THE collapse of Home Payments Ltd highlighted the urgent need to regulate commercial fee-charging debt management firms.

BANKS, insurance and utility companies have agreed to deal sympathetically with customers who have missed payments as a result of the closure of an unregulated firm which consolidated its clients bills and made payments on their behalf for a fee.

The bills of customers of defunct debt-management company Home Payments have been paid up to the end of July, the National Consumer Agency has confirmed.

LIQUIDATORS have taken control of the assets, records and bank accounts of Home Payments.

The National Consumer Agency (NCA) today said customers of Home Payments Ltd. should immediately contact their bank to cancel any direct debits to this company.