Paydown App Launches to Help Borrowers Manage Credit Card Debt
Clay Technologies (Clay), a platform supporting tech-enabled businesses in creating and funding own-label lending programs, has partnered with Pepper Advantage, a global credit management and technology firm, to launch Paydown.com.
About Paydown
Paydown.com is a mobile-first lending platform designed to help borrowers consolidate their credit cards, overdrafts, and other high-interest debts into one personal loan with a lower interest rate, allowing users to save money and pay off debt faster.
Loan Details
- Loan amounts range from £1,000 to £25,000
- Repayment terms span from one to five years
- Funds can be used to pay off multiple high-interest debt balances
- Replaces several repayments with a single monthly installment
Eligibility and Application Process
- Applicants must be UK residents aged 18 or older
- Eligibility is assessed via a soft credit search that does not impact credit score
- Open banking technology verifies income and spending within minutes
- Enables quick affordability checks, loan approvals, and fund disbursements
- The entire application and loan management process is handled through the Paydown app
"Paydown offers borrowers a streamlined solution to manage and reduce high-interest credit debts with a lower-cost personal loan."
By consolidating multiple debts, Paydown simplifies repayment and improves financial control for users.
Author’s Summary
Paydown app simplifies UK borrowers' debt management by consolidating multiple high-interest debts into an affordable single loan with fast online approval.
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