Customers of the former bill payment company Home Payments are to receive some of the money back which they lost when the company went into liquidation last year.

RTÉ News has learned that they will receive between 20% and 25% of the money they were owed by the company and that letters notifying them of the amounts are due to be issued in the coming days.

Home Payments ceased trading in August of last year owing its 2,300 customers more than €6m.

Around 700 of those were owed between €3,000 and €10,000 and some 23 customers were owed more than €10,000.

At the time the joint liquidators said they hoped some of the money would be returned to customers.

Home Payments was established in the 1960s and provided budgeting and bill paying services to its customers.

Following its collapse there were calls for regulation of debt management firms.

The Central Bank carried out a review of similar operations which resulted in some companies closing.

The Bank said some others are currently putting safeguards in place.

However, legislation has not yet been introduced.