Payday loan company Wonga.com, which charges annual interest rates of up to 4,200 per cent, yesterday warned it plans to start using debt collectors

The Insolvency Service has launched a voluntary exit scheme that is expected to see 50 employees in middle manager positions leave the organisation.

January always sees a surge in gym membership. Now the OFT is cracking down on unfair terms and conditions in the long contracts people are made to sign

The Royal College of Nursing has branded a hospital’s decision to appoint debt collectors to chase salary overpayments from staff as “highly inappropriate”.

THE number of firms going bust in Scotland fell for the first time in four years in 2012 according to KPMG, in an apparent sign businesses have got used to coping with tough trading conditions.

Creditor applications to deduct debts straight from debtors’ pay packets (attachment of earnings) soared 15% in the year to 30 June 2012, according to new research.

The amount of consumer debt passed to UK debt collection agencies rose to £62 billion in the third quarter of 2012, the highest level recorded in over a year.

Some 300,000 Britons who haven’t filed their tax returns for 2011 could face “debt-recovery actions”

Debt Collection agencies are set to face tougher, more intrusive and expensive regulation under plans being drawn up in Whitehall.

AN ARMY of “zombie companies” being kept afloat by record low interest rates have hit business recovery group Begbies Traynor’s earnings in the last six months.