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ReadyForZero Helps Reduce Bank Credit Losses By Working With Borrowers

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Next this afternoon is ReadyForZero, a startup that works with borrowers to help them pay down their debts:

“ReadyForZero’s online program reduces bank credit losses and lowers collection costs by helping average borrowers better understand, manage, and pay down their debts. By using real-time data about a person’s financial situation, ReadyForZero delivers personalized payment and behavioral recommendations that can immediately save people time and money while at the same time improving retention and reducing credit losses.”

Product Launched: October 2011 

HQ Location: San Francisco, CA 

Company Founded: May 2010 
Metrics: ReadyForZero has raised $4.7M in venture funding and has 6 employees. Active users are paying down debt twice as fast as others. ReadyForZero was founded by Rod Ebrahimi and Ignacio Thayer in the Summer of 2010 as part of Y Combinator. The site has received international media coverage since its debut 6 months ago and is helping its users pay down over $55M in credit card debt.
Presenting Rod Ebrahimi (co-founder & CEO) & Ignacio Thayer (co-founder & CTO)