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News

Increases in credit card limits are being given away too freely says the Citizens Advice after their research suggests 6 million people have had their credit limit increased in the last year, this without their consent – and a third of those who showed signs of struggling financially were given a rise.

Read more: 6M Credit card holders had their limits increased last year says Citizens Advice

 

There were 25,479 individual insolvencies in Q3 2017, consisting of 15,523 individual voluntary arrangements commonly referred to as (IVAs, 61% of the total), 6,274 debt relief orders (DROs ,25%) and 3,682 bankruptcies (14%). This led to Individual insolvencies increasing 10.6% compared with the previous quarter.

Consumer led bankruptcies

Read more: Individual insolvencies increased 10.6% compared with the previous quarter as Individual Voluntary...

 

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

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

 

Mike Thomas was asked by Jonathan if he had much sympathy for young people with loads of debt and are the lenders to blame for offering too much money to people? Mike was then asked why so many young people are not financially prudent and could parents have done more to educate and explain to their children about the pitfalls of borrowing money?

How to listen

Read more: BBC Three Counties Radio - The JVS Show 9am 16/10/17

 

Can you clear your first mortgage in just 13 years?

Mike Thomas spoke to Roberto Perrone about a young couple who intend to pay off their mortgage in just 13 years by careful budgeting, they say anyone can do it, but Mike asks can they really and comments on the four main triggers why people fall into unexpected debt problems. Mike then reveals how much people pay back on just £1,000 of credit card debt when making minimum payments, it's startling!

How to listen

Read more: BBC Three Counties Radio - Roberto Perrone 4.20pm 10/10/17

 

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