Consumer debt has soared in Britain in recent years and caused problems for many people. More than 10,000 of us have got into such a financial muddle with bank loans, credit cards and store cards that we are willing to pay an average of £35 a month to AllClear Finance to help us sort it out. Founded by Nick Holmes and Miles Grady in 1998, the company does not assume a customer’s debts, but negotiates deals with creditors, whom it pays on their behalf. The customer then receives a monthly consolidated statement from AllClear. A booming store and credit-card industry, and record levels of consumer debt, have helped AllClear Finance to push up sales 91% a year, from £716,000 in 2001 to £5m in 2004.
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