CONYERS, Ga., July 5, 2023 /PRNewswire/ — Over the last decade, Black-owned fintech company Novae has won numerous awards for customer experience, rapid growth, and innovation in the direct sales and finance space. Now they have a new offering: a program to help consumers get out of debt by obtaining partial debt forgiveness and more favorable repayment terms.
While the new Novae product may sound too good to be true, it’s based on longstanding practices within the debt resolution industry. Creditors often agree to accept less than the original amount of a debt in hopes of getting some payment rather than no payment from financially strapped consumers.
These agreements often involve creditors selling debt to a debt collection agency fo…
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