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Free podcast now available - LBC Money Hour with Clive Bull - Sunday 8-9pm, 29 October 2017

Sunday, 29th October 2017

Mike & Clive in the LBC studio

Below is the free podcast from Mike's appearance on LBC's Money Hour on Sunday, 29 October 2017 with Clive Bull. It's free to listen to.

On this show, Mike talks to Clive about the latest news affecting consumers with debt issues, takes calls, texts and emails from listeners around the country. Below is a list of the topics and timeline of the audio to make it easier to access certain parts of the show. Just click below to start listening.

Topics

Minimum payments on credit cards, overdraft fees, old debts, statute barred debts, Limitation Act 1980, Individual voluntary arrangements, IVAs, credit unions, credit cards debts, Financial Ombudsman Service (FOS), payment protection insurance (PPI), StepChange debt charity, Citizens Advice Bureau, National Debt Line fact sheets, debt management plans (DMPs), consumer bankruptcy, debt management plan fees, secured loans.

The Money Hour - Sunday, 29 October 2017 (44 mins 46 secs with news bulletins removed)

 

Time line

Clive opens the show by asking Mike what are the key triggers for people getting into debt and then asks what concerns him the most, Mike's reply is not the coming rise in interest rates, more of the time it takes people to seek help and advice on their debt problems and the amount of borrowers that rely on credit cards to make ends meet. Mike then reveals that those paying minimum payments on their credit card debt potentially are paying back £2.50 in addition to the £1 spent on the card. Clive mentions the recent release of figures that show a large increase in the numbers of consumers proposing Individual Voluntary Arrangements (IVAs) and asks Mike what he thinks is behind this.

10:50 Call 1 Don in Norfolk was concerned about his overdraft debt with the bank and wanted to know his options on paying this back.

16:08 Call 2 Michael in Beckton was looking for information on a bank loan he stopped paying eight years ago after recently received a debt collection letter asking for payment. Mike agreed to speak off-air with Michael and will make updates on his twitter account @DebtWizard

24:32 Call 3 Ahmed had an issue when selling a car, the telephone line was poor so call ended.

25:30 Call 4 Chris from Manchester called looking for information for his brother who has had someone take out fraudulent debts in his name and the debt collectors say he is still liable.

29:50 Clive reads out a message from John; "Everything you said in this program sounds like you are talking about me, I had a job for five years and doing well then we lost our child ........ Mike agreed to speak off-air with John and will make updates on his twitter account @DebtWizard

31:20 Call 5 Ashik in Surbiton is struggling to reduce his £5,000 overdraft and pay his £10,000 debt on credit cards and wanted to know his options.

37:04 Call 6 Lloyd in Brixton was looking for information on his business computer debts of £16,000 from 2007 which has now grown to £28,000 and following a court hearing secured on his house.

40:14 Call 7 Tony in Basildon took out a secured loan for £75,000, said he rushed through the agreement as was desparate for the money. He had been paying £654 pcm for 10 years but now has a settlement figure of £65,000 and wanted to know why this should not be lower and wanted to know what his options were. 

Where to get 'not for profit and free debt advice'

If you need more information on how to best manage your debts then look at our list of the 'not for profit and free' free debt help / advice agencies, they will not charge you fees for debt options.

More media shows - Previous free podcasts & timelines

Listen to the free podcast & see the topics & timeline here for LBC Money Hour Sunday 8-9pm 29 October 2017

Listen to the free podcast & see the topics & timeline here for LBC Money Hour Sunday 8-9pm 30 July 2017

Listen to the free podcast & see the topics & timeline here for LBC Money Hour Sunday 8-9pm 25 June 2017

Listen to the free podcast & see the topics & timeline here for LBC Money Hour Sunday 8-9pm 12 February 2017

Listen to the free podcast & see the topics & timeline here for LBC Money Hour - Sunday 8-9pm 15 January 2017

 

 

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