Debt firm expands with 200 jobs

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A firm specialising in advising people who are in debt says it is creating 200 jobs at a call centre in Swansea.

Financial Services Data Management is expanding into new offices at Oldway House in the city centre.

It says rises in the levels of debt in the UK and the global credit crunch are behind a rapid expansion in demand for its services.

The firm, which currently employs just over 100 staff, said recruitment for the new posts was starting immediately.

Managing director Matthew Ash said the company offered free, no obligation, financial advice to people concerned about their financial situation.

Callers range from students with debt to people unable to make store card or overdraft payments

Mr Ash said during the last quarter of 2007 staff spoke to 10,000 people a week and advised 8,000 people on options available to them.

The company predicts these figures will triple over the next 12 months.

He said the firm made its money from referral fees from debt management companies if callers chose to use one.

The level of personal debt in the UK is estimated at Â£1.4 trillion with 107,000 people becoming insolvent in 2006, an annual rise of 59%.

"We are moving into a building that has double the capacity," said Mr Ash.

"We are also negotiating over taking a further two floors in the building."