Debt advice firm growing fast

DEBT Advisory Line, the debt management company that employs more than 50 people in Cheadle, took on more financially stricken customers last year than in the previous two years combined.

Turnover grew by 400% to £6m in the full year to December 2008, and it saw a 328% increase in turnover in the final quarter of 2008, compared to the same period last year, according to the company.

It was on the back of such a strong performance that the Keighley-based company opened a second office in Cheadle at the end of 2008.

Since founding partners Mark Mitchell, a former regulatory consultant and chartered accountant, and corporate finance expert Ben Farrer launched Debt Advisory Line in 2006, it has grown to more than 130 staff.

Mike Ranson, business development director, said: “As the UK’s economic conditions continue to worsen, more and more consumers are finding themselves with debt problems and in need of sound advice.

“By acting ethically and providing a sympathetic, professional and constructive service to each of our clients we have been able to help countless individuals lift themselves out of debt and also provide a stable and challenging place of work for the local Keighley and Cheadle communities.”