Home Payments Limited ceases trading

Dublin-based company Home Payments Limited has ceased operating.

Homepayments.ie helped households to budget and spread out payments.

The company says it is acting to protect its customers and to secure customers' deposits.

The directors of the Rathmines organisation say the shutdown will come with immediate effect.

"The directors have also been advised that this course of action is in the best interests of all their customers and creditors," said a statement on the website.

"The company is acting to protect its customers and to secure customers deposits."

They have blamed failed investments in the property sector for the closure, and say they are currently in discussions with lenders to restructure their debt.

The National Consumer Agency has urged all customers of the company to contact their bank immediately to cancel any direct debits to Home Payments.