Price of credit

THE Bank of England seems constantly behind the curve in seeing what is on its way for UK finances.

The explosion of personal credit began years ago, yet only now are the brakes being applied.

The bank manager was once the custodian of the conscience for family finances. Sadly, today, payday loan firms with their eye-watering interest rates rule the market.

They don’t offer personal financial guidance, and when things go wrong simply make a final demand to get their money back.

TONY WILLIAMS, Ferndown, Dorset.