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.

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