About Us

Industry Leaders in Debt Settlement

Purpose Financial Technologies manages a savings and payments software solution for consumers enrolled in a debt settlement program provided by Debt Settlement Companies (DSC’s).  These programs help consumers negotiate a principal reduction on outstanding debt with creditors, ultimately paying off all debt.  Consumers open a Special Purpose Account (SPA) to save funds and settle their debt.

Purpose Financial Technologies provides a technical overlay to the SPA, allowing the consumer's account balance and activity to be visible to the negotiation team at the DSC. The negotiation team monitors account balances daily, and as the balance grows, they initiate negotiations with the consumer's creditors to facilitate an agreement between the consumer and the creditor to settle outstanding debt. Once a settlement is negotiated and signed by both the program enrollee and their creditor, the DSC instructs Purpose Financial Technologies regarding the payment schedule and method to fulfill the agreed settlement. This process continues until all outstanding debt is resolved, at which point the consumer completes the program and the limited purpose account is closed.