Press Release
A firmer Foundation for insolvency
4 August 2006
Britain's leading charity, Foundation for Credit Counselling, has decided to extend its service to the overborrowed by offering insolvency services as well as debt management plans, advice packs and general advice. It has created a subsidiary company for the purpose which will covenant its profits to the charity.
Announcing its decision the chairman of the charity, Malcolm Hurlston, said:
"Our counsellors see around 7,500 people a month and for approximately three percent of them, an IVA is currently best advice. We shall start by offering this service to our own clients.
“Over the next few months we shall develop our own non-profit approach to insolvency which will have three main aims:
to guarantee clients best advice and continuing access to support
to create a more efficient system for lenders
to improve the working of a currently controversial market.
“It is our intention to heed closely the suggestions of the Insolvency Practices Council."
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