Problematic debts are a major issue in today’s society. Therefore, it is important to signal and solve debts before these become problematic and to offer practical and effective solutions while respecting a person’s private and family life. The solutions offered must also be efficient.

By far, most of the debts accumulated by people result from taxation, traffic fines, mobile communications, healthcare insurance and energy consumption.

The Qiy Foundation intends to bring together people in debt and the creditors representing the debt categories. The network will be powered by AI and the output will be a recommendation for a solution.

The solution will indicate what a person in dept can reasonably pay periodically over a certain maximum period (for example 3 or 5 years). This would require creditors to accept the outcome of the recommendation and to accept that people who follow the recommended plan, shall be free of debt after the recommended period, even if at the end of that period, the full amount of debts has not been paid.

There will be no patronising or coercive actions by intermediary debt control agencies. Colleagues help colleagues, fellow citizens help fellow citizens, AI assists, people solve financial problems on their own.