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Fireside chat with James Lambridis, Founder&CEO of DebtMD

Who is James Lambridis?

Founder/CEO of DebtMD, the platform that connects people with the professional help they need to become debt-free. Formerly just a kid of Greek-American descent raised in the suburbs of Northern New Jersey.

What’s the story behind DebtMD?

Before launching DebtMD, I worked in the debt relief industry for five years, advising people on their best option for becoming debt-free from credit cards, medical bills, and student loans. After speaking to people in debt every day for five years, I began to realize that there was a serious problem when it came to finding a solution. These people were stressed out, under time constraints, and misinformed as to what their best option was to pay off their debt. This made me wonder how I could improve their situation and make it easier for them to find a solution, and that is when the idea for DebtMD was born.

What was the most difficult part of your experience in the early beginnings?

Dealing with rejection. People are going to poke as many holes as they can in your business; that’s OK. It’s not a reason to stop, but more so a reason to use the feedback as an opportunity for improvement. Failure occurs when you stop trying, so keep going.

What are you most proud of regarding your business?

Going from an idea in my mind, to a business plan, to a tangible product, to users and revenue. It took a while, but we are finally gaining traction. While it didn’t happen overnight, if you just focus on winning each day, you’ll get to where you want to be.

What is your vision for the future of DebtMD?

We have just developed a proprietary algorithm that can predict a person’s optimal debt relief option based off their unique circumstances, which will be live on the site in the coming months. Our mission is to be able to help anyone, anywhere, in any financial situation.

What’s your advice for the businesses that are trying to adapt to this economic climate?

You are not alone. Every business has been affected in some way by the pandemic. Keep pushing forward. The ones who make it out of this difficult period will be stronger and poised for big things once things are back to normal.

Please name a few technologies which have the greatest impact on your business.

Not exactly a “technology” but there has been a secular shift toward consumer use of the Internet to research and shop for personal finance products along with increased consumer interest in comparison shopping for such products. There is an abundance of readily available information that consumers use to make purchasing decisions. We want to harness this to eliminate all of the uncertainty for a person trying to become debt-free.

What books do you have on your nightstand?

  • “The Tipping Point” by Malcolm Gladwell
  • “Moneyball” by Michael Lewis
  • The entire Harry Potter series

Because of the current economic climate our publication has started a series of discussions with professional individuals meant to engage our readers with relevant companies and their representatives in order to discuss their involvement, what challenges they have had in the past and what they are looking forward to in the future. This sequence aims to present a series of experiences, recent developments, changes and downsides in terms of their business areas, as well as their goals, values, career history, the high-impact success outcomes and achievements.

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