Borden: Debt buyers receive 50 to 150 data points per consumer
Gwyneth Borden · Will These VCs Bet on Her Startup? | $100K on the Line for Remynt! · Nov 6, 2024 · at 6:37
Gwyneth Borden (founder of Remynt) describes the data availability in consumer debt purchasing on The Pitch.
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“When you buy debt, you get 50 to 150 pieces of information on that consumer.”
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More from Gwyneth Borden
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“And I am hundred percent confident That we are going to crush it and be a billion dollar company and be the third publicly traded debt buyer collector. I have no doubt in my mind.”
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“We are currently looking to close our one million dollar round at the end of this month, so that we can spend up to 250,000 dollars on buying about ten million dollars of debt value, and we anticipate recovering about 30% of that, so that would be a 10 X retur…”
Borden: Current Credit Rebuild Products Perpetuate Harm for Lower-Income Individuals
“The problem is when you're on the rebuild cycle, those products that you're being offered only help perpetuate you to be worse off, and for people who are, like, smart and, like, highly educated, yeah, they'll get it together for the most part and figure it ou…”
Gwyneth Borden: Remynt acquires debt portfolios for two cents on the dollar
“Yes, we actually are about to buy our first 1.2 million dollars of debt at the big whopping price of two cents on the dollar.”
Remynt Replaces Debt Call Centers with Marketing Automation and $10 Repayments
“No, so you opt in immediately. So you choose up front. So we make it really easy for someone who really does want to start handling this obligation. And what we do is we don't offer any preset repayment plans. We leverage marketing automation tactics, no call …”