TDX Group

Five years of solving the challenge of debt

Founded in 2004, TDX Group has been solving the challenge of debt for five years. To mark our anniversary we have highlighted some of the key events of our business and industry over these fascinating and changing times.

2004 – 2006: Times were changing – the beginning of the end of the credit boom

"TDX Group was launched with one focus – to deliver the best possible debt liquidation for creditors. We felt there was a different way to manage debt – an analytical approach which would provide better returns while also moving away from one-size-fits-all consumer processes. Working closely with our clients, we grew rapidly, expanding the products and solutions we offered as times and needs changed."

In 2004 the UK credit market was still buoyant. Losses from debt were low at 3%, IVAs were running at a rate of less than 10,000 a year and managing debt was not a focus area for most creditors. However, by the end of 2005, the situation had started to change dramatically. UK consumers increasingly struggled to repay their debts; losses jumped to over 5% and repossessions increased for the first time after years of steady decreases. The growth in debt volumes and the changing profile of the debtor required a new approach to managing debt, one that used data and analysis to get the best possible results.

From a humble beginning, at Mark Onyett’s kitchen table, TDX Group created the leading team in the industry. This team successfully developed a range of products from 2004 to 2006, most notably launching The Insolvency Exchange (TIX) – the first comprehensive IVA processing platform which revolutionised the industry – helping creditors to gain more control over this growing and complex debt solution.

Click here to read 2007 to today