Dec 07, 2018

NGPF Podcast: Tim Talks to LendStreet Founder and CEO Jerry Nemorin

From a young, impressionable age, Jerry Nemorin “[watched] family members’ parents play whack-a-mole with bills and debt.” He wanted to change the fate of not only his family but consumers in the U.S. who had experienced the same financial ordeal. Thus, LendStreet was born in the depths of the 2008 Recession, and it has been helping consumers manage their debts in a sustainable way whilst also helping them rebuild their credit score. Hear more about the company’s origins as well as how it differs from the “other guys.” Enjoy!


  • 0:00–1:10 Introduction
  • 1:11–3:32 Helping consumers rebuild their lives as well as credit
  • 3:33–10:45 The  personal & professional origins of LendStreet
  • 10:46–13:12 Unraveling the debt buy-back process
  • 13:13–17:05 The first cohort of consumers
  • 17:06–17:31 A word from NGPF
  • 17:32–21:24 How a zebra can change their stripes
  • 21:25–30:36 LendStreet vs. The Others: a new approach to debt management
  • 30:37–34:09 Jerry on why students should view themselves as a business of one
  • 34:10–35:42 Conclusion

Quick facts:


  • “I was 11 years old… watching family members’ parents play whack-a-mole with bills and debt. You know, pay one debt today or this month and skipping another one trying to make ends meet. What I realized from that [experience] is that these individuals wanted to make good on their debt… [but] they didn’t have the capacity.”
  • “How do we turn a consumer’s misfortune and financial stress… [turn] collections from a punitive process to one that can be a rehabilitative process?”
  • “We were able to prove that though these consumers seem subprime, our average consumer had about a 565 credit score… they performed significantly better than what their credit scores would say and a lot of that is because of the intent part.”
  • “Their credit scores today reflect an event and NOT who they are at their core.”


About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!

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