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.

Nicely marked up this morning after the carnage looks like we can push onto new highs

Yup a defiant V sign from this one and the whole market to those murdering bastards yesterday.

cheers GF.

up nearly 10%

i agree gf

Going very nicely north again.

cheers GF.

Nice trading update yesterday, glad to see it didnt dip at all after good news which suggests that investors have taken positions in this one and not speculators! Its always a bit safer when your in growth stocks like this a one way bet!

Whats your price target on this one for the next 12months GF?

Hi BB,

I never ever put a price on a stock myself. Just keep watching and hoping to be honest and never use stop losses.

Just use the experience upstairs and keep an eye on the P/E which in this case is very reasonable.

Sorry to be rather negative in that area but beleive we have some to go yet and a P/E on this stock of around 20+ unless we have bolt ons would get me 'fishing a little'.

cheers GF.

Morning GF,

This is flying along again after a small dip yesterday up 10% on all buys this morning! What did you mean about 'unless we have bolt ons would get me fishing a little? excuse my ignorance........

I think your right about targets and stop losses. Im a bit risk averse these days after getting battered this year so I tend to bank profits a bit early. I banked profits in SEO and NET recently just to be on the safe side. This one has really got the wind behind it its hard to justify getting rid of these with the growth potential it has.

cheers

Hi BB,

what I really mean is that if the P/E was to go above 20/25 and there were no signs of earnings aqcusitions to bring the P/E down I would feel it was a bit topy and might sell until the stock moved cheaper.

Anyway were well ok at the moment.

cheers Gf.

Cheers GF,

Im happy with this one, the trading update was very good reading last week. Nice to see VANE moving as well

Nice buy before the bell, was given a mention in Saturdays Telegraph ticking up nicely to a new high today

Yup looks like we are the only two in this one , shame as its risen about 50% since I first posted it here. Still theres time for more.

cheers Gf.

Well what do you know, up again. 'Loads a Money' blackbelt.

cheers GF.

They say ignorance is bliss, but I dont understand how you could be happy over looking this!! By the time people wake up to this one we will have a double bagger on our hands.

SSSSSSSSHHHHHHHHHH dont tell anybody about this one

I have'nt told anyone...wish I had taken your advice...lolololololo

Wish I had too Ethel! No spare cash and now it seems too late.

If you review the performance of DFD then there is still time to make some money on this one. Its a growth market with plenty of potential for organic and M&A growth. Ive been wanting to top up when I liquidate some cash but its never nice to buy at the top. The problem is it just keeps on rising.

Mental note, always watch any new threads set up by GF its normally a won way bet to riches DYOR of course

Tick up again today

I'm in now! expecting the markets to drop though with the latest nasty news from London no words fit these people.

welcome aboard MP, the incident wll probably just be a hoax but you cant take any chances with these guys sick bastards........getting back to Accuma, plenty of buys went through but the MMs will hold it down today until things pan out today but I hope for a good mark up tomorrow ideally through the milestone 1.50p

Going nicely again today.

SSSSSSSSSSHHHHHHHHHHH!!