The CEO of GetTransfer.com Outlines Repayment Solutions and Stronger Future for Drivers

When the COVID-19 pandemic disrupted the global economy, professional drivers and transportation businesses were among the hardest hit—and GetTransfer was no exception.

I know how stressful and frustrating these days have been for you and your families. Please accept my sincere apologies for the impact on your livelihoods. We understand responsibility for any inconveniences caused; however, the problems we faced were largely due to force majeure circumstances, and we did our utmost to continue bringing clients to our drivers.

Background on COVID Impact 🦠

In response to the COVID and 2022 economic fallout, we introduced a special debt repayment program initially designed to help our drivers. This initiative has already demonstrated remarkable success in settling overdue payments swiftly in selected regions.

The average timeframe is 4 weeks for drivers to complete their repayment under offered plans. 50% of participating drivers resolved their outstanding amounts within 3 weeks.

Payment plans created to help for COVID and for 2022 economic fallout debts continue to help drivers—GetTransfer.com’s flexible solutions efficiently facilitate the resolution of outstanding balances.

Today, the company continues to offer and refine these plans, ensuring its partners can operate with confidence despite lingering financial headwinds.

Challenges with the Board of Directors

After COVID began, the company ran into internal problems. Some members of the 2020-2024 Board of Directors failed to meet their responsibilities, which led to disruptions in Board operations and paralyzed the Company’s efforts to settle its debts.

The Company was frustrated by multiple setbacks arising from the organizational and financial failures of the Board of Directors in 2020-2024 during the COVID and economic fallout. I do my best to assure you that the Board of Directors 2020-2024 is set to be restructured and strengthened in 2025 by a new Board of Directors 2025, committed to averting such issues going forward. It’s important to note that the management team and minor shareholders have also suffered losses and setbacks as a direct result of the previous Board’s decisions and organisation — we find ourselves in a similar situation.

The previous Board of Directors’s insolvency to cover urgent debts led the management team to introduce a specialized debt repayment program, originally conceived to address pandemic-related difficulties. This initiative has already enabled numerous drivers to resolve outstanding balances, and we remain dedicated to improving it – so our partners can move forward with confidence despite continuing financial strains

Our Response: Accelerated Debt Repayment Plan ADRP

Below, we take a closer look at how this plan function and highlight the measures GetTransfer.com is taking to ensure such large-scale debts never happen again.

Accelerated Debt Repayment Plan ADRP –
We establish a fixed monthly payment schedule conditional upon activity.
Payments are made regularly—subject to activity, with a minimum of 5 trips per month.If more than 10 trips are completed in a month, we shorten the schedule by reducing the number of payments (increasing the monthly payment amount).
80% of our commission will go to your outstanding balance payment for future rides.
Immediate payment of 10% of the debt amount upon agreeing to the plan.

Why These Plans Are the Fastest and Most Efficient in Today’s Market 💡

• Separate financial source to fund such plans: We allocate independent financial resources to process such debts payments.
• Flexible Yet Structured: Whether you have a moderate or more substantial amount outstanding, there’s a plan that aligns with your monthly trip capacity.
• Immediate Relief: Each plan includes an upfront partial payment, helping you cover urgent fuel or vehicle costs right away.
• Steady Momentum: The ongoing 75% commission applied to your remaining balance makes a significant dent in what’s owed each week.
• Proven Track Record: Originally devised to combat COVID-era debts, the scheme has been validated by drivers across Europe, Asia, and beyond.

For carriers worried about growing deficits, GetTransfer.com’s plan stands as a clear, results-driven alternative. “It guarantees that you’ll always be on the path to fully clearing any overdue amounts,” explains one driver who successfully used Plan B.

If you are a driver facing unpaid amounts, rest assured: don’t panic—this tried-and-tested mechanism is still in place, designed to help you clear overdue balances and keep earning. Plan A or Plan B is simple, fast and more efficient than any other solution. With a solid plan and a company committed to turning the page, there’s a bright road ahead for everyone involved.

Contact Us 🤝

If GetTransfer still owes you an outstanding balance and you haven’t chosen a repayment plan yet, please contact us at restructuring@gettransfer.com. We will work with you to find the best plan and solution that meets your best interests.

Looking Ahead to 2025

As part of our ongoing management commitment to foster stability and growth, we actively collaborate with new investors to secure fresh funding in 2025. This will enable us to expedite the prompt repayment of any outstanding debts to the drivers as our first priority.

Our company is not the first one nor the last one to find itself in such a situation. Funding arrangements may take some time to finalize. During this period, debtors will be offered company shares corresponding to the debt owed and the accrued interest. We will provide detailed communication shortly. Once the debt restructuring is complete, we will reduce our commission to further benefit you.

A Proven Strategy by Major Companies 🌍

A similar approach has been successfully implemented by major companies in the past:

• General Motors (2009): Amid the financial crisis, GM converted part of its debt into shares as part of a bailout plan, reducing its debt burden and enabling recovery.
• Tesla (2013): The company used convertible bonds to transform debt into equity, securing additional capital to support rapid expansion and new model development.
• Lufthansa (2020): During the COVID-19 crisis, Lufthansa received government support, with part of its loans later converted into shares to stabilize its financial position.
• Netflix (2004): In its early years, Netflix leveraged convertible bonds to raise capital, later converting them into shares to strengthen its market position and fund its streaming service growth.

This proven strategy has helped leading companies navigate financial challenges, and we aim to apply a similar approach for optimal results.

Conclusion ✨

We are confident that these measures will help us consistently deliver exceptional service to our clients. On behalf of our founders and the entire GetTransfer management team, I want to extend my sincere gratitude for your continued support and trust.

Thank you. We keep you updated.