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.

Well the buys are certainly coming in now.

cheers GF.

Suprised more arent in this one as I expect it to take off all at once.

cheers GF.

Im following this with interest GF,, but im a bit jittery to go in to anything new at present..JB..

Been away from the markets for a while, and the situation doesnt look much brighter than when I left off. This one looks great GF but I cant see myself buying anything at the mo. It does seem to have been hit by the slump like everything else but as soon as things brighten up a bit I think I'll be in.

Quite a bit of interest on other boards. Way cheaper than Debt Free Direct.

cheers GF.

Well its certainly moving now and theres a lot more to come, better get in before the herd.

cheers GF.

With you all the way gf.
Another good call.
Regards

Cheers Porky, its taken a few days to move but it looks like somone must have tipped it this morning.

cheers GF.

And the Buys continue to come in. NICE.

cheers GF.

And up she goes again. Really is a time to get on board before the advfn vultures.

cheers GF.

And we have more buyers.

cheers GF.

Another good call GF. Not in yet but watching.

MS

Yup MS, we got a late T seller and the buyers mopped up all his sell so I see no problems from the off tomorrow. Well worth having a look earlier in the thread re- to the valuation of this one and Debt Free Direct (its on the brokers note), its way cheaper and I think we have investors moving over from them.

cheers GF.

Just take their word that this is an excelent company.

We owed a fortune, over 22,000. Wed tried everything
and didnt know what else to do. Then we called Accuma.

They reduced our monthly payments from 900 to under
300, arranged for nearly 10,000 of our debt to be written
off. Stopped all interest and charges, and best of all, it
didnt cost us a penny. The service was free. Now weve
got our lives back!.


cheers GF

Go on take the plunge now or itl be you who needs this companys services.

cheers GF.

LOL, i might just do that.

A little bit of background re to this companys market...............

The Market

Historically AIP has attracted prospective clients primarily through direct
advertising in a range of media channels including press, directories, radio,
the internet and more recently television. Prospective clients call a free-phone
number that is answered by a team of experienced debt advisers who collect
personal and financial details in order to ensure that recommendations can be
made based on the most appropriate course of action considering the personal
circumstances of the individual concerned.

According to a report published by the University of Wales, commissioned by The
Insolvency Service:

'Unsecured consumer debt has risen at a compound rate of 12-15 per cent each
year since late 1997. This phenomenon is in large part a reflection of
favourable economic factors, national credit policy, social pressures to
demonstrate certain patterns of perceived material influence, and hard marketing
by lending institutions.'

The Bank of England's recent Financial Stability Review (December 2004), noted
that unsecured lending had been rising more rapidly than mortgage lending. In
November 2004 consumer debt passed the 1 trillion barrier; 182 billion of
which is outstanding on credit and store cards, personal loans and overdrafts.

According to the Financial Times, the average household now borrows 140 per cent
more than its combined income, up from 90 per cent in 1998 and from 100 per cent
at the peak of the last boom in the 1980s.

The Bank of England also believes that 'the growth rate of household
indebtedness is likely to remain strong over the next few years' and with 42 per
cent of individuals with unsecured debts experiencing repayment problems

Directors of Accuma believe that this increasing level of consumer indebtedness
creates a strong opportunity to rapidly increase market share and create
barriers to entry in a relatively short timescale.

cheers GF.

A quite day for this one and a bit of profit taking I see. The trend though is truly well and up. Certainly worth having in your portfolio as a hedge against volatile markets.

cheers GF.

Oh sorry wrong thread.

Another reason why people should be snapping up these shares..........

Bad debts stunt Barclays
MoneyAM

Barclays reported flat income growth in its core UK banking business over the first quarter.

The bank said bad debt provisions at its credit card division rose faster than expected, in a further sign that the UK consumer boom is running out of steam.

But the high street bank said overall profit growth was 'good,' with operating expenses rising in line with income. It added that it was sticking by its earlier forecast of double digit income growth for the year as a whole, with costs expected to rise in line with income.

'Barclays has delivered good profit growth in the first quarter of 2005. We have accelerated the implementation of our strategic agenda by organic investment and acquisition,' CEO, John Varley said in a statement.

The bank reiterated that it expected its acquisition of a 60% stake in South African retail bank Absa, agreed earlier this month, to contribute to group profits in the first full year following completion.

cheers GF.