www.iva.co.uk

FYI - these companies have chosen or had there licence revoked to no longer do Debt Management Plans:

https://www.moneyadviceservice.org.uk/e ... /companies

Please note the difference between chosen and licence revoked as the list does not state which are which.

That's a lot!

A lot of rationalisation and mergers taking place plus possibly individual IP's choosing a new direction of travel.

Plus big boys taking over the little boys and "streamlining" everything ie being in it for the money and not giving a fig about the clients.

Nail on the head, Grimswold.

I would hate to be someone new going into an IVA etc. post 2016.

There are a couple of companies I would still go to --- but would be more likely to give BR a lot more attention.
Ultimately, more of those without a property or career to protect will also be looking that way and the creditors will lose out from that sector as the returns in BR are likely to be less. I have no idea, but I would hazard that the IP acting as OR will still get a good slice in the way of fees !

The big boys will be up to something, for sure. They know what to look out for and how to manipulate the market - that is how they get where they are

Given the reputational management processes that one company uses I would have to agree.

We did not renew our licence because we are not regulated any more by the FCA. The IPA and the various accountancy bodies regulate us enough. However it now ridiculous. I have over 16 years insolvency experience, have worked for HMRC and been a financial adviser but I am not allowed to advise people on debt management because as an insolvency firm we do not offer DMPs.

We do have a sister firm which can advise on debt management and holds a consumer credit licence but I am only supposed to advise on insolvency matters. Any cowboy can offer DMP advice as long as they pay thousands for the licence to the FCA.

Its happening everywhere - go to a hospital about pains in your leg and they will try and get you to see someone just specialising in the ankle, knee or hip but sometimes you need someone who sees the whole picture.