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What is happening in the consumer debt market?
The consumer debt market in the UK is extremely interesting – and there are lots of reasons for material
concern. We have listed a few statistics (January 2007) to illustrate the issues:
• Total UK personal debt has exceeded £1.24 trillion and at the end of November 2006 it stood
at £1,278bn. The growth rate increased to 10.4% for the previous 12 months which equates to
an increase of £111bn.
• Average household debt in the UK is £8,765 (excluding mortgages) and £52,811 including
mortgages.
• Average owed by every UK adult is £27,180 (including mortgages).
The graph below shows the growth in consumer credit.
What we are currently doing in the consumer debt market
1. Personal Debt 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.
We were voted
"Leading Independent Turnaround Firm in
the UK"
Inside Guide
TMP UK
Level 25 Tower 42
25 Old Broad Street
London EC2N 1HQ
United Kingdom
T: +44 (0)20 7496 1010
F: +44 (0)20 7374 8341
TMP SA
Ruskin House
Roeland Street
Cape Town 8001
South Africa
T: +27 21 461 2647
F: +27 (21) 461 2642
Map Link
