Fairpoint Group PLC (FRP)

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Company Description

Fairpoint Group PLC provides financial advice and appropriate solutions to individuals experiencing personal debt problems. It operates in three segments: Individual Arrangements (IVA), Debt Management Plans (DMP), and Claim Management. IVA consists of Group companies Debt Free Direct Limited and Clear Start UK Limited, the core debt solution brands. The product offering of these brands is an IVA which consists of a managed payment plan providing both interest and capital forgiveness and results in a consumer being debt free within five years of the agreement commencing. DMP consists of the Group company Lawrence Charlton Limited, the trading brand used to provide DMPs for consumers. DMPs are generally suitable for consumers who can repay their debts in full, if they are provided with some relief on the rate at which interest accrues on their debts. They could take 15 years to complete and offer consumers a fixed repayment discipline as well as third party management of creditors. Claims Management activities involve enhancing the financial position of Company's customers and fall into the following areas: financial claims services, managing claims on behalf of consumers; value added services, a wide range of solutions fall under this category, all of which have the primary objective of making the consumers' money go further. Examples include utility and bank account switching and refinancing solutions; web comparison services, offering comparison activities through the Group's internet portal, Moneyextra.com...