Credit.com, a leading credit education and financial services company and BillFloat, the first and only provider of consumer-centric small-dollar loans for bill payment, will announce a strategic partnership next week at Finovate 2010 in New York.
Credit.com visitors will have access to the first small-dollar lending solution that offers consumers more time to pay their bills to over 3,000 billers including utility, cable and satellite, cell phone, auto lease,, housing, and insurance payments. In contrast to payday lenders that have encountered resistance from State and Federal regulators for high cost lending practices, BillFloats solution embraces the FDICs Small Dollar Loan Template. BillFloat will be featured alongside Credit.com tools, consumer credit news, a selection of credit cards, credit scoring products and unbiased product reviews by its team of experts.
Millions are struggling to stay current with their bills during these financially turbulent times. Their credit situation is taking a nosedive and their lives are being turned upside down, said Credit.com Chairman and Co-Founder Adam Levin, who is a former Director of the New Jersey Division of Consumer Affairs. BillFloat gives consumers a safe and secure way to better protect their credit by avoiding score killers like late fees, overdraft charges, service termination, and high cost payday loans.
BillFloat offers a compelling, consumer-centric alternative in the $ 50 billion small-dollar loan market. The payment service gives consumers trapped in a short-term cash crunch much needed breathing room to manage their bills responsibly.
We focus on delivering the best way for consumers to get ahead of their bill payment obligations. Our partnership with Credit.com allows our customers to build and maintain good credit scores and graduate to traditional financial offerings, said Ryan Gilbert, BillFloat CEO. We provide consumers relief from the $ 32 billion in overdraft protection, non-sufficient funds, and late fees that are paid by American families every year.
About Credit.com, Inc.
Credit.com provides straightforward education and products to help consumers make better financial decisions. Credit.com was established in 1995 with the goal of helping consumers with any credit standing to establish, rebuild, enhance and effectively use credit. Cited by Money and Fast Company for its innovative Credit Report Card, our industry experts create clear paths for consumers looking to improve their finances. For more information, go to: http://www.credit.com.
About BillFloat.com
BillFloat was founded in 2009 by a team of experienced financial services entrepreneurs with investment and technology backing from First Round Capital (http://www.firstround.com), PayPal (http://www.paypal.com), and Venrock (http://www.venrock.com) and angel investors. Consumers use BillFloat to pay bills and avoid late fees, overdraft charges, service termination, and high cost payday loans. Billers including utility providers, cable companies, and insurers accelerate their cash flow through BillFloats easy to implement and secure system. The service is available on billers websites and through financial services partners including prepaid and debit card issuers, payroll services, walk-in payment centers, and http://www.billfloat.com.
Contacts:
Peter Mansfield
(310) 910-9133 office
(310) 245-9600 mobile
pmansfield(at)billfloat(dot)com
and/or
Tony Berlin
(212) 317-9179 office
(201) 705-8209 mobile
tberlin(at)credit(dot)com
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