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LBC with Clive Bull 23/3/15 9 - 10pm

Monday, 23rd March 2015

Mike & Clive in the LBC studio

Mike was in the studio of Leading Britain’s Conversation (LBC) between 9-10 pm talking to Clive about the latest news affecting consumers with debt issues and took calls, texts and emails from listeners around the country.

How to listen

You can listen to the 'Money Hour Debt Show' on the free bite size podcast from LBC by clicking below on

The Money Hour - Monday 23 March 2015 (44mins 00secs)

Topics & time line

See the time line below for any topic that interests you.

00.00 Clive asks Mike what type of people and occupations go to DebtWizard for advice, you will be surprised at some of the jobs! Mike then explains why people fall into debt highlighting the top four key triggers.

04.22 Mike is then asked to comment on a new research about how the average UK household is predicted to rise to £10,000 by 2016, and this excludes mortgages. Mike picks his top five points from the survey. 

06.53 First caller is Benjamin, 29 years old who said that he took out so much credit in his early age and doesn't know what to do. Mike said he was at the stage where 'debt is controlling his life' and then goes on to explain to Benjamin how the debt market operates and how to avoid unnecessary fees for a debt management plan.

09.50 Next on was Adam who said he had credit card debts of £25,000 and had not paid anything for over 15 years after his life fell apart following the death of his partner. Adam was worried where he stood as he has just been contacted by a debt collector and wanted to know if he still has to pay these debts.

14.52 Nick came on with debts of £7,000 for car insurance, credit card debt and telephone bills. Mike acknowledged that Nick was struggling a bit and suggested he go to one of three debt management agencies that will help him with a face to face meeting to help solve his debts.

18.47 Next on was Harmony who owed £3,500 to creditors and said her debts were spiralling out of control and that she was on strong medication that stopped her from working.

21.30 Clive asks Mike if he thinks it's just too easy for people to get credit and in particular with credit card companies.

23.37 Experian explain how you can recover your credit rating if you have been refused credit. 

27.56 Next caller was John who was paying just minimum payments of just £11 on credit cards debts of £9,000. He wanted to know what else he could do.

32.00 Text came in from Richard who wanted to know how to deal with someone that owed him £150,000 from seven years ago.

33.42 Standard Life talk briefly about ISAs and how you use them to save.

37.30 Katanna from Barking called with debts of £21,000 and had never missed a payment up until now and was worried as he could no longer make minimum repayments. Katanna wanted to know what his option were.

40.42 Last caller was Rob who started to deal with his £52,000 of debts by using a debt management plan, then he went into and Individual Voluntary Arrangement (IVA) which eventually failed. Rob wanted to know what he could do now.

 

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