Cleardebt moves into the red

Sep 17, 2009

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Debt advisory firm ClearDebt moved into profit in the year to June 30 and said that continuing indebtedness despite signs of economic recovery would keep the firm busy.

Pre-tax profits totaled £407,000 compared with a loss of £697,000 over the previous year, as revenues jumped to £3.4m from £1.9m.

'Whilst the first signs of an economic recovery are now visible, many individuals remain deeply indebted and the man or woman in the street remains finely balanced on the debt tightrope,' said chief executive David Mond.

'We at ClearDebt offer an integrated debt management solution to our clients and are now seeing the steps taken over the last two years beginning to produce results.'

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