ClearScore partners with Stream to automate debt repayments for UK workers

ClearScore has partnered with Stream to bring its automated debt consolidation technology, Clearer, to Stream’s workplace loans in the UK. 

The system makes sure that when workers take out a consolidation loan, the money is automatically used to pay off their existing debts. 

This means workers can deal with one loan instead of juggling several, with repayments coming straight out of their wages.

Stream gives workers access to financial tools, including the chance to get paid when they choose, save, budget and apply for affordable credit. 

With backing from Fair4All Finance, Stream said this move will help three million UK workers use Clearer to pay off and manage their debts.

Tom Markham, chief commercial officer at ClearScore, said: “Debt consolidation can be a powerful tool for people trying to manage multiple repayments, but historically there has been no guarantee that funds are used to pay down debt. 

“Clearer solves that problem by automating repayment at source. 

“Partnering with Stream means we can bring this technology to workers through their employers, with the consolidated loan repaid through payroll and simplifying the process.”