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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by BankruptcyNews[/i] [br]ClearDebt pain as IVAs are hit Insolvency firm ClearDebt today reported widening losses, but said there was 'light at the end of the tunnel' for the beleaguered industry. Losses for the year to 30 June hit £1m against £698,000 in the 18 months to June 2006 as banks clamped down on individual voluntary arrangements (IVAs). Insolvency firms have been forced to alter the structure of IVAs, which are taken on by people who cannot manage their debt repayments but want to avoid bankruptcy. Shares in the sector crashed yesterday after a warning by Debtmatters. ClearDebt today said that although the number of IVAs it issued rose from 179 to 204 last year, the total fell from 74 in the first quarter to 31 in the last. Chief executive David Mond said: 'Initial impressive success has been pulled back by the turmoil created by the major creditors' attitude to many IVA providers and has effectively capped the industry's capabilities. 'However, we believe there is light at the end of the tunnel.' Source: thisismoney.co.uk See my Blogs: http://bankruptcynews.blogs.bankruptcyhelp.org.uk [/quote]   Check here to include your profile signature.