Ironically, our target market is actually folks who are the top 60% income earners in the US. Debt and income are directly related, and higher earners have a majority share of the debt in the nation[1]. It makes sense intuitively because these are the people whom are more likely to have tertiary education degrees and a mortgage. So, I'm really trying to find the sweet spot of households with low debt-to-income ratios (high ability to repay), but also large amounts of debt (high need for a solution).
Lower income earners, with primarily unsecured credit card debt for example, are basically faced with two options - spend less or earn more. There's no panacea that software can provide, other than increasing awareness of costs and consequences.
Lower income earners, with primarily unsecured credit card debt for example, are basically faced with two options - spend less or earn more. There's no panacea that software can provide, other than increasing awareness of costs and consequences.
Thanks for the link - I'll check it out.
[1] http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.p...