Monday, September 4, 2006

Debt firm profits rise

Record insolvencies boost UK debt firm's profits

Debt advice firm Debt Free Direct forecast bumper profits today as record numbers of people became insolvent.The company said it expected to bank pre-tax profits “at least 10% ahead” of the £9.8m (€7.6m) forecast by City analysts this year.It pointed to a massive increase in the number of people entering individual voluntary arrangements (IVAs), which allow people to repay a set amount of cash each month in exchange for creditors freezing interest payments on the debt.

Posted by anon @ 07:19 PM (501 views)
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