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Free podcast now available LBC - 8-9pm, Sunday, 15th April 2018

Sunday, 15th April 2018

Mike & Clive in the LBC studio

Below is the free podcast from Mike Thomas's appearance on LBC's Money Hour on Sunday, 18 March 2018, with Clive Bull. It's free to listen to.

How to listen

On this show, Mike, aka DebtWizard, talks to Clive about the latest news affecting consumers with debt issues, takes calls, texts and emails from listeners around the country.

Topics & Timeline

We have added 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

Triggers for getting into unmanageable debt, debt options, debt and mental health problems, Debt & Mental Health Evidence Form (DMHEF), credit / store card debt, debt collectors, payday loans, debt relief orders (DROs), dying with outstanding debts, Registry Trust, county court judgements (CCJs), National Debtline fact sheets, old debts - statute barred debts, Limitation Act 1980,  debt solutions, debt management plans (DMPs), Individual Voluntary Arrangements (IVAs), consumer bankruptcy, Income payment agreements/orders (IPAs IPOs) disposable income (DI) explained, payment protection insurance (PPI) reducing debts and StepChange.

The Money Hour - Sunday 15 April 2018 (47 mins 22 secs with news bulletins removed)

 

Time line

The show opens with Clive commenting on how people have a tendency to put dealing with personal debt matters on hold, bury their heads in the sand and don't open any letters, even more so when the debts become severe. Mike then gives examples of how unmanageable debt can control your life and how too much can prevent people from renting or purchasing a property. Clive then talks about how depression and debt can be linked and Mike explains how the debt industry is covering this with the Debt & Mental Health Evidence Form (DMHEF).

04:22 Call 1 Julia from Sutton was looking for information on debts she had not paid for around seven years and can now no longer remember who the firms are that she owes money to. (This call restarts at 07:00).

04:56 Call 2 Jackie in Woodford said she has mental health problems during a long court case but was stopped from continuing by Clive in case any future court case could be compromised. 

07:00 Call 1 Julia restarts.

12:20 Call 3 John in Wimbledon is paying £95 per month on £100,000 of debts (Mike worked out this will take 88 years to clear) and was looking into his options.

20:49 Call 4 John in Uxbridge recently received a letter demanding £700 for a property he once resided in and wanted to know his options.

24:08 Call 5 Paul in Amersham has £85,000 of debt which some will soon be statute barred but it leaves around £20,000 and wanted to know if he could do a Debt Relief Order (DRO)

32.30 Call 6 Hamid in Romford took £2,500 in Payday loans last year, has another £7,000 with the bank and has previously missed payments but is now in a position to pay again and wanted to know how best to go about this.

36:47 Text from Peter - This was a rather sad and very moving text, here is a copy of the actual words used. "I have a number of debts they were manageable but became debt burdened following a car accident and a period when I was unable to work causing me to lose a successful business. StepChange helped me to negotiate a repayment plan with each creditor which I have stuck to since. However, I have recently been diagnosed with an incurable illness, and I will die leaving several thousands of pounds unpaid, how will these impact on my wife and children when I do, I don't want to die and leave them with debt that don't belong to them. I jointly own a property with my wife and we have no mortgage. Thank you very much for any advice"

39:54 Call 7 Lee in Brighton has about £100,000 of debt, mainly credit cards, with his wife, yet earns £50,000 a year and the debt is just increasing.

45:58 Text about an IVA "I've got an IVA, but I can't afford to pay it anymore. Its been reduced to the lowest amount they can agree to but I still cannot afford to pay it. What do I do now?" Mike answers this.

Please note

The advice/information offered in this show is for your guidance only you should seek your own independent and financial opinion.

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

If this is you then we offer information on what to do when you have a debt issue, who to contact for help, how to take control of your situation, what to say to your lenders / debt collectors and that importantly how not to pay thousands of pounds in fees.

You can see the full five point guide here In debt? Don't know where to start?

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 radio shows

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Twitter

Mike Thomas @debtwizard

Clive Bull @clivebull

LBC @LBC

 

 

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