This one as a market cap around 20 million and floated only a few months back but looks to have been overlooked by the small investor and could be a sound play as a defensive in these docile markets.

We all know about the number of people in debt and over burden with credit and also the huge increase in bankrupts. I picked out Debt Free Direct about 18 months ago as I could forsee the present market conditions taking place. Accuma is cheaper than Debt Free Direct after its large rise, and as far as I can see as larger number of areas it covers.

Heres a top fund manager commentating on it.................

Allsopp told Citywire: "Accuma is a perfect play on consumer debt and the softness of the high street. It will exhibit enormous growth going forward and is cheaper than bigger rivals like Debt Free Direct."

Heres what the company does..........................

The Group is a provider of tailored financial solutions and advice to
individuals who are experiencing debt problems. The Group's principal aim is to
help individuals regain control of their financial affairs by advising them on
the most appropriate course of action based on their individual circumstances.
The Group is highly regulated as its key product, an IVA, is a legally binding,
court-approved agreement and can only be administered by Insolvency
Practitioners (IPs) - individuals licensed under the Insolvency Act 1986 to
undertake insolvency appointments.

The Group's operations comprise a personal insolvency practice specialising in
IVAs, general debt advice and the referral of individuals to other solution
providers where appropriate. The Group does not lend money, nor does it take
clients' debt on to the balance sheet, thereby limiting its business risk. The
solutions offered to individuals depend upon personal circumstances and
principally comprise the following:

Individual Voluntary Arrangement (IVA)

IVAs were introduced as part of the Insolvency Act of 1986 as an alternative to
bankruptcy, enabling individuals who were struggling with unsecured debt
payments to reach a legally binding compromise with their creditors. Penetration
of IVAs has historically been low due to the limited number of providers, cost
to the consumer and perceived complexity.

The Directors believe that this gives the Group an opportunity to build critical
mass and create barriers to entry in a relatively short timescale.

An IVA is a legally binding, court-approved agreement between the individual and
his/her creditors, under which the individual agrees to make fixed monthly
payments, generally over a five-year period.

IVAs must be supervised by an IP and have many advantages for both the debtor
and creditors. The debtor avoids bankruptcy which can be of particular
importance for home owners or those employed in occupations where bankruptcy
would be highly disadvantageous. The IVA conveys a legal obligation on the
creditors to freeze all interest and charges and, subject to adherence of the
terms by the debtor, to write off any outstanding debts after expiration of the
fixed period. An IVA therefore provides both certainty to and reduced pressure
on the individual.

From the creditors' side, the attractiveness of an IVA is the ability to
forecast a higher return than in bankruptcy combined with lower administrative
costs compared to traditional debt collection. This is driven by a legal
obligation on the part of the debtor to make fixed monthly payments, or to
introduce other funds, which have been assessed by Accuma Insolvency
Practitioners (AIP), one of the Group's trading subsidiaries, as being
affordable and sustainable.

AIP does not directly charge the debtor a fee for its services; these are
received as a priority from the contributions made by the debtor into the IVA
and are agreed and funded by the creditors. AIP charges the creditor an initial
fee of 2,500 - 3,000 as well as an average 78 monthly supervisory fee which
over the five-year period gives good cash-flow visibility. Where AIP believes an
IVA is inappropriate the following solutions will be recommended:

Informal Arrangement

AIP advises on two types of informal arrangement, managed and self-managed,
under which creditors agree to extend the repayment period for the individual.
This is not a legally binding agreement and often interest and charges continue
to be applied until the individual has repaid the amount in full. Under the
managed scheme, AIP refers individuals to a non-connected company which manages
the scheme between individual and creditor.

Re-mortgage

This solution is usually suitable for homeowners with positive equity in their
property. This has until recently been a particularly strong area of activity in
the UK with individuals re-mortgaging to consolidate high interest credit,
taking advantage of lower mortgage interest rates and the high perceived value
of their property. AIP refers such individuals to professional finance brokers
and receives a percentage of any commission payable to the finance broker.

Consolidation Loans

This is a highly competitive area of the market where individuals take out a new
loan to repay existing unsecured debts. AIP recommends professional finance
brokers and would usually receive a percentage of any commission generated.

Bankruptcy

If an individual is made bankrupt, a trustee is appointed to manage their
financial affairs and to sell any assets that may exist in order to repay their
debts. Accuma does not directly advertise or promote bankruptcy as a solution.
However, as the Group aims to provide a full range of solutions, if bankruptcy
is deemed the most appropriate option, the individual is provided with free
information detailing the actions to be undertaken. ENDS.

Well worth a punt in these markets as a defensive play.

DYOR.

cheers GF.

ACG as also been caught up in the sell off this morning. Not sure what the beta is for debtmatters but you will find the higher the beta the more the SP will drop.

cheers GF.

Tanks GF - Sorry to be naive but what's the beta???....thanks....AG

Of this paticular share AM? or in general?.

cheers GF.

GENERAL PLEASE GF - THANKS

Here you are AM....

http://help.yahoo.com/help/uk/fin/treport/treport-03.html

Details of individual stock betas can be found on digitallook.com a free site. Just register, takes about a minute.

cheers GF.

Starting to fly again AM, NICE.

cheers GF.

Moved even higher on good volume. Beginning to think someone as tipped these.

cheers GF.

Cracking news out this morning. Bullish trading update and Istitutions wanting the shares.

Accuma Group PLC
25 January 2006


Press Release 25 January 2006


Accuma Group plc

PLACING/TRADING UPDATE/EGM NOTICE

Accuma Group Plc ('Accuma', the 'Company' or the 'Group'), a leading provider of
personal debt advice specialising in Individual Voluntary Arrangements ('IVAs'),
announces that it has conditionally raised 5 million for the Group (before
expenses) ('Placing') and conditionally arranged a vendor placing of 3.5 million
existing ordinary shares by certain of the directors ('Vendor Placing') to
satisfy demand from institutional investors and increase the free float.

All of the 2.5 million new ordinary shares and 3.5 million existing ordinary
shares have been placed at a price of 2.00 per share. The new ordinary shares
are expected to be admitted to trading on AiM on 20 February 2006.

The net proceeds of the Placing receivable by the Group are expected to be
approximately 4.75 million which will be used to provide working capital and
enable the Group to:

accelerate the increases in the number of IVA's the Group is handling;

explore new marketing and sales channels to broaden the Group's routes to
market; and

make further investment in infrastructure and continue to refine its
internal systems in order to PDF1maximise efficiency.

In addition the Company has conditionally placed 3.5 million existing ordinary
shares at a price of 2.00 per share. Charles Howson (Chief Executive), Robert
Benjamin (Marketing Director) and Nicola Roberts (Executive Director), the '
Vendors' are selling, respectively, 2,865,000, 575,000 and 60,000 shares to
satisfy demand from institutional investors and to increase the free float, and
hence liquidity, of the shares. The Vendors will, following the Vendor Placing,
retain an interest in an aggregate of 8,372,938 ordinary shares in the Group
representing 33.46 per cent. of the Company's then issued share Capital

The Placing and the Vendor Placing are conditional on each other and require
shareholder approval. Holders of Ordinary Shares will be asked to approve the
Placing at an Extraordinary General Meeting to be held on 17 February 2006 at
12.00hrs at the offices of Memery Crystal, 44 Southampton Buildings, London WC2A
1AP.

In addition the Group today releases a trading update ahead of its interim
results which are expected to be announced on 30 March 2006.

Trading Highlights

Threefold growth in the number of IVA cases handled year on year

Group now trading profitably and future contracted revenue more than doubled
to 11.1m.

Full year results expected to comfortably meet market expectations

Wilson Phillips acquisition performing ahead of expectations and on target
to be fully integrated within the first half of 2006

IVA capacity more than doubled as a result of the new head office facility
and the appointment of additional Insolvency Practitioners ('IPs') and
support staff.


Charles Howson, Accuma's Chief Executive commented:

'The Placing will provide the Group with the ability to fully capitalise on our
achievements to date and I have been encouraged by the strong institutional
demand from both existing and new institutional investors. The new head office
and the appointment of further IPs will provide the springboard to take the
Group to the next stage of its development.

2005 was both a busy and successful year for Accuma as we have positioned
ourselves in the top tier of personal insolvency specialists. The Group operates
in a market that continues to experience significant growth and we are delighted
that we have continued to outpace the market and increase our market share.

Recent enquiry levels have exceeded our previous expectations and our investment
in infrastructure and operational resources over the past few months means that
we are well positioned to deal with this increased demand.

The Board remain confident of comfortably meeting market expectations for the
full year.'

Wilson Phillips

Accuma acquired Wilson Phillips Limited ('Wilson Phillips') at the end of August
2005 and the Group is pleased to announce that its integration into the Group is
proceeding very well. Wilson Phillips is benefiting considerably from being part
of the Accuma Group and will be relocated to larger modern premises at the end
of February 2006. This will enable us to recruit additional staff and increase
our capacity.

Capacity increased

The Group now employs six licensed IPs, four having been appointed since
flotation. In addition two further IPs will start working for the Group within
the first quarter of 2006. The Group now has the capacity to deal with 350 IVA
cases a month and following the appointment of the two further IPs the Group's
IPs will be able to deal with over 500 IVA cases a month. This together with
further operational appointments made in the period will not only allow the
Group to meet market expectations for 2006 but will allow our growth to be
accelerated going forwards. The total number of employees now stands at 129.

On 25 November 2005 the Group moved its head office to City Tower, Piccadilly
Plaza, Manchester. The new head office facility is over 18,000 square feet and
the Group now has sufficient office space for over 300 employees without it
incurring a material increase in office costs.

New IVA case numbers

Accuma's run rate has increased significantly over the past year as shown below:

New IVAs Monthly Case Run Rate
2004 2005
3 months to March 20 37
3 months to June 31 84
3 months to September 50 126
3 months to December 47 186

The above figures show a threefold increase in our case run rate year on year
and a fourfold increase in the last quarter.

The Group is now profitable and has increased its future contracted revenue from
5.4m at the end of July 2005 to 11.1m at the end of December 2005. This
revenue will have a significant positive effect on the profitability of the
Group as supervisory fees have an average 80% gross profit margin.

Market continues strong growth

The IVA market continues to grow at a significant pace with 2005 year on year
growth expected to show a near doubling of the 10,752 IVAs registered in 2004.
With nearly 2,500 IVAs registered in November 2005 alone, it is predicted that
2006 will see this growth continue.

Consumer debt now stands at 1.14 trillion. 192 billion of which is unsecured
with 56 billion outstanding on credit cards. Unsecured debt is forecast to
increase to over 200 billion in 2006 with a further 5-7% annual growth over the
next five years.

Recent commentary would support the forecast growth in consumer credit and the
IVA market. A You Gov poll in July 2005 reported that nearly 80% of an average
family's take home pay is required to meet living expenses.

The Bank of England's Financial Stability Review (June 05) indicated that
household debt averages 150% of annual net income (up from 100% in 1998) and
that it is likely that debt will continue to increase more rapidly than income
over the next few years.


For further information:
Accuma Group plc
Charles Howson, Chief Executive Tel: +44 (0) 0161 235 6408

charles.howson@accumagroup.com

www.accumagroup.com



Daniel Stewart & Company Plc
Tom Jenkins / Lindsay Mair / Marc Young Tel: +44 (0) 20 7776 6550

tom.jenkins@danielstewart.co.uk


cheers GF.

A corker of a day here.

cheers GF.

Yup ,looks like were on the heels of DFD.

And a lot more to come Pad.

cheers GF.

Bombing along again.

cheers GF.

Great write up in the MAIL today in finance section - quote 'these shares have further to go' - looks good for more on Monday guys and galls - while you are at it sniff the aroma of COH - coffee retail is another emerging market place - especially in the old eastern block countries - a well set up company about to take off big imho - dyor - AG

And here is that tip update from this morning's Mail...

Accuma Scales Heights Of Our Debt Mountain

Daily Mail Investment Extra by Brian O'Connor - Sat 28/01/06

When Charles Howson bought into debt advice firm Accuma in August 2003, it had just four staff. Now it has 129 and its swish new offices in Manchester's City Tower have room for 300.

The debt business is booming and Accuma is racing to keep up with demand. It helps borrowers into an Individual Voluntary Arrangement (IVA) - a five year debt work-out which, if it works properly, should enable them to keep their job and home and to start afresh.

Typically, someone owing 45,000 might pay back 400 a month over five years, a total of 24,000, with creditors agreeing to write off the rest.

Sadly, more and more people are getting into difficulty. Helplines were swamped after Christmas. The total IVAs registered last year may be double the 2004 figure of 10,752 - November alone saw 2,500.

UK consumers' debt tops 1,100bn, of which 56bn is costly credit card debt.

The shares, 90p when tipped here in May, have raced to 227p. City funds snapped up this week's placing at 200p, raising 4.75m for Accuma and 5.7m for Howson, who cut his stake to 28.5%. He says he sold because funds were clamouring for stock.

It is easy to see why. Accuma's broker Daniel Stewart expects pre-tax profits to soar from 2m in 2006 to 5.5m in 2007, doubling earnings from 7.7p to 15.4p. If it delivers, the shares drop from a steep 29 times 2006 earnings to 14.8 times for the following year.

Rival Debt Free Direct, tipped in September at 195p, is now 309p and on an even higher rating. Sceptics say taking IVA fees up front makes profits vulnerable in a slowdown.

In a typical IVA, Accuma takes a 2,800 set up fee from the lenders (nothing from the borrower), plus a management fee of 1,000 a year, spread over five years.

It books the 2,800 as profit once the IVA is agreed, though it may not collect the cash for nine months. Howson says it must account this way because of tax rules. If new business grinds to a halt, then like any growth stock, the shares could be hit.

So if you think UK consumers' debt problems are likely to disappear, stay away. Sadly that does not seem in the least likely. The shares have further to go.

Got in before me CB.

Excelent read.

cheers GF.

Bombing along, surely thats a new high?.

cheers GF.

Fantastic day.

cheers GF.

Tipped again in IC last week

Anyone have the IC article?

cheers GF.

".....There's scope for furthur gains though .At 221p,still a buy."Rgds Mad Pad.