Creditbuilder has released a new ‘buy it now’ feature, offering a ‘sell it later’ option, which allows people to ‘buy more than you need’ and ‘sell more than they need’ for debt.
The company said it had launched the new product to help ‘people with debt who are trying to buy debt to get a lower rate’.
‘We have built our platform so that people with debt can easily make their payments and find the best rates to make the most of their credit and the money they earn,’ said Creditbuilder chief operating officer Ian MacKinnon.
‘With the ‘buy now’ option on, we can give people with low- and moderate-credit balances a better deal than they could normally get by selling debt on the market today.’
The ‘sell later’ feature gives people who are selling debt a choice of whether or not to take on the debt when it is due.’
This allows people who want to buy credit to get the debt on time, so they can make payments without having to worry about their credit ratings dropping as a result of their actions.’
Creditbuilder said it was using the new ‘Buy it Now’ option to help people who were selling debt and had outstanding debt to reduce their credit rating.
Creditbuilder said its new ‘sell when’ option could save up to 60 per cent off their average monthly payment.
‘It is a fantastic opportunity to buy a lower interest rate loan and get paid on time.
This can be used to reduce debt, help you to pay off your debts, and help you save for your future, or for something in particular, or get a better rate on your next mortgage,’ MacKampinsons said.
However, the ‘Buy It Now’ feature only works if you have a credit score, which can be viewed by accessing your credit report on the Credit Bureau website.
While Creditbuilder is offering the ‘sell now’ and the ‘wait’ features on its platform, the company is also offering a new payment plan.
The new ‘pay when’ payment plan lets people pay off a portion of their debts with a single payment.
‘You will receive a one-off payment of $15.95 and a one month subscription to our ‘Pay when’ credit card service, which lets you pay off the balance in full at the end of each month,’ the company said.
‘The payment plan will be available for a limited time and you will not be able to cancel or withdraw it.
You can find out more about this new payment program on the website.’
CreditBuilder also revealed a new service for people who don’t want to wait to pay their debts off but would like to get rid of the debt quicker.
This is a ‘debt consolidation’ plan, which is a payment plan for people with high debts and who want a quicker payoff.
It’s an option that will let you pay your debts off in full as soon as they are due.
Read more: What you need to know about credit card fees, interest rates and fees