Computer and office equipment financer ThinkSmart has cut 17 per cent from its profit forecast for the 2008 calendar year, from $14.1 million to $12.1 million, with profit measured on an EBITDA basis.The forecast excludes start up costs in the United States. Bad debt levels remain in line with expectations, with approval rates declining by eight per cent, the company said in a media statement.The outlook for 2009 continues to be positive, with ThinkSmart having no debt, with the United States expansion to be funded internally from operating cash flow.The ThinkSmart purchasing finance product is offered in Australia through partners Dick Smith, JB Hi-Fi and Next Byte, and various other partners in New Zealand and four European countries.