
In a Nutshell: No one looks forward to a phone call from a debt collector. But Remynt brings empathy to collection practices and offers educational resources that show consumers how to repay their debts while building their credit. The company uses customer feedback to develop strategies that help consumers overcome financial challenges and make wise decisions with money.
Many people consider Michael Jordan to be the greatest basketball player of all time. But Jordan, who led the Chicago Bulls to six NBA championships in the 1990s, saw his basketball career get off to an inauspicious start when he failed to make his high school’s varsity basketball team as a sophomore.
Determined to succeed, Jordan improved his skills and became a star player for the final two years of his high school career. Sometimes, to be successful in life, people need a second or third chance.
Remynt gives consumers an opportunity to repair their finances by helping them build their credit while paying down debts. We caught up with Gwyneth Borden, Remynt’s Founder and CEO, to learn how the company assists consumers in regaining their financial footing.

Remynt was born out of Borden’s personal experiences with climbing out of debt and rebuilding credit. Borden told us many people encounter a financial challenge in life that starts small but causes significant debt problems over time.
“Typically, people with debt troubles had something bad happen to them, such as losing their job or getting an illness that required them to cut back on the number of hours they worked,” Borden told us. “And when they make a mistake with one creditor and go into default, then another creditor notices and they shut down your account. It really can cause a domino effect.”
Remynt provides advice to help customers overcome financial obstacles. The company connects consumers with financial experts so they can learn about the psychological and emotional effects of money. Borden told us that some people don’t use sound logic when it comes to making decisions about money.
“Everybody knows it’s bad to carry debt, but it gives people happiness at times to be able to give someone a special gift — even if it’s a gift you can’t afford,” Borden told us. “Are you going to be happier in your life sitting at home and missing an experience with your friends just to avoid going into debt? There’s a lot of psychology around people and their choices with money, and we really think about that.”
Rewarding Consumers for Building Credit
Anyone can get into debt if they don’t live within their means — regardless of how much money they earn. Borden told us that people from all walks of life live paycheck to paycheck. And people who don’t have sufficient savings can experience financial disaster if an unplanned expense or emergency occurs.
Consumers can use tools such as financial calculators to understand how different money management strategies can influence their future finances. But Borden told us that critics of personal financial tools argue that they don’t reach the people who need them.
Remynt builds financial tools into its products so customers who’ve demonstrated a need for financial assistance can access services that can help improve their financial situations.

“Our hope and goal is to see amazing improvements in people not only in getting out of debt, but in actually rebuilding their overall financial health,” Borden told us. “Many people haven’t been trained in personal finances or equipped with the tools they need for success. So we give them those tools so they can make advances in managing their money.”
In its early days, Remynt focused on traditional debt collection practices before expanding its services to help consumers build their credit. Consumers who set up a repayment plan can rebuild their credit through their debt payments by opting into a credit builder line that only applies to their debt payments.
Remynt partners with a company that reports positive payment history to the credit bureaus.
The company is also preparing to launch a charge card in 2025.
“The whole idea is that the consumer is working toward having access to the charge card and rebuilding their credit through the repayment process,” Borden told us. “The card then becomes available to them once they fully resolve their debt. We chose to offer a charge card instead of a credit card because we don’t want people to get back in the cycle of revolving debt.”
Bringing Empathy to Collecting Debt
Some debt collectors have a negative reputation for attempting to coerce consumers to repay debt even when they don’t have the funds to do so. But Remynt follows a different approach when it comes to collecting debt. Borden told us the company treats borrowers with empathy and gives them options so they can repay their debt without further disrupting their financial lives.
Remynt’s approach to collections can help lenders regain customers who take steps to improve their financial health. Borden told us the company works with creditors and consumers to create financial resiliency that enables consumers to handle credit responsibility.
“Collections is a hard space, but we can be a partner to help really reach consumers in the channels they prefer to be reached through,” Borden told us. “A lot of institutions, especially credit unions and smaller banks, don’t have very sophisticated collections departments. And, in times when delinquencies are high, some credit unions don’t have enough support internally to effectively manage their collections processes.”
Business owners can attest to the fact that it’s often cheaper to retain a customer than to acquire a new one. Remynt’s recovery efforts can reduce the cost of winning a customer back.
Remynt buys debt and manages collection efforts to learn how to build a better product it can promote to credit unions and other businesses.
“Consumer debt is fairly inexpensive to purchase, so recovering almost any amount of debt can yield a pretty decent profit,” Borden told us. “Collecting debt also helps us learn what a consumer’s pain points are and how they’re responding to different financial literacy efforts.”
Customer Feedback Informs Strategy
Businesses that listen to customer feedback can quickly respond to changes in consumer tastes. Remynt measures customer engagement by tracking several engagement and conversion metrics, including what channels people choose to unsubscribe from or act on. Borden told us she’s fascinated by customer behavior and learning which channels people prefer to receive communications from Remynt.

Customer feedback also informs the company’s financial literacy programs. Borden told us that traditional financial literacy has struggled to gain traction with certain audiences, even though people can find a plethora of financial education online.
“The biggest challenge in financial literacy is that everyone knows you should have a budget and not carry debt, but they don’t take the steps to align their actions with that,” Borden told us. “I aim to learn more about what motivates people to make financial decisions. Then we can help them deal with whatever it is in their lives that stops them from making healthy choices.”
Though the debt collection industry suffers at times from poor public perception, Borden told us Remynt’s work helps people see that paying down debt can be empowering.
“There are many things we’re trying to accomplish in the future,” Borden told us. “We do really hope to be able to change the industry, and we truly feel we can be instrumental in doing that.”