Football Star Josh Allen Partners with ForgiveCo to Wipe Out Over $10 Million of Consumer Debt

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Dec 06, 2022, 08:30 ET

ForgiveCo™ is a newly launched Public Benefit Corporation that helps brands engage consumers in a new way -- by forgiving their debt

FORT COLLINS, Colo., Dec. 6, 2022 /PRNewswire/ -- Football superstar Josh Allen has joined forces with ForgiveCo™ to forgive over $10 million of consumer debt, helping Americans facing financial hardship across the country. From farmers in Josh Allen's hometown of California's Central Valley, to those in his college state of Wyoming, to the hard-working residents of his current home in Buffalo, and for average Americans across the country, debt relief is on its way.

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ForgiveCo is a new public benefit corporation (PBC) that aims to help brands do good by forgiving the debt of necessity for individuals in hardship. Brands partner with ForgiveCo to target communities of people in need and purchase their debt in bundles using the same process debt collectors use – buying debt at cents on the dollar. Rather than collecting on the obligation, they forgive it, thus reducing financial hardship for people who need help the most. ForgiveCo is the newest venture from Craig Antico for bulk debt forgiveness benefiting large pre-identified classes of individual debtors. Antico, one of Town and Country's Philanthropists of the Year in 2018, has already overseen the cancellation of billions of dollars of debt for millions of individuals and this latest venture uses debt forgiveness as a marketing service to enable corporations to relieve even broader communities of people.

"Coming from a small town and now living out my dream playing football, I recognize that I owe a debt of gratitude to the fans for their support not only each Sunday but also their continued support of my off-field endeavors," said Josh Allen. "I was honored when ForgiveCo approached me with a chance to uplift thousands of hard-working Americans in the communities that support me by alleviating the burden of debt from their lives."

"Launching ForgiveCo™ debt transformation services today with this initial $10 million of debt forgiveness, begins a new era where brands can make a life-changing impact for everyday Americans who have fallen on unfortunate debt hardship," said Craig Antico, co-founder of ForgiveCo. "Since 2012, I have helped pioneer ways to forgive debt through non-profit models, but ForgiveCo is an all-new commercial endeavor that enables brands of all budgets to do good in a new way that brings them closer to the communities and customers they serve. Our public benefit is our service, and we look for brands to use our community marketing tool to build on this moment and connect with consumers they care about."

To mark the launch of ForgiveCo, this initial $10 million of consumer debt being forgiven translates into an average of $3,847 relieved for 2,600 people. Those benefiting from debt relief will receive a branded letter from ForgiveCo and Josh Allen. Letters are expected to arrive in mailboxes by the end of the year.

ForgiveCo concentrated the forgiveness efforts in Allen's home state of California, college state of Wyoming, and professional home in Buffalo. Also targeted for debt relief were individuals within 200 zip codes where Buffalo sports fans are shown to be concentrated in fan chapters across the country.

To learn more information about ForgiveCo, please visit https://forgiveco.com/.

About ForgiveCo

ForgiveCo is a public benefit corporation (PBC) that aims to help brands do good by forgiving the debt of necessity for individuals in hardship. As a PBC, ForgiveCo has a responsibility to generate social and public good, while operating in a responsible and sustainable manner. ForgiveCo provides business advisory services to corporations for acquisition, administration and cancellation of consumer debt, and advisory services in the fields of branding, goodwill creation and bulk debt management – "Transforming debt into goodwill.™" They amplify a brand's equity by erasing billions of dollars of debt for millions of people to activate community and hope in individuals. Those holding debt cannot apply for forgiveness, nor does ForgiveCo take donations; the best way to support additional debt forgiveness it to support their brand partners. To learn more about ForgiveCo, please visit forgiveco.com and follow ForgiveCo on all major social media channels.

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