Newly nationalised bank Northern Rock, which has branches in Northern Ireland, is to recruit debt collectors in order to claim back money owed to it by people in mortgage arrears.

These debt recovery agents will search through records to track down borrowers who may be in danger, a newspaper reports.

Ron Sandler, executive chairman of the bank, told the Financial Times that Northern Rock intends to keep in contact with those who are struggling with repayments.

He told the newspaper: "The approach to debt management is geared around high levels of contact and a detailed understanding of the circumstances of each borrower."

The Financial Times reports that Northern Rock has seen mortgages in arrears account from 0.57 per cent in December to 0.95 per cent.

However this is partly due to changes in the way such debt is calculated.

Solicitors in Northern Ireland offer debt collection services to clients who are owed money and launch legal cases if necessary.

It has recently been revealed that debt collectors are to follow up parking tickets received in the republic by NI residents.

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