TLDR: We buy loans on the secondary market and pass that savings onto consumers. We like to benchmark 5-10% transaction fee for most accounts. The reality is that the price on different traunches of debt makes that benchmark unworkable. In these situtions we have to adjust prices accordingly.

To add more clarity without getting too nuanced, we buy debt at competitive market rates and extend that discount to borrowers. Sometimes that discount is less than a penny on the dollar for what you owe, sometimes the fair price just isn't less than 90% of what you owe. In these cases, we still believe you deserve the discount and we'll present you with that offer.

A key part of what keeps our platform viable is our respect for the market. The moment we approach our business as a charity and push for unreasonable discounts, borrowers will be back to paying full-price. We have a buying relationship with lenders because we compete on both speed and price. The end result of that is not being able to give customers definitive price promises but our goal is to always present end-users with discounts far greater what negotiating and consolidating can offer.

Revised June 2023.