Pathfinder has been launched to provide a targeted debt management service for those clients who are looking at how to manage their debt when an IVA is not suitable. It also allows introducers access to a broader product range, and in providing the solution for their client, will develop an income-generating solution for the introducer.
For those clients looking to manage their debt, Pathfinder will provide an alternative to bankruptcy and will also review the potential for the client to take out an Individual Voluntary Arrangement (IVA) if circumstances change. Pathfinder will make financial provision to repay mortgage arrears thus ensuring the client keeps their home – in this sense Pathfinder will ensure that the client’s interest is a fundamental part of the debt management solution.
Simon Walshe, managing director of X-debt, commented: “Pathfinder has been launched to provide ‘best advice’ for those clients looking to release the pressure of their debt. We have a wealth of experience in this field and will not shoe-horn a client into the only available revenue-generating product. Instead, Pathfinder will provide an additional solution and recommend the best option available. If bankruptcy remains the only option available, Pathfinder will also advise a client what to do next.
“One of the benefits of Pathfinder’s debt management service is that we do not need to charge VAT which reduces the cost to the client. Pathfinder will share the set-up fee with the introducer and if we are able to convert the debt management case into an IVA we will also share the IVA nominee fee.
“Pathfinder is about finding the right ongoing debt management solution for the client and we provide a full support service for all clients who stay with us. Pathfinder will even attend court to defend possession orders even though secured loans fall outside the remit of debt management or an IVA. No other debt management business will help a client in this way.”
