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Commercial Credit News
|Harrington Brooks buys Debt Lifeboat business|
|Wednesday, 04 May 2016|
Harrington Brooks, the leading debt management firm and IVA provider, is pleased to announce the acquisition of Debt Lifeboat’s customers after the company’s decision to withdraw from the IVA market.
The acquisition reinforces Harrington Brooks’ existing successful insolvency practice, which has been an active service provider in the market for over 10 years. The firm currently supervises over 23,000 IVAs to help customers manage and get out of debt.
1,000 of Debt Lifeboat’s customers and their IVA agreements have been transferred to be managed by Harrington Brooks. The process of notifying Debt Lifeboat customers is underway, to inform them of the transfer and to reassure them that the transfer will not affect their IVA. As customers are welcomed, they will also receive a full review to ensure their agreements are fully up to date and appropriate.
Harrington Brooks’ Customer Support Team will contact the new customers over the forthcoming weeks to introduce themselves and answer any queries they may have about the transfer of their arrangements.
All new customers will also benefit from Harrington Brooks’ free legal advice and benefit checking services, which last year amounted to £1.6m of free advice.
Commenting on the acquisition, Matthew Cheetham, CEO of Harrington Brooks, said: “At Harrington Brooks we understand that people fall into money problems for a whole variety of reasons and, often, there isn’t a one size fits all solution to the unique underlying reasons for indebtedness. We put our customers first, and we will ensure that Debt Lifeboat’s customers are protected as we honour the terms of their existing IVAs.
“This important acquisition demonstrates the strength of our business and our offering to customers, and marks the latest step in the growth of Harrington Brooks’ customer base.”
Harrington Brooks IVA is a trading style of One Advice Ltd. A wholly owned company of the One Advice Group Ltd.
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