Abacus Daily Debt News

ClearDebt Snaps Up The Debt Advice Portal

ClearDebt has bought the “The Debt Advice Portal” and its associated intellectual property rights.

The Debt Advice Portal is a web-based system for financial intermediaries to aid the referral of cases to providers of IVAs and debt management plans. In addition, it provides intermediaries with information relating to debt solutions, industry news and marketing material. Since its launch in June 2007, 220 financial intermediaries have signed up as members of the portal.

ClearDebt is acquiring the Debt Advice Portal in order to use its management system to manage complex relationships with third party introducers of debt management and IVA business. In addition, the acquisition will strengthen the resources of ClearDebt in building relationships with financial intermediaries who can act as introducers of personal debt related business.

David Mond, CEO of ClearDebt, commented:
“This acquisition marks a further positive development in the strengthening of the ClearDebt offering. Whilst we now have a far more sophisticated product offering to indebted consumers, we have now matched this sophistication at a corporate level.

We have now successfully integrated both a debt management offering and a 3rd party introducer and contact management system into the Group, thereby diversifying our offering, allowing larger and more stable income streams.

As UK consumer debt continues to affect many families, ClearDebt can be a trusted partner to both consumers and creditors.”