Corrie actor's debt firm 'collapses'

A debt firm which had Coronation Street star Michael Le Vell on its board has folded, according to a report.

The actor, who plays Weatherfield's Kevin Webster, joined Altrincham-based Ratio Money in April 2009 in a bid to help people who had been "ripped off" by banks and lenders.

Speaking at the time, Le Vell commented: "Thousands of people are suffering - but help is at hand."

Ratio Money promised to carry out audits of its clients' credit agreements to determine whether they complied with the Consumer Credit Act. If not, the company would attempt to have their debts written off.

However, The Mirror reports that the firm failed to recover from a severe setback which occurred in December when a High Court ruling removed many of the loopholes used to write off debts.

Le Vell, who reportedly quit as a director last month, could not comment on the newspaper's story as he is currently on holiday.

DS