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Listen - BBC Essex Drivetime with Dave Monk, 6.05pm 30/8/18

Thursday, 30th August 2018

Mike ThomasMike Thomas was in the studio with Dave Monk just after 6pm offering help to those customers caught up in the Wonga Payday loan demise. Mike explained why Wonga are in trouble and what their customers can do if they already have loans as well as what chances they have of receiving any compensation on claims now that Wonga have gone into administration.

Mike then offers alternatives to payday loans illustrating the huge difference in cost when compared to a credit union. Mike closes going through the problems with credit card debt when people only make minimum payments and shows how a simple debt of £2,600 on a credit card can take up to 25 years and 7 months to repay.

How to listen

Now on the BBC i Player. Move the timer to 2:08:55 - 2:17:14 (8mins 19 secs)

Listen - BBC Essex Drivetime with Dave Monk, 6.05pm 30/8/18 (for 29 days)

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.

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