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Bell Pottinger North - Client News
Wednesday, May 24, 2006

The growth of the debt advisory industry is set to bring over 100 jobs to the North West, giving the region a much needed economic boost.

One week after the announcement of the forthcoming acquisition of The Debt Advisor, by Compass Finance Group plc, the company is set to launch a massive recruitment drive in the region.  The Manchester-based company, headed by Bev Budsworth, is looking for talented individuals with industry experience to help people deal with the misery caused by debt.

Bury-based Compass Finance Group plc, is a leading mortgage and loan broker group that last week announced the acquisition of the personal and business recovery consultancy, incorporating the two key brands: The Debt Advisor and The Business Debt Advisor. 

As the debt problem in the UK soars, with an estimated one million people now threatened with bankruptcy, the need for more talented and qualified people to deal with a range of tailored debt solutions including refinancing, debt reduction plans, individual voluntary arrangements (IVA's), and bankruptcy becomes evident.

All the new jobs will be located at Compass Finance’s premises at Pilsworth Bury, significantly increasing the existing 164 strong workforce.  The move will strengthen its position in the market place, as they will be one of the few companies in the sector able to offer its customers ‘True Best Advice’ backed by an in-house set of products that provides a complete range of solutions to fulfil their needs.

“This move is part of our growth strategy and highlights The Debt Advisor’s commitment to building a major presence in the region,” said Bev Budsworth, Managing Director of The Debt Advisor who will be become Managing Director of the newly formed Debt Advisory Division.

“We currently have a wealth of valuable experience and a real culture of excellence.  The team have been doing some great work, we have recently launched a debt counselling service with a psychologist, the first in the UK.  With debt, there are so many issues affecting people that you have to look at the wider picture and take a holistic approach to debt.”

More information can be found on the Web at www.thedebtadvisor.co.uk <http://www.thedebtadvisor.co.uk> or www.compassfinance.co.uk <http://www.compassfinance.co.uk> . Alternatively, call Julie Hughes of Compass Finance Group plc on 0870 979 3032.

Press contacts:

Joanne Fletcher-Wall or Alex Henshall  
Bell Pottinger North                                   
01625 506444                                   

Notes to editors
The Debt Advisor is licensed by the Insolvency Practitioners Association to offer skilled and specialist advice on personal debt. Formed in 1999, the Debt Advisor works closely with those in debt to find solutions, which can protect assets from creditors, freeze interest and charges to repay debt in five years or less. At its website - www.thedebtadvisor.co.uk <http://www.thedebtadvisor.co.uk/> - there is useful information including an online debt calculator to assist with budgeting.

Bev Budsworth is an insolvency practitioner with more than 20 years’ experience in dealing with debt issues. 

A regular media commentator, Bev has spoken on a wide-range of issues including divorce, self-certificated mortgages, DIY, mature debt and online gambling. She has been regularly quoted in The Guardian, Daily Telegraph, The Observer, Daily and Sunday Express as well as women’s magazines including Woman and Red. In the last 12 months she has offered advice on regional television news programmes and BBC local radio phone-ins.

In June 2000 she established The Debt Advisor, one of the first firms to offer comprehensive advice on all debt issues.  She had previously spent 17 years with an international firm of chartered accountants where she specialised in personal and business insolvency.

Her experience of dealing with personal debt issues led in 2005 to her being asked to join a government-led working party to look at ways of simplifying the formal procedures of helping people out of debt.

Since then she has led the way in calling for a professional personal debt/insolvency study course to be set up for all people involved in debt advice to individuals. 

She works together with a psychologist and they have developed strategies to help motivate clients to change their lifestyle.  As a busy married mother of three teenage children she understands the pressures that families face.  She believes that with a positive outlook there is always a sensible way to deal with financial difficulties and turn lives around.

Bev recently launched a campaign to bring about a greater understanding of debt and its links to depression giving debtors in the UK access to a two-pronged approach to relieve the misery caused by debt.  She is the first in the UK to offer debt advice and personal counselling under one roof.  The campaign is geared to help those who are seriously struggling with the wider effects including depression, relationship breakdown, poor work performance and associated health problems.


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