In what can only be described as a testament to the times, one of the countries largest debt collection agencies (Equidebt) is readying for flotation on the AIM stock market.

Incidentally, the floatation will be recorded as the first ever for a UK debt collection agency, with the company hoping to raise 75 million from the listing, for which to further grow its business.

The firm’s primary activity is centred on the acquisition of huge debts from national banks, which it attains for a small percentage of the value. The company then pursues debtors in an attempt to retrieve outstanding monies, from which it makes its profit.

The UK debt market is thriving at the moment, as more and more consumers fall further into the red. Recent figures suggest that the current level of outstanding unsecured credit in the UK is valued at around £200 billion, debt collections agencies operate in a market valued at approximately 10% of that value (£20 billion).

There are numerous reasons for the sharp rise in consumer debt, however heavy reliance on credit and volatile economic conditions are thought to be the main contributors.