Introducing Freeze Debt: The innovative Fintech app on a mission to end consumer debt in the UK
Freeze Debt, the UK’s leading debt solutions app, is on a mission to revolutionise the debt solutions industry and help the British public start their journey towards a debt-free future.
Pioneering a completely new way for consumers to find real solutions to their debt problems, Freeze Debt is the only UK-based app designed to resolve personal finance concerns through a simple, convenient process, benefitting both the user’s financial and mental wellbeing.
Innovating the FinTech sector, the service is accessed completely digitally at the user’s convenience, with the app designed to provide personalised solutions tailored specifically to the user and their personal situation. The app is available on iPhone (App Store) and Android (Google Play) and once downloaded, the customer follows the following four simple steps:
- Detail debts
- Input income
- Add assets
- Solution served
In place of a traditional Q&A telephone call, Freeze Debt uses open banking as a quick and efficient way to determine a customer’s affordability from their bank statements, skipping those uncomfortable conversations full of tricky questions and allowing the specialist to accurately determine the user’s affordability to debts.
For many, financial pressures and debt can cause shame, anxiety and stress, with countless Freeze Debt customers describing experiences of depression and insomnia, as just some of the negative side effects of their financial struggles. Freeze Debt uses technology to speed up the process of finding suitable debt solutions, and via the in-app chat function, the service aims to make it easier to talk about what can often be a sensitive subject.
Thanks to this chat function and courtesy of their team of Debt Specialists, Freeze Debt offers access to expert information, without call centers or hold music, no delays in response and no uncomfortable face to face meetings. In offering the customer confidential solutions at a time and place of their choosing, Freeze Debt strives to alleviate the emotional burden of confronting the issue, working to put their customers’ minds at ease by suggesting repayment plans and financial solutions that are both achievable and sustainable.
Harjit Moore, Freeze Debt’s co-founder and Head of Technology comments:
‘As someone that’s experienced financial hardship myself, one of the most important things to me is for consumers to understand there’s no shame in being in debt and to build a product that helped to alleviate that feeling. There’s a real taboo around debt and we want to unpick that – show to the UK that debt isn’t and shouldn’t be seen as a dirty word. With the Freeze Debt app, the service you receive is completely confidential, personalised and 100% judgment free. No matter the time of day, we’re here to help put your mind at ease by providing you with a simple, achievable solution to your money concerns in a matter of minutes. It really is as simple as that’.