Global data and technology company Experian has partnered with British not-for-profit organization Fair4All Finance to help people access debt consolidation products.
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
Global data and technology company Experian has partnered with British not-for-profit organization Fair4All Finance to help people access debt consolidation products.
Together, using a 1-million-pound (about $1.3 million) grant from Fair4All Finance, the organizations will promote ReFi, Experian’s technology that combines multiple debts into a single loan, they said in a Wednesday (Nov. 26) press release emailed to PYMNTS.
“Unlike traditional consolidation loans, ReFi settles existing debts directly with creditors, so lenders access only the new loan — removing the issue of ‘double counting’ and improving access to credit,” the release said.
Double counting is an issue in which both the original debts and the consolidated…