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LBC 'Money Hour' blog with Clive Bull Monday 9-10pm 3/8/15

Wednesday, 5th August 2015

Well that was another cracking show!

In case you are not aware, I regularly appear on the LBC Money Hour Show with Clive Bull and I must say that last show on 3 August 2015 was a cracker. The switchboard was full within a few minutes of starting  the Money Hour and we heard from callers with varied levels of debt and different circumstances.

Hearing about people's debt problems and seeing how it has affected their lives and being able to offer a little guidance and hope to their situation is the real driving force behind why I do what I do. Here are some of the calls that stood out for me.

Call 2 – Didn't understand bankruptcy procedure

John  was my second caller, he was enquiring about how long it would be before his debts would become statute barred which would prevent  a creditor from taking him to court for payment. He then admitted that his debts were about 60,00 and didn't fully understand how bankruptcy works. I referred him back to StepChange for clarification on bankruptcy and whether this was a serious option for him.

Call 3 – Really good question that many people do not always know the answer to

I often take  for granted that borrowers know you will not be charged for debt advice when trying to work out all your options. Steve called  after I mentioned earlier about the new proposal to give borrowers 28 day breathing space. He asked if it cost money to speak to a debt adviser  as I had said it is often better to speak with three or four different advisers to be able to make an informed decision about which debt solutions suits you best. It was a very good question and something that I need to make clear next time I speak on LBC, and you should not be paying anything for that call.

Caller 6 – Am I going to lose my family home through care home fees?

Felt really sorry for caller Geoff, he has to find £9,000 in care home fees for his late mother and wanted to avoid having to sell the family home that he has lived in for the past 50 years, we had a good conversation and I spoke with him since the show and feel we now have a possible way forward that will not involve the home. He said he wil let me know how he gets on.

Caller 7 – A bit cheeky

Oliver was a bit cheeky when he said  he had a better way of dealing with debts than  me! I have heard about his chosen method of dealing with creditors before but only from a handful of people, it does not work for everyone as personal circumstances come into play as well as the age of the debt.

Other topics covered

We covered a few other topics throughout the show around bankruptcy, Income payment agreements, bankruptcy restriction orders, statute barred old debts, PPI claims in bankruptcy, Individual Voluntary Arrangements (IVAs), debt in probate, pensions in bankruptcy and payday loans.

Missed the show and want to listen again with thew 'free podcast?'

If you can relate to any of the scenarios above and would like to hear the full show or just wish to see the timeline and topics covered then you can access it here.

You can also visit the Debtwizard site and contact me directly if you have any other questions you would like answered.

Next show on LBC

You can find the dates and times of Mike's next shows plus how to contact here  

Are you in debt but don't know where to start?

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