Socially responsible approach, free online application for debt-reduction embraced by consumers.

SAN FRANCISCO–(BUSINESS WIRE)–GoalSpring today announced a major milestone following the December 2008 alpha launch of DebtGoal.com, an easy-to-use, free online tool helping consumers with debt to create and manage a plan to pay it down. DebtGoal.com recently passed the $100M mark of debt enrolled in its service. “We’re pleased that users are finding value in the site and using our platform to manage and pay down debt” says Scott Crawford, CEO of DebtGoal.com. “There’s $2.6 trillion of consumer debt in America today, so we have a long way to go!”

DebtGoal.com was also recently named a finalist in the Global Social Venture Competition. The mission of the GSVC is to catalyze the creation of social ventures, educate future leaders and build awareness of social enterprises. The competition supports the creation of businesses that bring about positive social change in a sustainable manner.

Says Crawford: “The majority of the 50M households in the US wanting to reduce debt also want to improve their credit score. Existing solutions, such as credit counseling, are expensive and can seriously damage people’s credit. Consumers are seeking a solution that creates positive impact, and not additional financial burden. We’ve filled that vacancy with DebtGoal.com.”

DebtGoal.com fills a previously unmet need, delivering a personalized and flexible debt pay-down plan that automatically optimizes payments – saving the average customer tens of thousands of dollars over the life of their debt balances. Crawford adds, “Contrary to what you might think, less than 10% of borrowers say their main challenge in reducing debt is insufficient cash flow and an inability to make payments. The vast majority of borrowers tell us they’re simply overwhelmed by the complexity of their finances and don’t know where to start. DebtGoal.com provides an easy tool to get organized and create a plan that they can stick to.”

About GoalSpring

GoalSpring was founded out of a desire to break the mold of previous financial services companies that push products rather than help people achieve goals. GoalSpring’s first product, DebtGoal, is an online platform that helps consumers get out of debt in a proven, healthy and sustainable way. The company received funding from NewCycle Capital, a venture capital firm that aligns with entrepreneurs who are passionate about their company’s mission and motivated by a desire to affect positive change in the world Reducing debt was the #1 personal goal for 2008 and 2009, according to CNN and Franklin Covey, and DebtGoal makes the process as easy and efficient as possible. http://www.debtgoal.com

Matter Communications, Inc.
Jackie Volovich, 415-984-6281
jackie@matternow.com

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