Staff cuts has been listed as to why HMRC missed out on recovering £1.1bn in outstanding tax, according to the Public Accounts Committee

Businesses are being urged to impose stricter cash and credit control procedures as a means of preventing late payments by a leading UK bank.

A recent survey has revealed that the debt collection industry is facing a "perfect storm" due to outdated methods of collection utilised by some debt collection agencies.

The latest credit card data released by FICO has revealed that credit card delinquencies have fallen for the past six months.

Business Minister Norman Lamb has announced that Payday loans lenders are to improve their codes of practice as a means to improve transparency and help to protect vulnerable lenders.

As debate about the UK housing market continues, the IMLA comments on recent findings and discussions.

Christine Lagarde, head of the International Monetary Fund, is intent on keeping up the pressure on Greece to bring its finances into order.

IMF head Christine Lagarde has said she hopes that elections in debt-stricken Greece produce a government committed to sticking to the terms of the country's rescue package.

High-profile money lending firm Wonga has been criticised by the Office of Fair Trading for using aggressive and misleading debt collection methods.

The latest House Price Index from the Office for National Statistics shows that UK house prices in March were down 0.4% on the same period in 2011.