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Free podcast now available - Clive Bull - Money Hour - Sunday 8-9pm 18/3/18

Sunday, 18th March 2018

Mike & Clive in the LBC studioBelow is the free podcast from Mike Thomas's appearance on LBC's Money Hour on Sunday, 18 March 2018, with Clive Bull. It's free to listen to.

On this show, Mike, aka DebtWizard, talks to Clive about the latest news affecting consumers with debt issues, takes calls, texts and emails from listeners around the country. We have added 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.


Disposable Income explained, credit / store card debt, payday loans, credit unions, 0% credit card balance transfers, debt relief orders (DROs), bank overdraft charges, Financial Ombudsman Service (FOS), Registry Trust, county court judgements (CCJs), National Debtline fact sheets, statute barred debts, Limitation Act 1980, debt solutions, debt management plans (DMPs), Individual Voluntary Arrangements (IVAs), consumer bankruptcy, debt consolidation loans (DCLs).

The Money Hour - Sunday 18 March 2018 (45 mins 15 secs with news bulletins removed)


Time line

The show opens with Clive asking Mike what kind of people he can help with debt problems and was not surprised to hear they are police officers, nurses, fire fighters, school teachers, vicars, pilots and civil staff to name a few. Mike then comments on what type of debt he sees causing the most problems and it's credit cards. He then gives an example of how much some one will repay for every one pound they have on a card when making just minimum payments. It's frightening!

05:00 Call 1 Samantha was looking for options and information on how best to reduce her £4,000 credit card, store card and bank overdraft debt.

10:05 Mike then answers a tweet from Leslie 'What about 0% credit card balance transfers.'

12:24 Call 2 Steven in Chorley said he was doing two jobs to try and make ends meet and moving house to keep ahead of his creditors but was now was just running away from his £10,000 of debt, saying he just can't afford to pay them off. Mike suggested a solution he had not heard of before, and it could work.

18:48 Call 3 Theresa in Camberwell was looking for information on her £1,000 bank overdraft as she keeps get charged £30 per month and cannot clear the debt.

23:47 Guest slot for the FCA on Pension scammers.

27:57 Call 4 Chris said when in his wild years he'd previously taken out at least 10 payday loans and never attempted to pay then back. Now he's in a well paid job and can afford to buy a house but just cannot remember who he owes money to. 

32:28 Update of previous caller Yvonne, who has £20,000 of credit card catalogue debt and was sinking, see LBC Money Hour 11/2/18 move timer to 28:14.

35:00 Call 5 Kit in Paddington wanted information on his £10,000 of debts which he said he hasn't paid for more than six years and now he keeps receiving letters from those creditors.

40:20 Text - 'I have three children, don't own a house and just out of my job, got £10,000 on one credit card, after contacting a debt help agency I was told to get some more debt before they can help', help! Mike answers this.

41:33 Text - 'I have a question about a debt relief order,  if I do one will it stay on my credit file for six years, will I be able to get a mortgage or credit in the future?' Mike answers this.

42:28 Call 6 Jonathan in Enfield wanted information on how he could get a mortgage when he has two county court judgements (CCJs) against his name for a total debt of £1,500. 

44:08 Text - 'When you ask people what they spend their money then they wouldn't be in debt'.' Mike answers this.

Please note
The advice/information offered in this show is for your guidance only you should seek your own independent and financial opinion.

Mike's blog

Mike has written a blog on this shoe, you can read it here 

Are you in debt but don't know where to start?

If this is you then we offer information on what to do when you have a debt issue, who to contact for help, how to take control of your situation, what to say to your lenders / debt collectors and that importantly how not to pay thousands of pounds in fees.

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

Where to get 'not for profit and free debt advice

If you need more information on how to best manage your debts then look at our list of the 'not for profit and free' free debt help / advice agencies, they will not charge you fees for debt options.

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