How they describe themselves: DebtGoal is like “Weight Watchers for debt,” a subscription service that helps consumers get out of debt faster by simply paying smarter. DebtGoal provides its members with a personalized SmartPay™ Plan to get out of debt quickly as possible. DebtGoal does this by helping members allocate interest payments more efficiently and stay on track with their plan. DebtGoal members are paying off over $1 billion in debt, and a typical member can get out of debt 16 years sooner and save $35,000 in interest.
What they think makes them better: Stress from debt affects almost half of American
households, yet remarkably there hasn’t been a healthy, consumer-friendly solution to that problem. Our research has found that for most Americans, getting out of debt isn’t about an inability to pay, but rather an inability to organize. So, we employed principles of behavioral psychology to build an online application that lets consumers organize their debt accounts and optimize their interest payments – letting them avoid debt settlement, debt consolidation, and credit counseling.
Executives: Scott Crawford, CEO (former head of Product R&D and Subscription Product
Marketing at HSBC); Igor Vaks, COO (former CIO of FreeCreditReport.com), Chris Kelly, Business Development and Marketing
Board Members: Ed Ojdana (Founder of FreeCreditReport.com), Dave Whorton (Managing
Director of Tugboat Ventures)