Implementation
Once you create a Consumer in Payitoff, we offer multiple options to import their debts. After that, you’ll use our Guidance API to find opportunities for the Consumer as well as fill in missing information to reduce assumptions and take action.
1. Create Your Consumer and Their Debts
Option 1: Via API
If you already know your Consumer’s Debts, you can import them via our API
- Create a Consumer via API (More details). You can create a Consumer with no information, but we recommend filling in as much as you can to get the most accurate guidance.
- Create their Debts via API (More details)
Option 2: Via Nexus
If you’d like your Consumer to link their Debts, use our interactive Nexus widget. Nexus will create the Consumer for you when launched:
2. Get Guidance
With your Consumer and their Debts successfully imported, you're ready to find out the Debt Guidance options available to them:
curl --request GET \
--url https://payitoff-sandbox.io/api/v3.0.0/consumers/50885f44-a4a5-4787-b530-47bf56b86739/guidance \
--header 'Authorization: Bearer $YOUR_API_KEY'
--header 'Accept: application/json'
Response:
{
"data": {
"actions": {
"avalanche": {
"description": "Makes minimum payments toward the relevant debts, applying any surplus toward the debt with the highest APR",
"result": "PAID_OFF",
"monthly_payment": "1831.00",
"total_cost": "115151.92",
"time_to_payoff": 212
},
"cc_consolidation": {
"description": "Apply for a personal consolidation loan to pay off that amount in credit-card debt",
"result": "PAID_OFF",
"monthly_payment": "1882.51",
"total_cost": "121382.79",
"time_to_payoff": 212
},
"idr_enrollment": {
"description": "Enroll eligible student loans in the SAVE repayment plan",
"result": "WONT_PAY_OFF",
"monthly_payment": "1271.00",
"total_cost": "1610063.71",
"time_to_payoff": 1200
},
"snowball": {
"description": "Pay off debts in order of smallest balance to largest",
"result": "PAID_OFF",
"monthly_payment": "1831.00",
"total_cost": "115615.79",
"time_to_payoff": 212
},
"student_loan_refinance": {
"description": "Consolidate private student loans at a better APR",
"result": "WONT_PAY_OFF",
"monthly_payment": "1831.00",
"total_cost": "1648443.69",
"time_to_payoff": 1200
}
},
"questions": [
{
"type": "DECIMAL",
"text": "What is the APR of your Student loan at LINCOLN TECHNICAL IN with balance $5,319.00?",
"question": "APR",
"debt_uuid": "e0d5172c-4446-4430-be53-6229e41c6a55"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Student loan at MOHELA with balance $32,851.00?",
"question": "APR",
"debt_uuid": "e214ffb2-bc6a-4312-9165-89a878b055a2"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Auto at HSBC AUTO FINANCE with balance $16,136.00?",
"question": "APR",
"debt_uuid": "aad5fd9f-9039-40a0-80f0-d046b567ce70"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Student loan at NELNET with balance $6,523.00?",
"question": "APR",
"debt_uuid": "768e7067-c471-4f7b-84f7-24d0101e410a"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Student loan at MOHELA FAMILY OF LOANS with balance $5,000.00?",
"question": "APR",
"debt_uuid": "c2e3677d-6883-41fc-ad5a-0ed76591f0e9"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Credit card at MX Bank with balance $4,867.00?",
"question": "APR",
"debt_uuid": "ccf05bb3-fab9-44a3-bb33-598178351fbd"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Student loan at DEPT OF ED/NELNET with balance $4,667.00?",
"question": "APR",
"debt_uuid": "8670fdeb-a25a-4538-a6b7-b1e2e419ba5a"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Student loan at NELNET FAMILY OF LOANS with balance $4,044.00?",
"question": "APR",
"debt_uuid": "d1790665-2b1d-441c-b93f-a0c6a9d0bc97"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Other at VISA/CITIBANK, N.A. with balance $1,996.00?",
"question": "APR",
"debt_uuid": "88cf76b1-c487-4444-b5d0-e6d98fc88063"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Credit card at MX Bank with balance $1,848.00?",
"question": "APR",
"debt_uuid": "0c6d005c-e2da-4a45-b5f9-934acdf09c91"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Credit card at MX Bank with balance $1,063.00?",
"question": "APR",
"debt_uuid": "da14fecd-03ab-440e-a90e-26db06252c06"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Other at MACYS/CITIBANK, N.A. with balance $324.00?",
"question": "APR",
"debt_uuid": "995518c1-3cd7-4b78-bf98-1dc17d746c15"
},
{
"type": "DECIMAL",
"text": "What is the APR of your Credit card at MX Bank with balance $224.00?",
"question": "APR",
"debt_uuid": "fde07fde-c253-42d7-a63b-0e3b62932e82"
},
{
"type": "BOOLEAN",
"text": "Are you overdue on any of your debts?",
"question": "ANY_OVERDUE_DEBTS"
}
],
"best_current_forecast": {
"summary": {
"result": "PAID_OFF",
"monthly_payment": "1322.51",
"total_cost": "76413.72",
"time_to_payoff": 238
},
"actions": [
"CC_CONSOLIDATION",
"IDR_ENROLLMENT",
"STUDENT_LOAN_REFINANCE",
"AVALANCHE"
]
}
}
}
3. Pay It Off
- Enroll federal student loans in an IDR plan for a lower monthly payment and potential forgiveness
- Apply for a personal loan to consolidate high-interest credit card debt into lower-interest monthly payment if eligible
- Roll the monthly savings into paying off high-interest credit card debt using the snowball or avalanche strategies
Updated 9 days ago