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DEMSA / OFT

We are a member of DEMSA and subscribe to the DEMSA Code of Conduct.

DEMSA is an organisation founded to monitor and maintain high standards in the Debt Management industry. All members of DEMSA are bound by the terms of the Code of Conduct established by DEMSA.

ICAEW

ICAEW

Our in house insolvency practitioner is regulated by The Institute of Chartered Accountants in England and Wales (ICAEW).

R3

R3

Our in house insolvency practitioner is a Fellow of the Association of Business Recovery Professionals (R3).

Middle-class misery

More of the UK’s middle-classes are feeling the pinch of the credit crunch according to a report aired on BBC Radio 5 live.

The figures released show that there has been an increase in the number of professionals and homeowners unable to cope with their debts in some of the more affluent areas of the UK.

Debt enquiries in Haywards Heath (Sussex) and Congleton (Cheshire) have doubled, with some Transact centres unable to cope with the demand and having to turn people away.

A company spokesperson explains that debt advisers are seeing a new type of client: “In the past it was almost uniquely people on benefits, people in social housing who went to debt advice agencies.

“Since the credit crunch started, they are seeing a big increase in professional people and homeowners coming to seek help, who have just been pushed over the edge and now can’t cope with their outgoings.

“These services now with the credit crunch are being overwhelmed by a whole new breed of debtor: middle-class people.”

Chiltern’s Nathan Gladwell says: “Trying to keep up with the Jones’ has meant that many households have lived beyond their means and amassed credit they can no longer handle.

“The lack of available credit has affected many more people than expected, including those from the middle-classes, who now have to look at alternative ways of managing their credit commitments.

“Organisations like Transact and Chiltern are there to assist with people struggling with consumer debts, however at Chiltern we ensure that customers aren’t turned away and can be helped at a time convenient to them, with no appointment necessary.”

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