ClearScore Expands Partnership with Oakbrook for Direct Settlement Debt Consolidation Loans

Since 2016, eligible borrowers have had access to Oakbrook’s debt consolidation loans through ClearScore’s marketplace. To further enhance this collaboration and introduce the direct settlement option, which pays creditors directly on behalf of the borrower, both companies are integrating ClearScore’s Clearer technology.

ClearScore’s Clearer Technology

ClearScore has recently launched the Clearer technology with support from Fair4All Finance. This innovative solution differs from traditional methods by facilitating direct settlement of consumer debts, which helps reduce the risk that loan funds will not be used to pay off existing credit card and loan balances.

Currently, Clearer is operational on ClearScore’s platform but is expected to be adapted for third-party online marketplaces later in 2025. The addition of Oakbrook aims to increase the volume of debt consolidation loans available to users through ClearScore.

Representatives from ClearScore highlighted that partnering with Oakbrook will aid in scaling their debt consolidation loan offerings and reduce interest rates for customers, particularly those facing financial challenges. Early results from a pilot phase suggest lower annual default rates compared to standard credit score evaluations. This approach also allows lenders to issue more loans while optimizing affordability and delivering better interest rates across debt consolidation loans.

Total loss rates can be reduced with the support of Clearer technology, enhancing compliance with Consumer Duty regulations. ClearScore is dedicated to streamlining integration for lenders through a single API, enabling efficient deployment within weeks. The technology also ensures data security by encrypting information at the point of collection and leveraging bureau data to identify existing debts automatically.

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