Debt Advice Portal has added personal bankruptcy management firm Debt Alliance Limited to its debt solutions panel.
Debt Advice Portal says that brokers using its service can now offer clients, who are unable to get a mortgage, access to debt management services including bankruptcy.
The firm says debt management solutions are attractive to brokers under the added pressure of the Treating Customers Fairly initiative.
Nick Du Boulay, director at Debt Advice Portal, says a combination of the credit crunch and more restrictive lending practices has put increased pressure on many brokers.
He adds: “Brokers need to be sure that the advice being given to their clients is in line with the Financial Services Authority compliance policy.
“Unfortunately, bankruptcy is sometimes the last resort and, for some, the only sensible option.
Du Boulay says the appointment is a no fee earning arrangement with Debt Alliance Limited to help clients.
Jon Hollinshead, managing director at Debt Alliance Limited, says: “We feel that we simply enhance the terrific services on offer from The Deb Advice Portal, for its business partners that may not have the infrastructure or indeed resources, to deal with a personal bankruptcy management service on behalf of their clients.”