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Very interesting idea, but doesn't another YC company (ReadyForZero) already do something similar? It sounds like Debteye has more options to negotiate/restructure debt, but I see a lot of overlap here.

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YC isn't afraid to invest in companies that do similar things - both ZumoDrive and DropBox were YC companies.

For the record, ZumoDrive didn't do ZumoDrive when they were in YC. They did Versionate, a versioned Wiki.

Your observation does still stand, though.

We target a slightly different market than ReadyForZero, RFZ targets customers who are trying to set up a structured approach to paying off debts on their own, whereas we help guide those customers who may not have the finance resources to be able to pay off on their own.

Right. I use RFZ and I assume only people who are current and can afford making more than minimum payments can take full advantage of RFZ.

Also, it currently focuses on getting rid of Credit Card debt, using a high-interest-first strategy.

And speaking of RFZ, I had to log on to RFZ in order to fill out my cc debts on Debteye[1], whereas on RFZ I just gave them my login information and they "figured" it all out. :D

[1] I even filled in my, shudder, SSN on debteye.

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