Is this the first signs of a credit crises ?

There have been lots of reports in the media in recent times that Credit Card debt could bring around another finical crises if the company's that lent the money could not recover the funds from the debtors in time.
PFG has suffered huge losses as it has failed to collect debt from the sub prime customer base it lends to.
- 70%
- £I.7 Billion

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