Achieve closes its first debt settlement fee securitization

$217.2 million in rated notes backed by fees earned through Achieve Debt Relief

SAN MATEO, Calif., Dec. 18, 2025 /PRNewswire/ -- Achieve, the leader in digital personal finance, announces the Dec. 18 closing of a $217.2 million debt settlement fee asset-backed securitization.

The securitization, ACHD Trust 2025-DS1, includes three classes of rated notes. The notes are secured by debt settlement fees arising under debt settlement programs for U.S. consumers.

"This inaugural securitization marks an important step forward for Achieve and the debt relief industry," said Achieve Co-Founder and Co-CEO Andrew Housser. "By securing investment-grade ratings and attracting exceptional investor demand, we believe we've unlocked a durable new capital channel that expands our ability to help consumers resolve their debt and rebuild their financial lives."

Jefferies served as Initial Purchaser and Sole Bookrunner of the deal. Kroll Bond Rating Agency assigned the following ratings: Class A: BBB- (sf),Class B: BB- (sf) and Class C: B- (sf). DBRS Morningstar assigned the following ratings: Class A: BBB (sf) and Class B: BB (sf). DBRS Morningstar was not asked to assign a rating to the Class C notes.

"By opening a new, scalable asset class backed by debt settlement fees, Achieve has expanded its capital markets reach and reinforced a long-term competitive moat," said Jason Yee, Chief Financial Officer at Achieve. "This transaction enhances our liquidity and flexibility, enabling us to serve even more everyday people seeking a trusted path toward a better financial future."

The transaction saw strong participation with demand far outpacing supply. Cumulative deal wide subscription exceeded demand by more than 11.5 times the bond issuance amount, with 25 unique investors participating in the transaction. Debt settlement fee securitizations expand upon Achieve's robust and diverse capital markets capabilities, which include investment-grade rated personal loan and home equity loan securitizations, as well as a variety of personal loan, home equity loan and debt settlement fee warehousing and other financing transactions.

This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to buy the notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("Securities Act"), or the securities laws of any jurisdiction. The notes were offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons pursuant to Regulation S under the Securities Act.

About Achieve

Achieve, THE digital personal finance company, helps everyday people get on, and stay on, the path to a better financial future. Achieve pairs proprietary data and analytics with personalized support to offer personal loans, home equity loans, debt relief and debt consolidation, along with financial tips and education and free mobile apps: Achieve MoLO® (Money Left Over) and Achieve GOOD™ (Get Out Of Debt). Achieve has 2,200 dedicated teammates across the country, with hubs in Arizona, California, Florida and Texas. Achieve is frequently recognized as a Best Place to Work.

Achieve refers to the global organization and may denote one or more affiliates of Achieve Company, including Achieve.com, Equal Housing Opportunity (NMLS ID #138464); Achieve Home Loans, Equal Housing Opportunity (NMLS ID #1810501); Achieve Personal Loans (NMLS ID #227977); Achieve Debt Relief (NMLS ID # 1248929); and Freedom Financial Asset Management (CRD #170229).

Contacts
Austin Kilgore
[email protected]
214-908-5097

Elina Tarkazikis
[email protected]

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SOURCE Achieve