ClearDebt offers one of the cheapest ways to clear debt with an IVA

John Borgars of Equity Development said that ClearDebt was cheaper than competitors which typically charge over £4,000 per case they handle.

In addition to the lower charges, he added that ClearDebt sought these fees from other sources rather than an individual already coping with debt problems.

“The real significance is that ClearDebt claims its fee from the financially sophisticated party…. instead of the debtor who knows that they are in a mess, is financially unsophisticated, usually has no means of judging the reasonability of the fee and would not feel able to reject a proposal,” wrote Mr Borgars.

Writing an analysis of the debt management services, Mr Borgars praised ClearDebt for not referring clients to debt consolidation companies which can offer interest rates up to three times what banks offer.

He also singled out the website’s ‘Debt Analyser’ tool for helping people determine the level of help they need cheaply and easily while still giving face-to-face interviews.

Mr Borgars said that it showed that ClearDebt went one step further than rivals while also maintaining a network of hundreds of insolvency practitioners.

Click here for further information on the Equity Development report.