Another IVA Business joins the Listed Party
The Money Debt and Credit group (MDCG) started to trade on the stock market today. The organisation has a capitalisation of £10million and raised £3million (gross) through its recent flotation.
This again increases the number of listed companies dealing in IVAs and it will be interesting to see what happens to the industry in the coming months. As you may have heard, the various government bodies have said they will not regulate the market for now and this has led to a self-regulatory body being formed.
Being wary that the dramatic increase in IVAs is increasing their write offs, the banks are being very vocal about the industry and the IVA industry is ping-ponging the comments back by saying the banks should lend more responsibly in the first place.
As most of the companies involved in IVAs are pretty small fry, it is an 
absolute certainty that there will be some industry consolidation in the next few months.
For your interest, I’ve listed out all the LSE companies I could find dealing in IVAs and I’ve attempted to add a rough percentage of how much they say their turnover has increased in the last reporting period and also included a listing date. Some of the businesses deal purely in IVAs, whereas others complement them by dealing in things like Secured Loans. You can see from the list that nearly all of them were floated quite recently.
Debts.co.uk (DETS) - Listed May 2006 - turnover up 79.3%
Accuma Group PLC (ACG) - Listed March 2006 - turnover up 250%
Debt Free Direct (DFD) - Listed December 2002 - turnover up 91% (Interims)
Debtmatters Group (DEBT) - Listed June 2005 - 465% (Interims)
Cleardebt Group PLC (CLEA) - Listed February 2006 - difficult to establish turnover increase, but impressive month on month growth in IVAs. Cleardebt was renamed from Carrwood PLC.
Invocas Group PLC (INVO) - March 2006 - 50% increase (Interims). Deals in Protected Trust Deeds (Scottish equivilant of IVAs)
Compass Finance Group PLC to rename to the Debt Advisor Group. Recently entered IVA market through an acquisition earlier this year.
