by Mike Bevel, CollectionIndustry.com
Troubles a-brewin? at Egg, an online UK bank with what looks like an overweight guinea pig for a mascot.
Announcing themselves as ?the world?s largest pure online bank,? Egg reported a 40% jump in the number of loan customers turning to debt management companies over the past three months. Levels of bad debt had been worse than expected in its loans and credit card business over the third quarter of the year.
It is expected that the total number of insolvencies this year will top 100,000.
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