New York, NY - Kredit (www.kredit.fyi), the leading centralized debt resolution platform, is excited to announce a new feature set available to Advisors: automatically simulated affordability of available settlement offers. This means Advisors can review offers faster, and more frequently.

This optional toolset decreases the time it takes for Advisors to determine whether a settlement offer received from a lender or servicer is affordable for a consumer. Kredit’s system compares real-time trust account balances, existing future obligations, settlement fees, and 3rd party fees against the full cash impact associated with accepting available settlement offers. The result: focus on settlement offers that are fully qualified as “affordable”, based on each Advisor’s custom simulation inputs. 

“Calculating settlement offer affordability for a consumer is a time consuming process for some Advisors in our network,” says Dave Hanrahan, CEO & Co-Founder of Kredit, “resulting in accounts being reviewed less frequently because of the effort each review requires. With this new toolset, Advisors who don’t have their own internal simulation tooling can re-simulate offer affordability daily. Rapid re-simulation of offer affordability leads to faster settlements, predictable program timelines, and optimized outcomes for consumers.

About Kredit:

Kredit is the leading centralized debt resolution platform and network. Its software applications help lenders, ARM organizations, and consumer financial advisors to simplify and modernize how debt gets resolved. Consumers and their advisors can address all accounts in collections within a central platform that helps them understand, communicate with, and pay the various organizations they may need to interact with regarding one or many accounts.

For more information about Kredit’s debt settlement network, contact us here.