MOUNTAIN VIEW, May 19, 2009 ? The DealKat Corporation today announced the launch of a credit card debt negotiation software platform that creates an easy-to-use, online service for consumers and creditors to more quickly and easily settle or restructure unsecured debt in a convenient, non-confrontational manner.



With the rise in defaulted loans in some segments to reach double digits, banks are bracing for an onslaught of possible write-offs. These write-offs and rising costs have minimized shareholder return for the banks, and have handicapped many banks from extending credit from the fear of accelerating defaulted loans and mounting losses.

Not only are losses spiraling, but also lawmakers are on the verge of passing a set of tough new consumer protections that could have a devastating effect on profits. Consumers at the same time have seen their options get minimized, and many struggle to make ends meet in this situation.

DealKat's innovative service gives consumers a no-risk, low-cost or no-cost solution to

resolving their financial hardships without adding to them. Unlike the approximately 2,000+ debt settlement firms, DealKat's financial service tool works on a low flat-rate pricing and takes no hidden fees or percentages.

A consumer pays only after they accept the terms offered to them by a lender. If there's no deal, the consumer pays nothing. It is completely up to the consumer whether to accept the terms extended to them by their lender. For some consumers there will be no charge at all, if the loan being negotiated is with one of our participating lenders.

The DealKat system works by utilizing highly refined mathematical algorithms that support the calculation of one-time settlements, monthly payment settlement, and general flexible pay and loan modification. Businesses can realize incremental revenues from Internet-based collections, plus immediately lower their costs by shifting from costly phone-based services. Banks would also be able to negotiate with their customers directly and get valuable analytics.

With the current economic downturn, consumers have watched their debt accumulate.

Lacking a better alternative, many people helplessly spiral deeper and deeper into a financial hole. When the only thing most want is to find a simple step-by-step solution to overhaul their finances that doesn't take a lot of time and money.

DealKat puts the tools for settling debts in an efficient, online manner in the hands of consumers. It eliminates the unpleasant confrontations and hard-ball tactics and goes straight to successful negotiation terms.

Negotiations are all online and at the consumer's convenience, without having to lose

precious time on hold, transferred or waiting to be put on hold, again. Once the terms of the credit card debt are successfully renegotiated, the consumer makes payments directly to the banks.

In addition to lessening the headaches of consumers, DealKat empowers banks with an automated system for collecting revenue that may otherwise be lost. Essentially a passive source for new income, the DealKat platform is individually customized by banks and lenders according to their unique variables. Totally flexible and responsive to changing conditions within a corporation, the DealKat Dashboard offers 24/7 online access for changing the account parameters for what a bank will and will not accept in terms of settlement.

DealKat provides a platform of a win/win scenario for banks and consumers alike. Not only is there a better scenario of keeping a customer for the banks, it also gives an opportunity for the banks to recover a greater share of the loss vs. selling of the account in default. It also provides consumers with options without damaging their credit, and possibly budgeting to successfully navigate through tough economic times. This is all done with the breakthrough product designed by DealKat.

Based in Mountain View, California, DealKat is dedicated to the financial success of

consumers and Banks by helping them negotiate in times of financial hardship, and get them back on the right track. DealKat delivers in an easy-to-use platform with convenient online account management.