LendKey Technologies, Inc.’s Post

Tune in for a chat with Dan Parks, EVP of Operations at Yrefy, LLC. Dan provides interesting insights into the defaulted private student loan space where many borrowers have struggled to find strategies to get out of debt. From customizing fixed rate low-interest loans to educating borrowers and combating misinformation, the solutions serve a true need in the consumer marketplace. Learn more with this week’s Receivables Roundtable hosted by Adam Parks! Watch Now - https://zurl.co/V8su Subscribe to Receivables Info, follow #ReceivablesRoundtable and don’t miss an episode as we sit down with accounts receivable industry notables to discuss topics, trends, and emerging issues that are important today. #Receivables #ReceivablesManagement #StudentLoans #FinancialLiteracy

The updated Consumer Credit Explorer is a go-to resource for visualizing trends in consumer credit. Refreshed with data up to the fourth quarter of 2023, the tool provides a way to compare and see trends in credit use (such as auto, credit card, or student loan debt) by neighborhood income, neighborhood demographic characteristics, and credit score groups across the United States. See the new Consumer Credit Explorer and learn more. https://bit.ly/4auoCIr #consumercredit #consumerdebt #credittrends

According to Knowledge Leaders Capital, a financial advisory firm, Credit Card Delinquencies 90+ days for those under 30 are at a whopping 9%, which is quite a hefty figure. Delinquencies for those under 30 are almost double the other age groups. Seriously delinquents under 40 total up to 8%. Oh, and here's the kicker – many of these folks in these age categories will also likely have to start paying their student loans again come October... Talk about adding fuel to the fire. These metrics give us a hint that consumers are splurging on credit, but it seems like we might be reaching a tipping point, causing a slowdown in the economy.

Think there’s not a solution that can meet your needs? Think again! With a short conversation, we can get to the core of your needs and customize a solution to fit them. One of our clients Yrefy came to DHx on a mission to transform private student lending. We delivered unprecedented efficiency and precision through avionics-inspired control loops, providing the competitive advantage they needed to reinvent student lending and deliver exceptional borrower value. Read more about Yrefy’s success story https://lnkd.in/e8hcNrn7

🚀 Dive into Part 3 of our Atlendis Protocol Educational Series! Uncover the game-changing Rollover Functionality in Atlendis RCL loans, offering borrowers flexibility and continuous interest for lenders. 🔗 Read more: https://lnkd.in/e6We79zy

Excited to share the new and improved Consumer Credit Explorer! This data tool is the most comprehensive, quarterly source of information on trends in consumer credit use at regional, state, and national levels. NEW to this release: + updated data through Q4 2023 + improved functionality, including the ability to compare series across two geographies + new breakouts by neighborhood majority race/ethnicity, including cuts for majority AAPI, majority Black, majority Hispanic or Latino, majority Native American, and majority White neighborhoods

How else will you find $300+ a month in savings for your users?! Payitoff’s embedded debt guidance solution can help your customers save money on their federal student loan payments. Integrate our solution seamlessly into your app and watch as your users’ financial health increases. Let’s start the discussion: https://hubs.ly/Q02BlFbx0 #fintech #savings #studentloans #debtguidance #financialwellness

Think there’s not a solution that can meet your needs? Think again! With a short conversation, we can get to the core of your needs and customize a solution to fit them. One of our clients Yrefy came to DHx on a mission to transform private student lending. We delivered unprecedented efficiency and precision through avionics-inspired control loops, providing the competitive advantage they needed to reinvent student lending and deliver exceptional borrower value. Read more about Yrefy’s success story https://lnkd.in/dwTebBHp

Student loans are a hot topic in our economy (especially during an election year). In this episode, Dan Parks with Yrefy, LLC provides some insights into options student borrowers have for refinancing their loans and helps me understand his passion for helping students. #receivables #studentloans #debtcollection #financialliteracy

🔵 Rounding out the week with some awesome borrower outcomes. 🔵 One borrower achieved savings of more than $44,000 on their federal student loan debt using Payitoff via a partner! Their monthly payment reduced from $256 to just over $50! 💭 Imagine amplifying your business outcomes by empowering your customers with intelligent, automated, debt guidance solutions from Payitoff... 💬 Talk to us to find out more about how you couldprovide 𝐭𝐫𝐮𝐥𝐲 𝐚𝐜𝐭𝐢𝐨𝐧𝐚𝐛𝐥𝐞 𝐠𝐮𝐢𝐝𝐚𝐧𝐜𝐞 to your customer to improve customer engagement, increase loyalty and provide increased opportunities for outcome amplification. 👀 Borrower savings of $323* on average per month. *Represents actual average savings of borrowers who linked their account with Payitoff and qualified for a federal repayment plan. The sample is based on an aggregated set of data representing over $1.5 billion in loan volume across 215,000+ loans on the Payitoff platform #fintech #federalstudentloans #financialwellness #debtguidance #liabilities