RESUELVE TU DEUDA

RESUELVE TU DEUDA, THE CREDIT REPAIR THAT CHANGES LIVES

Resuelve tu Deuda, led by Rodrigo Nadal and Cristina Cervantes continues with its expansion plans in 2020 expecting to have more than 300 collaborators in Bogotá and Medellín.

In Mexico back in September 2009 when this story began, two Mexicans, Juan Pablo Zorrilla and Javier Velásquez, were pursuing their Master of Business Administration (MBA) degree at Stanford University. During that year Mexico was going through an economic crisis, this motivated them to be creative, and innovative in the financial sector, a dream that has now become a reality, and with which has changed more than 200,000 lives, not only in their country, but also in Colombia, Argentina, and Spain.

COLOMBIA, THEIR SECOND HOME

With their restlessness concern to explore new markets, and take the project: “Resuelve tu Deuda” to other countries, they landed in Colombia offering an alternative to the “over-debt” problems faced by thousands of Colombians; Since 2014 Colombia has become the second home of “Resuelve tu Deuda”. In the

last 10 years, it has grown exponentially, as it has become the largest credit repair company in Latin America, leading to land in Spain as the fourth expansion country. They currently have more than 20 branches around the world, and more than 1,000 collaborators, which has made it possible for them to have settled over 175

Debts paid

thousand debts. Years on market Branches (17 in Mexico, 2 in Colombia and 1 in Spain)

PROVIDE SECOND CHANCES

The mission of “Resuelve tu Deuda” is clear: to help people who want to, but can no longer pay their debts. They achieve this through a personalized plan that adapts to the opportunities, and needs of each client so that at the end of the program they pay their debts with their own money, and most importantly, understanding their current financial situation. All of this is achieved through monthly savings. “Resuelve tu Deuda” has managed to transform a small segment into traditional collection where people learn to save to pay their debts. When the client has enough money saved, Resuelve tu Deuda Negotiation Department goes into action, achieving debt settlement, with discounts that can reach up to 50%. Thus, the premise of this credit repair company is to help the financial system by generating a win-win: to begin with clients pay their debts, and start their credit

life again; at the same time, the institutions recover part of a portfolio that they already considered past due. During its 10 years of operations, Resuelve tu Deuda has managed to understand the debtor, and guide them to learn how to manage their over-debts, which on average is 10 times their salary, a worrisome figure since a debt of 18’000,000 is supported by a salary of 1,500,000. So stopping paying for services, or housing for 10 months to pay off a debt is impossible. This is the financial issue that Resuelve tu Deuda addresses, in an innovative, and inclusive way.

WHY RESUELVE TU DEUDA?

Throughout the process Resuelve tu Deuda becomes a coach for its clients, in addition to supporting them in the settlement of their debts, they initiate them in the world of savings, providing tools and tips to improve their personal finances, and their credit-reporting to the Central risk. It should be noted that the entire program is accompanied by technology developed in-house, which allows them to efficiently serve between 100 to 100 thousand clients. The advice includes an analysis of the credit bureaus, a tailored debt settlement plan, estimates of historical discounts, and subsequently the contracting of services, all through a digitally signed contract, which provides the client with guarantees on the correct compliance with the program. The tranquility of the clients is the most important thing, since the situation they are going through in most cases they face them completely alone, that is, there is not always support from the family, nor financial dependents, which causes clients to go through moments of high stress, finding in Resuelve tu Deuda an ally while improving their situation.

Its Customer Service team, made up of collaborators who specialize in maintaining motivation and discipline in each of its clients. Consistency in saving is the key, and Resuelve tu Deuda acknowledges, and guarantees all those who are paying on time, and continue with their savings plan during 12 months, and if none of its obligations have been settled, the credit repairer returns the 100% of the money, and an additional compensation.

Case of success Under the title: “Fintech in emerging markets”, Stanford University conducted a study on the success story of Resuelve tu Deuda. This is an investigation where explains how the founders of Resuelve tu Deuda, Juan Pablo Zorrilla and Javier Velásquez, built and consolidated this company, and after 10 years of operations has a presence in 4 countries. In the document, the University points out that the 2008 financial crisis strongly affected the Mexican economy, so much so that the overdue credit card portfolio rose 83% compared to the previous year, according to the Bank of Mexico. “People were struggling, they were losing their jobs and they did not have enough money to pay their debts, the NPL ratio at that time was 9.4 percent, while it is currently around 5.3. We knew there was a need and, the following year, we began operations in Mexico, ”said Zorrilla, who at 28 was one of the pioneers in the credit repair market in Mexico. “The use of other resources such as Big Data in different phases of the process has allowed our operation to be more efficient. From the planning for the rehabilitation of the user to the negotiation with the banks, all the stages are monitored and patterns are extracted with which we can better measure the needs of our clients and their real payment capacities ”, mentioned Javier Velásquez, Co-founder and CEO of Resuelve tu Deuda. In addition to being a pioneer company in the The Fintech market was also in the field of Digital Marketing, as Facebook selected her to test the WhatsApp Business pilot and she has been invited to participate in DreamForce and Google conferences in Silicon Valley.

Figures During these 10 years of operations Resuelve tu Deuda has managed to settle more than 175 thousand debts and will seek to continue expanding to more countries such as Brazil, Italy, Portugal, Peru and Chile within the next 5 years.

In its 5 years of operation in Colombia

Recovered more than 75.000 million pesos in portfolio

More than 22.000 paid debts

Since 2018 that Spain is open

More than 900 paid debts

A LOOK FROM THE PERSPECTIVE OF CRISTINA CERVANTES,

Co-General Manager Resuelve tu Deuda

For Cristina Cervantes the company has a very clear objective: to provide Seconds Opportunities to all those people they want, but can no longer afford debts.

“In 2014 we arrived in Colombia with the firm conviction to serve this market; 4.3% of the loan portfolio consumption was expired and we needed help all those people to face the problem and solve it.”, says Cervantes.

Although in Mexico the model had already been tested successfully during the previous 5 years helping more than 15,000 clients per year, they insisted on verifying that the Colombians they were also willing to save to pay their debts, and so it was: by 2015 they achieved that more than 4,500 Colombians started their credit repair process through Resuelve tu Deuda.

In 2016 the consumer loan portfolio suffered a decrease and overdue portfolio growth above 10%. More and more people are they were unable to continue paying your creditors the obligations acquired.

In that year with a growth of 100% against the previous year, the credit repairer was helping almost 10,000 people and the main factor for which they came seeking advice, it was an over-indebtedness of ten times its monthly salary, the same behavior that you had in Mexico.

“In 2017, in addition to having had a 50% growth, we started to have our first graduated clients, those clients that, after 24 months and after having settled all their obligations, they were ready to continue.

These 35-45-year-old clients barely they were beginning to build a heritage; they had not acquired their first auto loan or they had bought a house. From this one year we started reporting at the central risk positively to our clients that will present an accomplished behavior of the payment of our services, with the intention of help them improve their credit score to when they graduate from the program.” Co-General Manager of the credit repair company.

“Out of every 5 people I’ve done the following question: If I borrowed money from you person who has already stopped paying, to pay debts above, would you? all have responded to me - “From no way”. Well, between 2011 and 2012 in Mexico we decided to change that perspective and we started lending money to our clients more punctual, and the pleasant surprise has been that, If you are within your ability to pay, they are very good payers”, added the executive.

In 2018 they decided to trust their Colombian clients and began to grant credits to all those who perform specifically your savings within the program and the results have been very positive.

“We are backed by more than 5 years working in Colombian territory, where we have helped more than 50 thousand clients and recovered 75 billion pesos in debt to creditors. This would not be possible without the more than 200 collaborators day by day they show that we are the best option for all those who are looking for a second chance and for all creditors an additional alternative for the recovery of wallet without having to keep wearing your interaction with the debtor. “For the next 5 years we seek to continue growing serving more of 15,000 clients per year and close 2020 with more than 300 collaborators in our offices in Bogotá and Medellín. While technology allows us grow quickly the team remains our main investment. In order to achieve extraordinary results we need a team of the first level, that shares the Resolve culture, that you like to help and above all that you have all the desire to build a successful professional career, This is how we will get to transform in a way positive the life of all those who want but they can no longer pay. Cristina Cervantes concluded.

They support us for more than 5 years working in Colombian territory, where we have helped to more than 50 thousand clients and recovered 75 billion pesos in debt to creditors.

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