Brisbane-based Credit Reboot has developed and rolled out a software that allows consumers and small businesses to renegotiate their debts ahead of the deadline of their repayment holidays by the end of this month.
The software enables borrowers to write off 50% to 90% of their debt by identifying lending breaches by the credit providers. This would allow borrowers to “reset their debt position” before their repayment holidays end.
Around 900,000 consumers and small businesses had their repayments frozen at the peak of the economic uncertainties over the past year, said Laurence Barlow, CEO of Credit Reboot.
Barlow said the development of the software is a step towards helping these borrowers be in a good position when they start the…