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BBC Essex Drivetime with Dave Monk 3/4/17 4.05pm

Monday, 3rd April 2017

Mike was talking to Dave Monk about the Financial Conduct Authority (FCA) proposals on new rules for credit card firms to help millions of customers get out of persistent debt. He explains the definition of persistent debt and the time period before credit card companies are expected to freeze interest and charges. Mike then comments on what he would like to see change which he feels the FCA is not addressing.

Mike then reveals how much people pay back for every pound borrowed when using a credit card and making just minimum payments. Dave was astounded when Mike revealed how much one of his previous clients (husband and wife) owed on credit cards.

No longer available on the BBC iPlayer






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