America is in a debt crisis. There are over 200 million Americans burdened with some form of debt, ranging from student loans, mortgages, credit cards and more. More than 60% of these debt-burdened people are living paycheck-to-paycheck, often stuck in the difficult balancing act of managing their living expenses and past debt. As a result, these people struggle to conquer their debt and establish some form of financial health and stability.

While this national problem is what drives our mission to help the millions of Americans out of debt, the real inspiration for the company began on a much more personal note for EarnUp founders Matthew Cooper and Nadim Homsany.

Starting EarnUp

“We were initially inspired to start EarnUp after witnessing our parents endure a lifetime of loan frustrations,” said Matthew, “My parents got their first home loan in the 80s and after a standard 30 year loan they should be debt free now. Unfortunately this wasn’t the case.”

Due to a host of reasons—including complex systems, awful service, and poor advice from trusted advisors—Matthew’s parents were still heavily indebted while heading into retirement.

For Nadim’s parents, it was a very similar story. A well-educated immigrant moves to America to provide better opportunities for his wife and children. One of their first steps was taking out a mortgage to purchase a home.

And like Matthew’s parents, they are still working towards paying off their loans several years after the original loan term should have been completed.

Looking at both of their parents’ financial situations, Matthew and Nadim were forced to ask themselves: How can people, who are by all measures financially successful, still be burdened by debt?

As they looked deeper into the problem, they discovered that their stories are not unique. They began to see how massive the debt problem is in America, and how it affects a majority of Americans regardless of socioeconomic level.

The EarnUp Mission

From this, EarnUp was born. Our mission is to help the over 200 million indebted Americans better manage their loans and get out of debt faster. We recognize that the current financial systems are broken in many ways, and as a result, millions of Americans are struggling to navigate the path to financial wellness.

This is where EarnUp comes in. We want to help people better manage their debt by making the process of prioritizing and paying your loans as simple as possible.

We believe that if you make it ridiculously easy for people to make their payments, they will be able to get out of debt faster.” — Nadim Homsany

Are you struggling with debt? We want to help you conquer that debt and get on a path to financial stability. You can learn more here.