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Mike explained to James why consumers take out payday loans and how a fault in the system allows a borrower to make multiple payday loan applications. He also gave some very sound advice on what to do before taking out such a loan.
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Mike spoke with Nick about the changes in car insurance premiums for women that came in today, he covered who were the winners and losers and how this European directive could affect male pensions.
How to listen
You will be able to download the show at LBC Podcasts for a small fee, DebtWizard does not receive any commissions for this, look for the show date 'Nick Ferrari 21 December 2012' Mike was on at 8.35am.
You are advised to seek professional advice on any debt issues you may have.
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Mike was on The Morning News Show at 6.35am with Susan Bookbinder commenting on the lack of funding for the City regulator OFT and the impact it has on consumers. He also blamed some of the OFT's workload down to consumers leaping in feet first without reading the small print or undertaking any research.
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Mike spoke about the cost of Christmas this year and how the debt management industry will see its busiest time in January and February. He also offered a warning to consumers that are thinking of going bankrupt after any over indulgence during the festive period.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available.
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Mike Thomas aka 'the DebtWizard' was live on the show with Keith Middleton offering advice on how to manage debt issues. Mike answers numerous texts and emails as well several calls from listeners.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available.
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Mike spoke about the new Bill being proposed to cap credit card debt, and what changes are to be made to insolvency law to help bankrupts.
The first caller was Katherine who was worried about her godmother who owed money on two Time Shares and could no longer afford the maintenance payments. Next caller was Albert who claimed his bank had lost his £1,000 cheque he had just paid in and were not being helpful. Then it was Andy who was in a debt management plan (DMP) and was worried about his credit rating. What he did not know was the mount he was paying in fees for the DMP, Mike worked it out as just over £3,000 on top of his debt. Mike also touched on fee charging and free debt advice firms. Next caller was Tina from Essex who is the victim of identity fraud, a friend had taken out credit in Tina’s name and Mike explained what needed to be done to stop this happening again. Then it was Linda who had a PPI query followed by Peter in Romford who had different credit score according to what credit reference agency he used. This was another cracking show!
How to listen
You can download the show podcast at LBC Podcasts for a small fee, DebtWizard does not receive any commissions for this, look for the show date 'Clive Bull 16 December 2012' Mike was on at just after 9pm for 45 minutes.
You are advised to seek professional advice on any debt issues you may have.
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Mike helps James on how to deal with a debt that's over six years old and is known as 'statute barred'. He explains what James needs to do to send the debt collectors away. Next caller was Cameron who did not know he could get a free debt management plan; instead he was paying thousands in fees. Denzel wanted to know what he could do about letters coming to his home for a debt in someone else’s name. Mike also touched on fee charging and free debt advice firms. This was a cracking show!
How to listen
You can download the show podcast at LBC Podcasts for a small fee, DebtWizard does not receive any commissions for this, look for the show date 'Clive Bull 25 November 2012' Mike was on at just after 9pm for 28 minutes.
You are advised to seek professional advice on any debt issues you may have.
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Mike was on the show talking to Dave about Payday loans, the traps and high interest charges. Mike raised his concern on how a consumer can obtain as much as five Payday loans in one day due to a fault in the way Payday lenders update credit reference agencies. Mike also explains how Payday loans can now be put on a house owners' home and in theory can order the sale of the house if there is non payment. Also participating was Richard Griffiths from the Consumer Finance Association (CFA).
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (13 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Mike Thomas aka 'the DebtWizard' was live on the show with Keith Middleton offering advice on how to manage debt issues. Mike answers numerous texts and emails as well several calls from listeners, among the topics - motorists selling their cars with undisclosed loans against them, no such thing as an 'unsecured' debt if you are an house owner, how to fight back with payday loan lenders, how thousands of consumers cannot afford the bankruptcy fee, gym memberships and does claiming back PPI affect your credit rating?
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available.
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The latest house repossession figures were released on Thursday and Mike offers his view as to why the numbers are falling, and it's not forbearance from the mortgage lenders! He also explains what a 'mortgage twitcher' is as well as honeymoon borrowers.
How to listen
You can download the show podcast at LBC Podcasts for a small fee, DebtWizard does not receive any commissions for this, look for the show date LBC Podcasts with Ian Collins 10 November 2012 Mike was on at about 8.50 pm for 10 minutes.
You are advised to seek professional advice on any debt issues you may have.
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Mike explianed how the high cost to go bankrupt is misrepresenting the consumer insolvency figures that were released yesterday.
How to listen
You can download the show podcast at LBC Podcasts for a small fee, DebtWizard does not receive any commissions for this, look for the show date LBC Podcasts with Ian Collins 3 November 2012 Mike was on at about 8.50 pm for 10 minutes.
You are advised to seek professional advice on any debt issues you may have.
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Mike spoke about what consumers can do to avoid debt and where to get help. He also covered the new rules that allow credit card debt to be secured on home owners, what debts you can go to prison for, how some people are paying their mortgage or rent with credit cards and how consolidating debts can work.
How to listen
You can download the show podcast at LBC Podcasts for a small fee, DebtWizard does not receive any commissions for this, look for the show date LBC Podcasts with Ian Collins 27 October 2012 Mike was on at about 8.35pm for 12 minutes.
You are advised to seek professional advice on any debt issues you may have.
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Mike spoke about why consumers take out Payday loans, the benefits and the big big pitfalls plus how consumers can make multiple applications.
How to listen
You can download the show podcast at LBC Podcasts for a small fee, DebtWizard does not receive any commissions for this, look for the show date LBC Podcasts with Ian Collins 20 October 2012 Mike was on at about 8.45pm for 10 minutes.
You are advised to seek professional advice on any debt issues you may have.
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Mike explained how house owners can have their credit card debt put on their homes quicker following a change in the rules. He also covers what is mis-selling of Payment Protection Insurance PPI and explains how a Time Order can be used to rearrange a debt agreement.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available.
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Mike was in the studio discussing the pros & cons of Credit Unions, how bankrupts are being shunned by the High Street banks and offer some reasons why 80,000 people in Essex who do not have a bank account.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (11 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Mike was in the studio talking about mental health and debt and explains the guidelines all banks and credit card companies must adhere to when dealing with borrowers suffering from some form of mental illness.
BBC iPlayer - No longer available.
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Mike Thomas aka 'the DebtWizard' was live on the show with Keith Middleton offering advice on how to manage debt issues. Mike answers numerous texts and emails as well several calls from listeners.
BBC iPlayer - No longer available.
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Mike explains how to go bankrupt and that for some you can still pay your creditors during the bankruptcy. He also covers the high cost to petition and why he feels this is distorting the numbers. He also gives examples of his type of clients, aircraft pilot, vicar, police officer, belly dancer, then its your credit rating and the one key question insurance companies always ask about bankruptcy.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (6 mins 37 secs).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Mike spoke about the winners and losers following the decision to keep interest rates unchanged, he also commented on the one million or so home owners that are seen as 'twitchers'. Then it's the concern that the average interest rate for credit cards is 37 times the base rate! Mike also gives his view on how low interest rates do not help those with debts.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (5 mins 34 sec).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Topics covered, number of consumers in debt, triggers of debt, priority debts, payday loans, credit unions, Log Book Loans, IVAs, bankruptcy, the pros and cons of Debt Management Plans and how they work. Mike also explains where to get good debt advice, the three key points a debt advisor looks for, he then goes through the seven point guide on how to spot that dodgy debt advice website!
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (47 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Mike spoke about the number of complaints handled by the Financial Ombudsman Service (FOS) following their press release earlier today and how much the banks and credit card providers have to pay to the FOS for investigating consumer complaints.
BBC iPlayer - No longer available.
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 Mike Thomas aka 'the DebtWizard' was live in the studio with Keith Middleton on a phone-in debt special offering advice on how to manage debt issues.
BBC iPlayer - No longer available.
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Mike was talking to Gaby & Paul about why consumers takeout Payday loans, the benefits and the big big pitfalls. Plus how consumers can take out multiple applications.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (5 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Mike helps one listener who is paying back her ex-husband's debts through her house after he went bankrupt. Paula tells Jonathan that her ex is hell bent on breaking her!
No longer on the BBC iPlayer.
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Mike Thomas aka 'the DebtWizard' was live on the show with Keith Middleton offering advice on how to manage debt issues.
The Extravaganza' can be heard via the local radio frequencies, on DAB or online at www.bbc.co.uk/shropshire to 'Listen Live' or 'Listen Again' throughout the following week!
Mike is next in the studio on Sunday night at 10pm 20th May 2012.
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Mike explains how some home owners are on the 'honeymoon mortgage deals' (tracker interest rates) and why they will be 'mortgage prisoners' once the rates increase. Then it’s how some house owners pay their credit cards in preference to their mortgage and ends on how a mortgage repossession debt can come back to haunt you many many years later.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (5 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Going to court and filing for bankruptcy isn't as daunting as you might imagine – we talk you through the main steps using the DebtWizard guide to bankruptcy.
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guardian.co.uk
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Face your debt demons to avoid a blast from the past.
Up to half a million people who have lost their homes in the past 12 years could be at risk from shock bills of tens of thousands of pounds.
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miror.co.uk
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Mike will be co presenting and contributing to a new five part series helping consumers resolve their debt issues.The series will run Monday through to Friday starting at 11 am for 45 minutes. Friday's start time will be 10.45am.
Twitter
You can follow Mike on @debtwizard and comment on the following tag; #myworstdeal
We have created another page listing the days the following topics are on, payday loans, log book loans, bankruptcy, house repossession debt, loan scams and illegal money lending (loan sharks).
Take me to My Worst Deal - BBC One
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BBC One - My Worst Deal
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Mike explains how a consumer can get between 5 and 10% discount on their electric bill by paying by direct debit. He also comments on the dangers and costs of taking out a Payday loan and what consumers need to do it they have any debt issues. No longer on the BBC iPlayer.
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DebtWizard template letters are mentioned in the Daily Mirror's essential guide to claiming back Payment Protection Insurance (PPI).
After years of raking in millions of pounds flogging dodgy Payment Protection Insurance, banks are being forced to repay people.
Can you claim a refund in the scandal over payment protection?
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miror.co.uk
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Debt specialist Mike Thomas investigates the rise in logbook loans and exposes how unscrupulous car sellers are shifting their debts to unsuspecting buyers.
Still available to watch on BBC - BBC Inside Out - London
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Mike was on Drivetime with Eddie Nestor talking about tonight's BBC One Inside Out program on the rise in logbook loans and exposes how unscrupulous car sellers are shifting their debts to unsuspecting buyers.
You are advised to seek professional advice on any debt issues you may have.
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Debt phone-in special
Mike covers his background in the Police, the best course he ever undertook, counselling. Topics - first caller owes £16,000 and his wife has been overpaid £5,000 by her employer. Mike goes through their options of either a debt repayment program and an IVA plus bankruptcy.
Mike then explains to listener Pat about how to deal with any house equity in an IVA after this listener had entered into an IVA several years ago and was told he had to remortgage.
The next topic is about who pays what in joint debts, more so if one of you dies. Then it was how to go bankrupt and the alternatives, this was followed by a sneak preview of a new BBC One series Mike is appearing in which goes out on 2 April, called ‘My Worst Deal’.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (42 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer available, see launch player instead.
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Launch player
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Bankruptcy is often seen by others as the easy way out for those who have run up debts and who don’t want to pay what they owe.
But the reality is that it only offers a solution to those rich enough to be able to afford the £700 fee.
Many who should go bankrupt are simply too poor to do so. Jo lost her job and her home.
Click on the link to the right to read the article.
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miror.co.uk
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Avoid the rip-off lenders and turn to free advice to get out of debt trap.
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Mike will be discussing whether the new bailiff reforms being unveiled by the Government today will protect the public from "heavy-handed" bailiffs.
You can listen to LBC on 97.3 FM, on-line at lbc.co.uk or SKY 0112.
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How to deal with debt collectors chasing a debt that is in dispute.
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Mike Thomas aka 'the DebtWizard' was live in the studio with Keith Middleton offering advice on how to manage debt issues.
Sorry, this programme is no longer available on the BBCiPlayer.
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