Data from online debt advisors ClearDebt shows that one in 10 of the 1800 people who completed the firm’s online debt analyser did so between midnight and 7.00am.
70% of www.cleardebt.co.uk users submitted their information between 9.00am and 6.00pm.

“Perhaps surprisingly, those worried enough about their debt situation to visit our site in the wee small hours are actually less indebted than those who use their employers’ time to deal with their debt”. Commented ClearDebt chief executive, David Mond:

“Night owls owe an average £25,000 on credit cards and unsecured loans, whilst our daytime customers owe a little more than £27,000”.

ClearDebt plans to float this autumn.

-ENDS –

FURTHER INFORMATION:
More data and details of the report can be obtained from ClearDebt spokesman, Andrew Smith (01234 825825; 07971 272 483 andrew.smith@cleardebt.co.uk).

ClearDebt switchboard: 0161 244 5433

Note for Editors:

Cleardebt is the newest entrant to the Individual Voluntary Arrangement (IVA) market.

ClearDebt is the product of a vision to provide the most transparent and ethical service to debtors, at the lowest cost – giving many more people the opportunity to arrange an IVA than has been possible before. All customer-facing staff have been specifically trained in IVA provisions and all have insolvency practice experience: we are not a call centre, nor do we employ call centre type operatives.

ClearDebt’s principles include providing best advice wherever possible to all debtors: Where the facts indicate an IVA is the right solution we will provide advice and support – but never pressure – to the debtor. Where the facts indicate other solutions we_ll point the debtor in the right direction and where we think debt-management is the answer we will strongly suggest they will do better DIY_ing this than using a debt management consultancy and we_ll soon provide tools and links to help.

Our two-minute ClearDebt Analyser provides any debtor with clear advice on the options they have to become debt-free. If a debtor chooses to go further with ClearDebt we ask them to complete a second stage questionnaire, which enables us to make informed decisions, respond swiftly and cut out cost. We offer email and telephone help at this stage. We originally thought people would take around 45 minutes to complete this, over several sessions but our users are finding this a much faster process than that.

ClearDebt was created and is backed by David Mond of Manchester chartered accountants and insolvency practitioners, Hodgsons. David was the administrator that rescued High Street DIY chain FADS and the council member of the insolvency practitioners’ representative body (R3), who pushed the profession (particularly its legal representatives) to adopt standard terms for IVAs, making them a more useable tool for the relief of personal debt.