Helping financially stressed consumers restructure and refinance debt to rebuild their financial lives
LendStreet is revolutionizing debt relief by working with consumers who are financially distressed, providing them with solutions to pay off their old debt at terms that reflect their current reality. Unlike regular debt settlement models that can take months or even years, LendStreet provides financial relief far more quickly, preserving and rebuilding a customer's credit. By consolidating the debts into one 'LendStreet loan', clients are able to get a fresh start without impacting their credit score. A new monthly payment, often 20% or lower, is negotiated, making it more manageable for their client's budgets. LendStreet seeks to create new products and avenues that prioritize their customers’ success, as opposed to capitalizing on their struggle.
LendStreet is no longer operating.
- Despite the incredible financial burden of COVID-19 on their clients, their portfolio outperformed the FICO expectations by over 100 to 160 points and continues to do so.
- Settling over $20m in debt and providing over $12m in loans for disadvantaged consumers.
- Investors include Radicle Impact, Tuesday Capital, Prudential, Kapor Capital and Candide Group.
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