Source: Thrifty Scot
The government has decided to take away our rights in an effort to put a stop to debt. This can make the most pragmatic economist shake their head. Less than five months ago the Bank of England was publishing reports that claimed there was no debt mountain. They claimed that half the population could clear their debts, except their mortgage, before the end of 2007. Then, reports were being published that made claims that the average UK consumers was using their debt to build wealth.

Now we are expected to swallow the new Big Brother position the government is taking on debt. Several changes have taken place that will make it more difficult to borrow, and reduce the chances of running from your debt. The government’s Big Brother program is simple, ‘none of your financial information is private any more.’ The banks will be allowed to share your bill paying information, current loans, bank balances, and a host of other information with the Credit Reference companies. It wouldn’t be so bad, if this is where the information stopped. [more]