Here’s how Simon Foley of the Independent reported our intentions:
Debt Free Direct faces aggressive new rival
ClearDebt was set up earlier this year by David Mond, the Manchester-based chartered accountant. He was in the news 18 months ago because he was the administrator of Fads who went on to lead a buy-out of the collapsed DIY chain for £1.
He reckons ClearDebt will charge half the fees of its nearest competitors. Instead of employing large numbers of administrative and call centre staff, the company will focus its efforts on an interactive website, building relationships with lenders and their advisers, and hiring local lawyers and insolvency practitioners on a case-by-case basis. Just five permanent staff can handle 500 cases a year, he maintains.