Drive efficiency and maintain compliance within the negotiation command center.
Expand counterparties
Work with a broad ecosystem of collection agencies, debt buyers, collections law firms, and lenders.
Automate account location
Get access to real-time account balances and up-to-date information.
Stay compliant
Satisfy each counterparty’s compliance requirements to join their network of approved firms.
Auto-generate documents
All signatures are captured digitally ensuring a streamlined and efficient process while maintaining a transparent record.
Getting started is simple.
Step 1
Connect or upload enrollees
Work within Kredit's secure online application or leverage CRM integrations to operate in the environment negotiators are most comfortable.
Step 2
Select counterparties from active firms
Tightly control which organizations' databases consumer identities are searched against, and choose when and how to share they are enrolled.
Step 3
Locate accounts and start negotiating
Automate basic functions so that team members can focus on unique negotiations and generating new insights.
Manage workflows centrally through a secure portal.
Kredit’s Debt Settlement module allows you to automate decisions to ensure compliance, fairness and efficiency.
Upload consumer identities & get real-time balances.
Centrally navigate enrolled consumers.
Receive “action required” notifications.
Work off of real-time balances directly from counterparties’ CRMs.
Provide consumer authorizations to communicate.
Provide blanket authorizations to communicate to counterparties, who will accept them, with audit rights.
Individually upload authorizations to communicate to counterparties who require individual eSignatures.
Gather direct consumer eSignatures on counterparty-specific authorizations to communicate.
Auto-negotiate settlements.
Access account and proposal history in a standard and holistic view.
Filter and export payment reports.
Maintain an independent audit log for internal or regulatory reviews.
Kredit's Debt Settlement Module is provided to debt settlement firms at no cost.
Counterparties cover the investment of negotiating through Kredit because of operating efficiencies, embedded compliance measures and the additional effectiveness of an expanded counterparty universe.
Frequently asked questions
When are consumer identities shared directly with counterparties?
After locating accounts and corresponding information, each debt settlement firm or other advisor individually establishes when they alert each counterparty they represent consumers. Organizations can immediately alert counterparties, or delay alerting counterparties until a consumer has accrued a sufficient balance to avoid litigation risk.
Does Kredit ever contact consumers represented by an advisor?
Kredit never contacts consumers who are enrolled with debt settlement firms or other advisors under the Kredit brand. In fact, consumers never find out Kredit is involved. Organizations may leverage Kredit infrastructure to send esignature requests to consumers, but they are sent under the individual organization's brand.
Do counterparties offer better terms when negotiating directly versus doing so through Kredit?
The settlement rates each Kredit Network Member offers are solely in their discretion. While some organizations have historically been known to offer different rates through different channels, the primary value propositions of negotiating through Kredit are automation, compliance, and a fluid ecosystem which creates opportunities for deeper settlement discounts due to operating efficiencies.
Does Kredit share organizations' negotiation trade secrets with competitors?
Absolutely not. Each organization who negotiates through Kredit signs an explicit Platform-as-a-Service Agreement and Data Use Agreement that protects them from data misuse and prohibits unauthorized data sharing, for organizations’ sake. Kredit's strategic focus is on sharing automation, compliance and data security best practices which benefits each industry stakeholder.
Can Kredit help with creditor relations if a counterparty is not currently in its network?
Yes, as organizations negotiate through Kredit, they can invite new counterparties to join the Kredit ecosystem after being reviewed by the Kredit team to ensure proper licensing and regulatory good standing.
Does Kredit replace the need for a CRM or payment processor?
Kredit's solutions are a back-office automation suite. Kredit does not take the place of debt settlement firms' or other financial advisors' CRM and payment processing solutions. Kredit tightly integrates with other technology vendors who support organizations.
Ready to see the platform in action?
See how Kredit’s tools can help you automate processes, drive engagement and optimize workflows.
