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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.


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


On 1st October 2017, a new Pre-Action Protocol (PAP) tailored specifically tailored for debt claims came into force. Previously businesses and creditors were compelled to follow their regulator and trade body guidelines. 

Who does this apply to?

The Protocol applies in England, Wales and Northern Ireland to any business (including sole traders and public bodies) claiming payment of a debt from an individual (including a sole trader). This Protocol does not apply to business-to-business debts unless the debtor is a sole trader.

What are the main aims of the Pre-Action Protocol for Debt Claims?

Read more: New - The Pre-Action Protocol (PAP) for Debt Claims


Mike was talking to Dave Monk about the call by the Labour party to cap credit card interest so that it never goes above the amount borrowed. Mike then offers information on what to do when you have a debt issue, who to contact for help, how to take control of your situation and avoid unnecessary fees. Dave then asks Mike if credit card companies could make others pay for those that are in debt by increasing the increasing rate. Mike then explains the meaning of persistent debt and reveals the expected cost the regulator review will have on the credit card companies.

Read more: BBC Essex Drivetime with Dave Monk 25/9/17


Mike was talking to Vanessa Feltz about Newham in East London being the debt hotspot of London following the research from Money Advice Service which revealed one in four people in the borough have severe debt problems. Mike and Vanessa cover how zero hours contracts can impact on the debt, the struggle for families to meet the cost of living, whether this is a generation that expects too much.

Mike then offers information on what to do when you have a debt issue, who to contact for help, how to take control of your situation and avoid unnecessary fees.

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

How to listen

Read more: BBC Radio London - Vanessa Feltz 19/9/17



For no nonsense advice just submit the short form and Mike or one of his team will get back to you.

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