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The demands of the major high-street banks for stricter controls on companies
that help consumers offload bad debt have been rebuffed by the government, which
claims lenders have only themselves to blame for the rise in IVAs.
Jim Fitzpatrick, trade and industry minister, said the increase in individual
insolvencies, up 66% in the second quarter of this year, should be monitored.
But he rejected the “Bankrupt Britain” tag as an invention of the tabloid press,
stating that the government did not think “this situation is broke and we need
to take desperate measures to fix it”.
Source:
Getting Paid
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