TDX Group

Financial Difficulties Solutions

After developing TIX (The Insolvency Exchange), which has revolutionised the IVA industry and now covers over 80% of the market, we have expanded our offering to provide a complete range of solutions to deal with all financial difficulties.

Over the last decade, debt and over-indebtedness have become a reality for many consumers. Rises in mortgage borrowing costs and general costs of living have driven a massive growth in the ‘financial difficulties’ segment of consumers, creating additional complexity for those creditors trying to recover debts.

As the number of ‘third party providers’ has grown, so customers have sought the debt management plan, IVA (Individual Voluntary Arrangement) and bankruptcy solutions that these providers offer. As a result, creditors have identified a need for a more sophisticated, data based and integrated solution to manage these third party interactions.

Of all the innovations that we have driven across the debt industry, one of our biggest successes was the introduction of The Insolvency Exchange (now known as TIX). This area of our business provides an end to end insolvency management service for IVAs on behalf of creditors.

Our Debt Management Exchange (known as DMX) also acts on behalf of creditors to improve returns where consumers have entered into debt management plans.

DMX provides a technology platform and infrastructure that enable it to deliver a significantly enhanced service. The service has been well received by creditors at a time when they are being challenged to deliver both improved returns and cost efficiencies. It also supports the BBA guidelines which expect creditors to assess each customer in financial difficulty as an individual case.

The Bankruptcy Exchange is an outsourcing solution for clients to service and administer accounts subject to bankruptcy – working closely with the originating creditor, the Official Receiver and other appointed Trustees.

In all of our financial difficulties solutions, we work closely with the third parties involved to achieve improved outcomes for both the consumer and our clients. 

Our financial difficulties solutions include:

The Insolvency Exchange (TIX)

The Debt Management Exchange (DMX)

The Bankruptcy Exchange (BKX)