Debt Relief Industry

ReadyForZero Launches. Self Directed Debt Elimination.

My friends over at ReadyForZero.com have officially launched their free online service to help people get out of debt with an automated plan.

I had the pleasure of seeing the early demos on this product and wrote about them previously. See “Co-Founder of ReadyForZero.com Shares Details How They Could Revolutionize the Need for Credit Counseling.”

I was excited by their product early on and what is to launch today is just the first step in what could turn out to be a good tool to help people to dig themselves out of a debt hole, for free.

Screenshots

The Official launch Statement

ReadyForZero Helps Consumers Eliminate Credit Card Debt and Manage Credit Reputations

New, Free Online Financial Tool Automates the Debt Management Process

  • 360 degree financial profile unlocks debt management options for consumers
  • ReadyForZero investors include former PayPal and Mint.com executives
  • Rob Garcia of Lending Club joins ReadyForZero Board of Advisors

SAN FRANCISCO, CA – February 2, 2011 -With Americans committing themselves to reducing $900 billion in revolving credit card debt, there is a need to improve and simplify the debt management process. ReadyForZero is aiming to solve this problem by giving consumers a single place to discover legitimate options, receive trustworthy guidance and education and manage their credit reputations. With its new, free online financial application launched today, the company is taking the first step towards adding legitimacy to and streamlining the debt resolution process to get people out of credit card debt faster. Consumers can begin using ReadyForZero immediately at www.readyforzero.com.

Today, options for people with credit card debt are often overwhelming and confusing. They are bombarded by information on the web and TV and often can’t decipher what the best option is for them. At the same time, because the average American carries four or more credit cards, it is often difficult for them to assess their situation objectively and put together a proper strategy.

ReadyForZero acts as a trusted advisor that simplifies the debt resolution process by creating visibility and transparency through its new, free online financial application. This tool gives someone struggling with credit card debt a 360-degree view of their financial situation – taking into account information like credit report data, payment behavior, checking/cash-flow, and transaction data. Using this comprehensive financial profile, ReadyForZero can build a personalized plan for consumers and track their progress toward reducing their debt.

ReadyForZero’s vision is to empower consumers with a new way to demonstrate their true credit worthiness to lending institutions. Qualified ReadyForZero members can obtain lower-interest, fixed-rate personal loans through our partnership with Lending Club, the world’s leading platform for investing in and obtaining personal loans.

“After the credit crisis our country went through, deleveraging is top of mind for millions of Americans and getting rid of credit card debt has rightfully become a top priority for many — over 60% of Lending Club loans have been used to help consumers pay off their high interest debt,” said Rob Garcia, Senior Director of Product Strategy at Lending Club and ReadyForZero Advisory Board Member. “ReadyForZero has built a simple and straight-forward solution that will help guide consumers through every step of the debt resolution process. I believe ReadyForZero is uniquely positioned to empower consumers to better assess their creditworthiness and manage their debt responsibly. This team is onto something disruptive.”

About ReadyForZero

ReadyForZero builds simple financial software that helps people get out of credit card debt and manage their credit reputations online. The company is backed by prominent angel investors who are also industry veterans from PayPal, Mint.com, Google, and YouTube. For more information check us out online at www.readyforzero.com, on Twitter at http://twitter.com/readyforzero, and on Facebook at http://www.facebook.com/readyforzero


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READ  Co-Founder of ReadyForZero.com Shares Details How They Could Revolutionize the Need for Credit Counseling



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

30 Comments

  • Rod, Scratch that last question, I just viewed the site page by page, word for word, without actually signing up. Not much content on the outside, left me wondering what’s the catch? In fact where I found the most information was in the Privacy Policy and Terms of Use..very interesting. From a consumers point of view (and this is just my take on it) linking you guys to my accounts directly is not something I would do but hey that’s me. I would also look for some type of insurance for protection which I didn’t see and after reading the Terms of Use from the Disclaimer and Limitation of Liability on down, this would not be for me.

    Only one mans opinion!

    Again best of luck…
    Michael Reilly
    Emerge America

  • Mike, we are uniquely positioned as you suggest to provide and evaluate a complete, 360 view of someone’s situation (in a similar way traditional credit counselors can). This allows us to present the best options given someone’s specific situation. With all that said, today we only offer two options: personal loans and a self-powered plan. Of course, we plan to offer consumers a lot more… this is just the beginning.

  • Rod, just wondering…what as stated above would be identified options that your firm would provide a consumer? Keep in mind I have not yet looked at the site but, based on what I’m hearing one option (probably based on the consumers total profile) would be a low interest rate loan, are there others, such as some of the traditional methods offered by folks here on the board? Or is it all DIY?

    Good luck
    Michael Reilly
    Emerge America

  • Thanks for the comment. ReadyForZero does not sell your information to anyone for any reason (this is also clearly stated in our Privacy Policy available here: https://www.readyforzero.com/o

    Unlike existing options, you control the process completely. If you decide a Lending Club loan is the right choice, you have to fill out an application yourself on your own. We help identify the best options, in all cases you consent and take action on your own. Let us know if you have any other questions.

  • Schreech. Back the bus up.

    They don’t sell member information to LendingClub.com. If someone decided to get a loan from LendingClub.com they would receive compensation for that, just like this site does. They are not selling user information.

    Their plan is to reinvest any fees earned into the loans their members needed to fund. It’s the same think I do.

  • so they take my info and then try and sell me a loan on LendingClub? isn’t this like a debt consolidation loan then?

  • they make money by selling the info to their partner LendingClub. Its basically a web site to capture leads for Lending Club, they will later sell the data to make money in other areas.

  • they make money by selling the info to their partner LendingClub. Its basically a web site to capture leads for Lending Club, they will later sell the data to make money in other areas.

    • so they take my info and then try and sell me a loan on LendingClub? isn’t this like a debt consolidation loan then?

    • Schreech. Back the bus up.

      They don’t sell member information to LendingClub.com. If someone decided to get a loan from LendingClub.com they would receive compensation for that, just like this site does. They are not selling user information.

      Their plan is to reinvest any fees earned into the loans their members needed to fund. It’s the same think I do.

    • Thanks for the comment. ReadyForZero does not sell your information to anyone for any reason (this is also clearly stated in our Privacy Policy available here: https://www.readyforzero.com/overview/privacy)

      Unlike existing options, you control the process completely. If you decide a Lending Club loan is the right choice, you have to fill out an application yourself on your own. We help identify the best options, in all cases you consent and take action on your own. Let us know if you have any other questions.

      • Rod, just wondering…what as stated above would be identified options that your firm would provide a consumer? Keep in mind I have not yet looked at the site but, based on what I’m hearing one option (probably based on the consumers total profile) would be a low interest rate loan, are there others, such as some of the traditional methods offered by folks here on the board? Or is it all DIY?

        Good luck
        Michael Reilly
        Emerge America

        • Mike, we are uniquely positioned as you suggest to provide and evaluate a complete, 360 view of someone’s situation (in a similar way traditional credit counselors can). This allows us to present the best options given someone’s specific situation. With all that said, today we only offer two options: personal loans and a self-powered plan. Of course, we plan to offer consumers a lot more… this is just the beginning.

        • Rod, Scratch that last question, I just viewed the site page by page, word for word, without actually signing up. Not much content on the outside, left me wondering what’s the catch? In fact where I found the most information was in the Privacy Policy and Terms of Use..very interesting. From a consumers point of view (and this is just my take on it) linking you guys to my accounts directly is not something I would do but hey that’s me. I would also look for some type of insurance for protection which I didn’t see and after reading the Terms of Use from the Disclaimer and Limitation of Liability on down, this would not be for me.

          Only one mans opinion!

          Again best of luck…
          Michael Reilly
          Emerge America

  • I agree. It will be most successful for people that are structured and stick to a plan. It may not be suited for people that are neck deep in a bad situation and need intervention.

  • The guys over at Ready for Zero shot me over a demo version a few days ago and I am ready to check it out. They showed me the earlier version a few months ago and I am very excited about this roll out. This will be an excellent tool to keep me more informed of my client’s financial situation as we are working through a resolution.

    In the past I would have to rely on my clients to accurately track and report their spending to me so that I could help the determine the appropriate solution with the highest likelihood of success. Now with Ready for Zero all of the leg work that my clients used to have to take care of will be a mostly automated process making it much easier for me to have accurate information faster.

    I am excited to select a handful of my clients to help me test this software and get it rolled out as quickly as possible.

    Good job Rod and Ignacio

    https://getoutofdebt.org/Damon-

  • The guys over at Ready for Zero shot me over a demo version a few days ago and I am ready to check it out. They showed me the earlier version a few months ago and I am very excited about this roll out. This will be an excellent tool to keep me more informed of my client’s financial situation as we are working through a resolution.

    In the past I would have to rely on my clients to accurately track and report their spending to me so that I could help the determine the appropriate solution with the highest likelihood of success. Now with Ready for Zero all of the leg work that my clients used to have to take care of will be a mostly automated process making it much easier for me to have accurate information faster.

    I am excited to select a handful of my clients to help me test this software and get it rolled out as quickly as possible.

    Good job Rod and Ignacio

    https://getoutofdebt.org/Damon-Day

  • I demo’d the product and it has a very nice, easy-to-use interface. The big question is whether consumers can stick with the program – not always easy right now given the financial reality many are facing.

  • I demo’d the product and it has a very nice, easy-to-use interface. The big question is whether consumers can stick with the program – not always easy right now given the financial reality many are facing.

    • I agree. It will be most successful for people that are structured and stick to a plan. It may not be suited for people that are neck deep in a bad situation and need intervention.

  • It’s seems like an excellent product. I developed a similar product in 2005. I was ahead of my time. The only problem is that people that can make the minimum payments are rarely motivated to micro-manage their finances. They’ll get traction, but few people will follow through and live it. Still, for those that use it, it should be worthwhile.

  • It’s seems like an excellent product. I developed a similar product in 2005. I was ahead of my time. The only problem is that people that can make the minimum payments are rarely motivated to micro-manage their finances. They’ll get traction, but few people will follow through and live it. Still, for those that use it, it should be worthwhile.

  • It is not a non-profit. They make money just like Facebook did. Provide the service first and monazite it latter. See there FAQs for more details on all of this. Click here.

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