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Tuesday, 2 October 2007

Credit squeeze impacts on IVA firms


Yesterday was a tough day for anyone in the IVA business. Debtmatters shares lost 65% of their value, Debt Free Direct lost 29% and 20%.

A 'hardening creditor attitude' is blamed for these valuations drops - a phrase I think we'll be hearing a lot more of over the coming months.

So who will step in to the gap filled by these companies if they do cease to exist (banks, citizen advice, charities) and why do customers not feel they can approach their main lenders directly?

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