Article: Fairpoint in need of some advice.

Article from:
Daily Mail (London)
Article date:
June 11, 2008
Copyright

Byline: Caroline Muspratt

THE credit crunch has put plenty of people in debt, but the numbertaking up individual voluntary arrangements to help them stave off bankruptcyhas fallen year on year, according to one debt advice firm. A profits warningfrom Fairpoint, the company formerly known as Debt Free Direct, saw thecompany's shares lose more than half their value yesterday, dropping 53p to31p.

The company said it had maintained its share of the market in the first quarterbut that IVA volumes were down 22pc year on year and it has also seen feelevels reduced.

As a result, it slashed its earnings forecast for the year to December to [pounds ...

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