No. Lorica is not debt settlement, a debt-management plan (DMP), or credit repair. It's an automation tool that helps you pay your own debts, in full, on a schedule you set.
Here's the difference, plainly:
Debt settlement negotiates with creditors to pay less than you owe — often by having you stop paying and save up a lump sum. Lorica never does this. You pay your balances in full, and we never tell you to stop paying anyone.
A debt-management plan (DMP) routes your payments through a credit-counseling agency that manages your accounts for you. Lorica isn't an agency and doesn't manage your accounts. You stay in control of every account.
Credit repair promises to change what's on your credit report. Lorica makes no such promises and doesn't touch your credit report.
Lorica doesn't negotiate
Lorica never contacts your creditors to negotiate. No calls about your interest rate, no requests to reduce what you owe, no changes to your terms. The only thing Lorica sends a creditor is a payment. (See "Does Lorica negotiate with your creditors?")
What Lorica actually does
You connect your bank and your debts, choose how much to put toward them each cycle, and Lorica schedules the payments automatically — highest-interest balance first, if you choose the avalanche order. The money moves through a clearing account in your own name and out to your creditors. Lorica never holds your money.
In short: you're paying off your own debt, faster and with less effort. Lorica is the automation — not a middleman between you and what you owe.