Responding to reports that most major banks had seen bad debt levels rise by about a third, the party’s financial spokesman Vince Cable said this was partly due to irresponsible lending. “The irresponsible behaviour on the part of lenders and…

Office of Fair Trading calls to reduce penalty charges from £22 to £12, a rise to nearly a £1 billion in bad debt at each major bank and other losses are being blamed for the likely charge. “[Banks] are also…

Around 1.1 million people told the poll that declaring themselves bankrupt or taking out an individual voluntary agreement (IVA) was their only option out of debt. Yet this is coupled with a rise in the number of people taking out…

Dyfrig John, director and chief executive of HSBC bank, says that with personal indebtedness in the UK standing at “pretty serious” levels, many people would be adversely affected by an increase in the underlying cost of borrowing. Mr John declined…

David Drage, 57, was found dead in his car in Gatwick Airport on February 22nd, a day before he was due to meet with auditors and his employers to discuss the missing money. The inquest in Horsham, West Sussex, heard…

Siding with Shakespeare’s Polonius, who advised against both lending and borrowing, Datamonitor claims that the situation caused by irresponsible lending and borrowing could soon become critical. Although the report’s author blamed borrowers’ lack of adequate debt management for much of…

Lloyds TSB saw bad debt cases rise by a fifth to £800 million while HBOS experienced an increase in bad debt by 15 per cent to £864 million. “The rate of growth in the number of customers filing for bankruptcy…