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LBC with Clive Bull 4/5/15 9 -10pm

Monday, 4th May 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 & Timeline

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 4 May 2015 (42mins 35secs)

Topics & time line 

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

00.00 The show opens with Mike revealing recent research by ComRes and R3 that Nearly half British adults say they are worried about their debts [http://debtwizard.com/news/1340-nearly-half-british-adults-say-they-are-worried-about-their-debts] Clive then asked do people choose to get into debt or is it caused through something else? 

05.20 First caller was Kerri with £100,000 secured loan, had £75,000 unsecured debts over the last seven years but had managed to reduce this down to £55,000, owns two properties and had thought  bankruptcy may be an option. 

11.57 Mike answers a tweet from Linda on how you should not get a credit card unless you are going to clear the balance every month. Mike then comments on whether consumers behaviour would be different if the credit card was rebranded 'Debt card'. 

15.44 Clive then asks Mike about why the numbers of consumers going bankrupt is falling. Clive then asks does bankruptcy hang over you for life and once bankrupt are you allowed to have a bank account? 

21.15 Next was Tom calling, he was worried about his wife's debts of £12,500 and wanted information on his options. 

26.53 Dave called saying that following his divorce he was worried about his ex-wife not paying the mortgage and wanted to know the consequences. 

29.21 Text 'Does it leave your creditors high and dry if you don't pay your debts?' 

31.07 George sends the next text 'How can you get home insurance if you have had an IVA or gone bankrupt?' 

32.58 Next on is Gillian who said she has been struggling to meet the payments under a Debt Management Plan (DMP) for four years.  She had been advised by the DMP provider to either go bankrupt or propose a Debt Relief Order (DRO). 

37.09 Sharon said she was £10,000 in debt and recently managed to pay off all her debts and wondered how long it would take her to become credit worthy again. 

39.08 Last caller on the night was Roy who said he was 79. He said that when he was 71 he had a heart attack and his solicitor managed to get his £40,000 of credit card debts written off. Roy's question was - can he claim back the PPI on these credit cards and if so could he could he keep any of the money? 

Update 21 May 2015, Mike spoke with Roy and explained more about how he could claim back PPI. It would appear that Roy may be entitled to several thousands of pounds in refunds. 

Tweet Clive using @clivebull LBC use @LBC and for Mike @debtwizard 

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