Although the first quarter of 2020 did not register major variations in the payment habits of Colombians’ financial obligations, the pandemic – undoubtedly – brought with it a series of difficulties, which from that period to now has caused the overdue portfolio to have more penalties tend to close the year above 13%.
The foregoing confirms that degree of economic impact both for individuals and for many companies but, nevertheless, some others were able to stand out and achieved historic results for the work they provide to society, as happened to the credit repair company Solve your Debt.
This company of Mexican origin, which is dedicated to credit repair, arrived in Colombia in 2014 and is part of the country’s Fintech Association, while also having a presence in Spain, Portugal and Mexico.
In the midst of this situation, as stated by the same organization, they were able to become the lifeline for those who went into over-indebtedness, since, thanks to their business model, these people were able to pay off their debts and today they again enjoy peace of mind and financial freedom.
In this way, Solve your Debt helps those who want to, but cannot pay their obligations, through the design of savings plans that vary depending on the payment capacity of each of the people who enter the program, since they believe in them and in their desire to start over, and that’s why they give them second chances. Furthermore, in this case, it is the firm’s experts who reach agreements with the creditors, obtaining discounts of around 53% on the total value of the debt.
–
–Very positive figures
The success of this alternative, according to spokespersons for the entity, is due to the fact that throughout its six years of operations in the country, more than 60,000 clients have taken the hand of the credit repairer to leave the over-indebtedness and thus recover your personal finances. Likewise, the average of debts settled to date is around 27,000, and the lives of almost 3,000 graduates (debt-free) have changed, who are people who achieve full settlement of their obligations through the negotiations that this company achieves.
It should be noted that, as impossible as it may seem, only in the months of isolation, the credit repair company had an income of more than $ 10,000 million and the overdue portfolio recovered in that time reached more than 4,000 debts, while 10,000 New clients entered the program from March to November 2020.
Thanks to the trust and satisfaction that they have managed to convey, despite the fact that the business model is new and unknown, to date they have recovered over US $ 17 million in past due loans, all in order to give them a second financial chance to Your clients.
On the other hand, Solve your Debt carried out a ‘crowdfunding’ campaign which sought to raise $ 500 million at an effective annual rate of 10 percent to invest in computers, in order to facilitate the work at home of its teleworkers. A goal that was achieved 100 percent, with more than 390 investors and, to date, has been the largest campaign on A2censo, the platform of the Colombian Stock Exchange. Apart from that, Solve your Debt will make a donation so that low-income students can access their classes in a remote environment and carry out their homework at home.
“Solve your Debt contributes to people who get into over indebtedness and who want to, but do not have the resources to be able to pay off their debts. During this process, new habits are adopted in favor of the proper management of personal finances in the future in order to avoid reports, regain financial peace of mind and be able to enjoy a second chance ”, reveal the company’s spokespersons.
– .
