The personal insolvency market faces further consolidation due to tensions around debt management schemes between providers, regulators and creditors.

Creditors remain nervous about the lack of a protocol for Debt Management Plans (DMPs) and regulation of the personal insolvency sector is set to intensify further in future, according to a panel of personal insolvency practitioners (IPs) and creditors speaking at a debate hosted by Credit Today’s sister title, Insolvency Today.

At the same time, tensions remain high between the Insolvency Service and IPs over the distribution of personal debt cases, with Mark Sands, national head of bankruptcy at RSM Tenon, arguing that the Insolvency Service is holding onto some bankruptcy cases which private IPs are well placed to handle.

All these factors will combine to create a...Read more on this story--> Personal insolvency market set to shrink