The biggest debt management businesses in the UK have set-up a forum to
provide a voice for the growing industry, which will be independently regulated
by a body established by the
Practitioners’ Association (IPA).
Accountancy Age had previously revealed
that the IPA had been in talks with debt management businesses in a bid to
create more regulation for the industry, which has grown
massively with the rise of struggling debt-ridden consumers.
Known as the Debt Resolution Forum (DRF), the board undertook its first
meeting on 2 November, and has set out plans for the IPA to provide admin
support for the DRF. It will also help create another organisation to audit
Some 20 organisations have formed the forum, with another seven announcing
their willingness to participate.
A&E Business Solutions
All Clear Finance
Baines & Ernst
Church Wood Financial Services
Compass Debt Counsellors
Debt Clear Direct
Debt Connect (UK) Ltd.
Debt Release Direct
Debt Matters Group
Money Debtand Credit
Unity Debt Solutions
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children