Excancel

Excancel is a debt compensation system which allows people and businesses to pay and to collect their debts avoiding the disbursement of any money. It is paid with what is collected.

Excancel achieves its purpose using its billion possible combinations which optimize the cancelled amount. As a result, each member manages to pay and collect a certain amount from their clients and suppliers aiming to improve their balance and thus managing to reduce their debt and restore in this way the credit/account**

Each user may chose to declare the debts he wants to pay or collect, and the system will only take into account the lowest amount. For example: if someone states that you owe him 2000 but you only accept the existence of a 1500 debt, the system will only take into consideration the 1500, the lowest amount.

Naturally, nobody will be able to access your accounts information as it is just a reflection of a previous commitment and therefore arranging the cancelations in the system has as much legal significance as serving a compensation system (see conditions of use of the EXCANCEL system).

In a near future, we will proceed to integrate our EXCANCEL system with Banks and credit institutions in order to ensure cancelations of bank debts possible.

How does it works?

The aim is to help people and businesses to cancel their debts, either by paying or collecting, without having to reimburse any money.

To do this, each person will have to submit through the web the debts that they want to collect and/or pay.

The system will try to find combinations between the members’ debts so the payment of a debt can be paid with the collection of another.

The success of the system will grow in accordance with the number of members inscribed.

Any debt accepted by both parties can be submitted to the system.