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Personal Debt Management UK
The consumer debt market in the UK is extremely interesting – and there are lots of reasons for material
concern and debt management. We have listed a few statistics (September 2009) to illustrate the issues:
- Total UK personal debt stands at £1.457 billion at the end of July 2009. Although the increase has slowed there is an overall increase in the last 12 months of £3.4bn.
- Average household debt in the UK is £9,226 (excluding mortgages) and £58,280 including mortgages.
- Average owed by every UK adult is £30,188 (including mortgages).
The graph below shows the growth in consumer credit.
What we are currently doing in the consumer debt market
1. Personal Debt Management Solutions and Individual Voluntary Arrangements.
• We run our personal insolvency business development under our branded banner –
Personal Debt Solutions. Please see our personal insolvency website -
www.personaldebtsolutions.co.uk
• TMP has been a leader in the Individual Voluntary Arrangement (IVA) market since
the early 1990’s when IVAs were relative legal newcomers on the personal insolvency
scene.
• Uniquely, we are running our IVA administration offshore from the UK – to cut down cost.
We run the IVAs in our Cape Town office (South Africa). This is radical as by doing this
we can double returns for creditors on the same level of contributions. This can radically
increase the returns to creditors.
2. Consumer debt lead generation
• We are actively involved in providing reduced cost consumer debt leads. Again we run
this out of our Cape Town office in a joint venture with Exclusive Leads. Please see -
3. Debt trading and debt collection
• We are actively involved in consumer debt trading – and working the debt books out –
again out of the Cape Town office.
To speak to an expert about personal debt management solutions, simply contact us.
