The OFT ruled that, in effect, banks had been breaking the law by levying ‘unfair’ charges to fund their operations, at the expense of the ordinary financial consumer, Mr McManus maintains. And with millions of Brits facing potential bankruptcy and…

Phillip Beck, from freeivadvice.co.uk, maintains that “lax lending policies” have resulted in people gaining credit when they are clearly unsuited to such an arrangement and subsequently found themselves facing serious financial difficulties. Mr Beck commented: “The banks could very easily…

Philip Beck, who runs the online service freeivaadvice, suggests that for many British consumers bankruptcy can be the right solution to their debt management problem. And this less than traumatic experience of bankruptcy, when relayed to friends, family or colleagues…