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Advice firm Debt Free Direct expects to beat profit forecasts of £9.8 million by
at least 10%, reflecting the problems facing thousands of consumers in heavy
debt.
Research has shown that the number of people concerned about managing their
debts has risen significantly in recent years as more and more people struggle
to pay off loans and credit card bills at a time that utility bills, inflation
and interest rates are rising.
The company, which rearranges debt payments and drafts IVAs, is the latest
specialist business to highlight the increase in the number of people entering
into the arrangements.
Debt Free Direct issued an average of 551 IVAs each month between May and July,
an increase of 196% on the same period last year.
In August, it issued a record 607.
The Insolvency Practitioners Association has urged the government to review
regulations governing the handling of cases.
It claims that, although IVAs must be signed off by regulated insolvency
practitioners, much of the initial advice and caseload is handled by unregulated
call centre workers.
The company has 20% of the IVA market.
Source:
Getting Paid
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