Relief is the TurboTax for getting out of debt. Our app makes it easy by negotiating directly with your creditors to cut down your principal balance in half or more- for FREE Get $100 towards your debt by joining our waitlist & $50 every time you refer friends
Hey PH,
I’m stoked to be announcing what I’ve been working on for the past year. Relief is a free app that gets rid of your credit card debt. Think of it as the TurboTax for debt.
TL;DR: for those of you who just want to save money :)
Relief is a simple and free app that destroys your debt. We do this many ways, but one of the big ones is negotiating down your debt with your creditors on your behalf, without you having to do a thing.
For those of you who want to know how/why we do this :)
Our mission is to make financial relief accessible to everyone. It is our point of view that no individual or family should live a poor quality of life due to credit card debt.
Existing consumer debt solutions are ineffective, costly, and are often scams. Relief solves this using advanced technology, transparency, and the ability to make it free for all users.
Our team raised 2M in seed funding led by Collaborative Fund & BFV, who are known for investing in companies that move the world forward such as Kickstarter and Peloton. Other notable investors include Justin Kan (Founder of Twitch), The Fund, and Necessary Ventures.
How it works?
Relief works by analyzing your personal finances and determining an optimized plan that gets rid of your credit card debt. Depending on the plan, Relief can automate the negotiation of your principal balance or cut down your APR, saving you thousands of dollars in interest.
To ensure the best possible outcomes for our users we work continuously on developing our machine learning technology to find better deals with creditors. This process is made possible by leveraging collective bargaining.
Our waitlist is live right now and we are offering PH users a special sign up bonus of $100 towards their debt. Any friend you refer will also get $50 to sign up, and you will earn an additional $50 as well.
We'd love to hear your thoughts and feedback!
@saltzmanjason I'm not sure what you mean by TurboTax? Could it be some kind of quick way to transfer funds to the bank when paying a loan or mortgage? I'd like you to describe your product in more detail. Right now, I see a stylish app with an excellent design, which you have thought of every detail. I rarely understand the value of apps from videos, so I always check with financiers or Mortgage Advice Lincoln. How safe is it to connect your virtual card to your app? Do you have an encryption system for customer personal data connected?
@vladyslav_brashchenko Student Loans that are backed by the gov are tricky. Private student loans are something we can for sure help with. That said, a lot of talk about the gov loans changing policy. We are really hoping for this change. It is VERY needed!
@saltzmanjason Hopefully! I'll definitely will share your product in my network!
Great product guys!
If you need any help with identity verification, just ping me!
Does this require you to be in default or behind on your payments? How is this different than other "credit relief" companies that push creditors for lower payoff amounts once the account is in default?
@michaelaleo hey, Michael. Great questions! The negotiator is NOT for people that are just trying to save money. This is an alternative to BK. That side of the product is for people that are falling or have already fell behind. We are launching a loan product that is simply to save money on interest for those with better credit. It is different because our system uses AI, Machine Learning and collective bargaining to get massive discounts off principal balances. It is completely automated and it is 100% free to use for the consumer. We do not believe that people that are having trouble with their finances should pay fees when they have already shown a true financial hardship. Hope this answers your questions!
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Looks nice! Do you plan to broaden the scope (personal loans, car loans,...) or are your intentions to focus only on credit card debt?
@the_safety_guy Great question, Rico. We are starting with unsecured debt to which the majority in the country is credit card, however we will support unsecured personal loans, non-gov backed student debt and balances that are left over after a repo or foreclosure. We lead with credit card because that is the biggest issue that is right in front of us in terms of bulk need. Hope this answers your questions. Thanks for your support.
You are clearly #1 project with the Value Proposition of the day! I have a few co-livings in LA we can place posters with your info on community boards.
Not only is this a killer product, but I could not imagine a stronger team and CEO. Millions of Americans have needed a product like this for quite some time. What a Relief!
I’ve known Jason since the very early days of Alley NYC, and I don’t think I’ve ever met a more determined entrepreneur. I’ve worked with Jason as he developed this product and this is going to be TREMENDOUS.
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