Relax Grp Share Discussion Threads

[flc] 18/8/2009 22:04

To be fair to the guys at Relax their CRM platform was probably the best in the market and would have delivered substantial reductions in customer acquisition costs for Debts UK if the business was there. Unfortunately, it's dried up so the timing could not have been worse for them. That said there will be good value in the Relax 2nd charge loan book as deliquency kicks in so many customers will be converted in to debt solutions. I still think this will be a good business once they sort their finances and down size.

[flc] 18/8/2009 17:54

Billybigguns - I agree on the timing piece. Don't hold shares in RLX but do have my own small debt management brokerage. Market is not dead but just changed a lot. Winners are those who switched on to DMPs a few years ago. FSA have also been swamping the market with their debt literature which references the likes of National Debtline, CCCS and Payplan so they will have seen the benefit.

[flc] 18/8/2009 16:26

Credit to the guys at Relax Finance. They built a nice little brokerage within 3 years and then flogged it for £3m two months before First Plus pulled out of the market, perfect timing. That said, I do know them and their systems capabilities so no reason why they can't turn it around. IMHO they are more switched on and better placed than some of the others players in the market.

[eric76] 18/8/2009 10:56

Ditto I'd been watching and would have been in if not for gold tanking yesterday.
Hope you all make it straight back on the next stock anyway.

[george57] 18/8/2009 10:47

I didn't get involved here but I feel for everyone who bought yesterday.On the statement,it looks like it is time to bail out.Good luck to holders.

[debbiegee] 18/8/2009 10:41

Sorry folks ,wished Id spotted this a day later.
G/L still waiting and all.

[still waiting] 18/8/2009 10:36

baled at 22.44p.

much better opps. elsewhere.

[gogoneko] 18/8/2009 10:02

I've been watching this as one of the sector stocks and what's happened in the past couple of months reeks of impropriety. I think that the old guard should face an inquiry of some sort and judging by the share price action, a few others as well.

[welshwiz] 18/8/2009 09:44

not the best news i have seen.

[still waiting] 18/8/2009 09:43

buyers coming in.

[debbiegee] 18/8/2009 09:39

re RNS
It would seem that mms took it down before sells hit ?
The question now is how signifantly down.
Chart shows a drop from mid eighties to mid 20s
The answer could well lie anywhere between
Personally still holding

[still waiting] 18/8/2009 09:11

wins at 30p offer now

[welshwiz] 18/8/2009 08:06

Billyboyo;if you are worried about your own personal circumstances there are other ways.Speak to a professional insolvency expert they may be of more use.
If you were "sold" an iva plan by dets that you are unhappy with then take it up with them.
A better solution probably would have been if you'd had access to a lump sum you could have offered 30% as full and final settlement at the outset.

[still waiting] 18/8/2009 08:04

L2 2vs1

just wins on the offer at 28p then scap at 31p offer.

[dickdanbayne] 18/8/2009 01:37

billy got to be honest i dont know that but there must be a quite a few that did iva's a few years ago that will be worried, i know most are property owners with stable incomes who qualify, but with many redundancies and property prices falling over the last 2 yrs or so Im sure there'll be some that cant pay. Very interesting times for the industry and one that I will follow. Not invested here but am watchin. Good luck

[billybigguns] 17/8/2009 22:33

If your 'no novice' then please can you answer my previous question regarding what happens when an IVA concludes after 5 years if the individual does not have the funds to make a full & final payment?? As nobody thus far has answered this.

[welshwiz] 17/8/2009 20:15

billyboy;your concern is very touching...i am no novice to this sector's shortcomings and have been aware of rlx for quite some time.
The weaker companies in the sector have fallen by the wayside leaving the field open to the better ones to prosper.
Rlx are well placed in my opinion to capitalise big time in the quagmire of debt the u.k has fallen into.
Buying at this price is by far a better bet than those that bought earlier and at higher prices.

[billybigguns] 17/8/2009 19:55

Welshwiz - Don't get too far ahead of yourself - Many other Debt / IVA companies have fallen by the wayside after promising so much at the outset. Those who got in on IPO, or at the peak, still have an awful long way to go to realise any return at all. IMO DYOR