'new' debt buster product?

ethereal

I saw an ad today on the Sky News website claiming that "a new product has got lenders in a spin because anyone granted one will have their debt discharged after just one year. This has been introduced to deal with the current record number of personal insolvencies in the UK - 35,574 in the north quarter of 2009 alone, according to official figures." The link takes you the Totally Money website so it would appear to me to be just something to make people fill in their questionnaire and then get contacted by one of their specialists. It's the 'just one year' bit that has me suspicious, does anyone know anything about this 'new' debt product? We already have an IVA and in about 4 1/2 years time it will be paid off. Is there any point in looking into this further? I wouldn't normally pay any attention to these kind of ads and I can't see any info on it on the main Website so if Martin hasn't mentioned it then I won't be trusting it!

tigerfeet2006

Could be a DRO. Though they don't make any money out of that. Though they may hook you in with those promises and then get you into a fee paying DMP. Don't know really.