Kredit optimizes managing debt settlement operations.
Expand the counterparty network
Work with a broad ecosystem of debt settlement firms and accept or decline to work with existing firms. Invite new counterparties to quickly onboard to the Kredit network.
Leverage compliant processes
Dictate how consumer consents are gathered, ensure organizations follow consent guidelines and support counterparties with embedded tools to satisfy consent requirements.
Increase negotiation efficiency
Centralize fragmented negotiation channels, automate decisions with negotiation rulesets while reviewing proposals in bulk which rulesets can't auto-approve. eSign generated settlement agreements in-platform.
Gain data-driven insights
Recognize, understand and react to trends, analyze negotiation data to drive wholistic strategy and compare liquidation across portfolios and counterparties. Focus resources on investing in high value activities.
Getting started is simple.
Step 1
Connect account data
Use the platform with existing systems. Connect information to accelerate account location.
Step 2
Select counterparties
Decide who to interact with and define authorization to communicate parameters.
Step 3
Negotiate settlements
Apply rules that automate decisions, negotiate accounts in bulk, or address each account individually.
Automate the settlement process.
Kredit’s Settlement module allows you to automate decisions to ensure compliance, fairness and efficiency.
Auto-negotiate settlements by applying automated rules.
Select settlement parameters.
Apply rules to accounts or portfolios.
Spot-check & ensure scenario coverage.
Review proposals, all in one place.
View proposals by status, and filter based on characteristics.
Quickly search for specific proposals.
Take bulk actions.
Gain a wholistic view of each consumer.
Confirm authorization to communicate standards are met.
eSign settlement documents quickly in-platform.
Understand parallel settlements a consumer may be negotiating.
Ensure compliance, with rules and frameworks enforced in code.
Consolidate negotiations to create operating efficiencies.
Sustain compliance with consistent workflows and frameworks.
Apply insights to maximize liquidation.
Frequently asked questions
What type of consumer financial advisors does Kredit support negotiating with?
Kredit allows for-profit debt settlement firms, non-profit credit counseling agencies, and legal advisors to negotiate through the Debt Settlement application. Each organization is required to be properly licensed by regulators.
How does Kredit enable organizations to ensure debt settlement firms and other organizations have properly gathered consumer consents to negotiate on their behalf?
Each Kredit Network Member is able to set the unique consumer consent gathering parameters they are comfortable working with each counterparty under. Organizations can set the same consumer consent requirement for all counterparties, or vary their consumer consent requirements for every organization.
The consumer consent gathering options Kredit supports include (i) each organization uploading a single blanket Authorization to Communicate that attests they've gathered all consumer consents required to negotiate with any counterparty (with an audit right), (ii) each organization individually uploading a signed Authorization to Communicate for every consumer they represent or (iii) each organization leveraging Kredit's independent infrastructure to gather an electronically signed Authorization to Communicate from every consumer, naming the Kredit Network Member with which the consumer permits them to negotiate.
Do debt settlement firms get to view the settlement rules Kredit Network Members set?
Consumer financial advisors do not get to view the settlement rules which Kredit Network Members set. Financial advisors may request pre-approved settlement options which infer settlement options for a consumer's specific scenario, but the rulesets themselves are not shared.
Are organizations required to exclusively negotiate through Kredit?
Kredit does not require that its Network Members exclusively negotiate through Kredit. If an organization has existing direct relationships they wish to maintain, Kredit does not discourage those.
How is sensitive consumer data handled to ensure information security?
Kredit provides both Kredit Network Members and consumer financial advisors a secure application to operate in. These applications communicate with one another, in a closed ecosystem which ensure information security standards are met, without dependencies on organizations internal technical capabilities.
Ready to explore the Kredit platform further?
Schedule time to discuss how each platform module can be tailored to meet unique needs, drive efficiency and growth, and enable organization evolution.
