BRITISH households in dangerous levels of debt are confident the banks will return the favour and bail them out this time.

Following warnings from the Bank of England about spiralling car loans and credit cards, UK households have said there is no need to worry because they have a mate who owes them big time.

Nathan Muir of Nottingham said: “Quid pro quo, right? You scratch my back, etcetera?

“We bailed those guys out to the tune of billions, billions and billions, while in comparison I’ve got £13,500 to pay on a Hyundai Tucson.

“We’re not even talking 10 years ago and some of them still owe us, so it’s not like they’d be handing over the cash. Just knock it off their repayments. Won’t make a dent.

“Yeah I’ve made a couple of mistakes, but it’s not like it was breaking the law like the LIBOR stuff, so no way I’ll be harshly punished. That wouldn’t be fair.”

A spokesman for the British Banking Association said: “Irresponsible bailouts are so 2007. It’s all about settling debts in full on punitive terms now.”