Debt Resistance UK (DRUK) is a group of researchers, activists and campaigners dedicated to challenging the narrative of debt as apolitical and inevitable. This booklet introduces our research into how bankers, brokers and advisors have tricked local authorities into taking out expensive, risky loans called LOBOs. Hundreds of councils across the UK are locked into paying for banks’ profits instead of funding their public services. We believe these debts are illegal and illegitimate, and have supported residents across the UK to challenge them through a citizen debt audit.
Source: Debt Resistance UK