The new fintech “lever” tackles debt negotiation

Eighty-nine percent of Australians did not view debt negotiation as a means of financial aid under the new leverage.

Data from the University of Melbourne also shows that many Australians go into debt because of simple daily expenses such as telephone, utility and internet bills.

This despite the decline in credit card debt during the pandemic, aAccording to recent data from the Reserve Bank, credit card spending rose from $ 22 billion in June to $ 19.5 billion in July of this year.

Lever founder Trent McKendrick said the majority don’t realize they can negotiate with their suppliers, creditors and lenders, giving them debt resolution options they don’t realize are available under credit and debt regulation.

“We know that consumers are looking for quick fixes or new lines of financing like payday loans or debt consolidation when faced with the pressure of an overdue account or a demand for debt,” McKendrick said.

“But the reality of these options means they end up getting even more debt.”

Lever allows Australians to negotiate bills and debts, including parking tickets, fines, utility bills, phone bills, auto finance loans, and debt collection claims ranging from $ 2,000 to $ 5,000.

The Lever app provides consumers with education, options, and payment plans for debt settlement, with payment reminders to help them get on top of their debt.

Australians can settle a single debt through Lever for $ 11.99, or purchase an annual subscription allowing unlimited debt negotiations for $ 59.99.

Creditors and businesses can also use Lever to settle overdue accounts.

“By bringing the debt negotiation process online, we also make it easier for businesses and creditors,” McKendrick said.

“Their past due accounts can be resolved without harsh tactics, creating a more positive customer experience. “

Image provided by Levier

Lever’s survey covered a sample of 7,000 Australians.

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