Background

Fairpoint is a consumer financial services business focused on serving financially stressed consumers. Our mission is to become the leader in money management solutions to the financially stressed consumer.
Our business is structured into the following primary business lines in order to serve the needs of this consumer group:

  1. Individual Voluntary Arrangements (IVAs)
  2. Debt Management Plans (DMPs)
  3. Financial Services

The Fairpoint Business Model

Central to our business proposition is the provision of a no obligation review to financially stressed consumers.  All consumers who call us are entitled to this service which involves an assessment of income; expenditure; assets and liabilities. On the basis of the information provided we then offer consumers a range of potential solutions.
Our objective is to extend our product range so that we are able to serve an ever increasing proportion of consumers who request our support.

The distinguishing characteristics of our proposition are as follows:

Debt Resolution

Our assessment model is geared towards resolving consumer debt problems, rather than simply helping a consumer to live with their debt problem. To that end we work closely with consumers to ensure they maximise the amount paid back to creditors. In return we work closely with creditors to ensure that maximum value is achieved for consumers.
This approach delivers a strong dividend flow to creditors and the fastest possible debt resolution at the lowest cost for consumers.

Helping make money go further

We review a customer’s financial situation and as well as offering traditional debt solutions such as an IVA or a Debt Management Plan, we also help consumers to make their money go further by assessing opportunities to reduce typical expenditure items. For example, prices can vary widely for everyday items of expenditure such as gas and electricity tariffs, home insurance, broadband, fixed line and mobile phones. We therefore review consumer expenditure and offer the opportunity for customers to switch where it makes financial sense to do so. This service is offered to both existing and new customers.

Our Credentials

Fairpoint has been an AIM listed company since 2002. It is one of the top providers of IVAs in the UK with over 24,000 plans under management and in addition has in excess of 15,000 DMPs. Our advice process was accredited by The Debt Standard in 2008.

We provide advice to around 130,000 customers each year.