Mike was live in the studio 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 'Debt Special Show' on the free bite size podcast from LBC by clicking below on Debt Phone-in show, Sunday 16 Feb 14 (45 mins)
Topics & time line (some calls updated on Twitter using #LBCDebt)
See the time line below for any topic that interests you.
The show opens with Mike giving updates about the callers to the last show on the 19 Jan 2014. First update was Alan who was unsure if he was made bankrupt six years ago as he has never heard anything since that date. Then it was Mem who had a similar problem but seemed very confused.
Then Mike gave a classic example of how a debt problem went wrong, when one individual did not take professional debt advice before he went bankrupt, had he done so could have been debt free and £10,000 richer, instead he remains bankrupt. See this forum post Went bankrupt with £36,000 credit card debt then got £46,000 PPI claim
Next Mike explained how the debt industry is split, fee charges and non fee chargers. Then it was the cost to go bankrupt in England & Wales compared to Scotland and how this high fee is impacting on consumer bankruptcy numbers.
12.40 Jane called and wanted to know if she could claim back her PPI on the debts that featured in her IVA.
17.37 Next caller was Cathy who wanted to know if she was doing the right thing by moving her £9,000 credit card debt to 0% balance transfer.
21.40 Update with Samantha who called from the show 19 Jan 2014 with debts of £11,000 and was thinking of proposing an IVA. Mike was amazed to find out she was saving £200 per month and not addressing her debts, but he still found a way forward.
23.39 James called saying that he has fallen behind with his hire purchase payments on his and wished to sell it before it is repossessed. Mike said he did not think he would be able to sell the car without the lender doing several things first and explained what they were.
26.30 Then it was a story about how one person changed their gender from a female to male to avoid paying her/his debts!
28.20 Tamil was on next, he is a student and wanted to reduce his interest charges on his £13,000 of credit card debt. This case will be updated on Twitter using the tag #LBCDebt
32.13 Raymond called saying he is being chased by debt collectors for a £4,000 debt that is not his. This case will be updated on Twitter using the tag #LBCDebt
35.00 Next on was Abdul who had his IVA failed after four years of paying and wanted to know if he could propose another IVA to his creditors.
39.12 Raj was issued with a County Court Judgement (CCJ) for £7,000 at his old address and wanted to know if it was still legal and enforceable. What Raj did not know was that the £7,000 debt can now easily be secured on his house as he is a home owner by way of a charging order. He also had a query over PPI claims and a debt relief order (DRO).
42.45 Mike then gives an update on caller Rick who called the last show on19 Jan 2014 who could not afford the bankruptcy fee.
This case will be updated on Twitter using the tag #LBCDebt
Need debt advice
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Tweet Clive using @clivebull LBC use @LBC and for Mike @debtwizard Track the callers that Mike will help using the tag #LBCDebt
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