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Mike was live in the SunTalk studio with Jon Gaunt taking calls, emails and texts from all over the UK on how to resolve your debt issues.
This was another great show covering all aspects of debt as well as bankruptcy, bank charges update, gym membership fees and much more. Mike gives no nonsense advice on how to get back in control.
See if the DebtWizard can answer your question by clicking on our easy to use submit a question, or you can send your queries to gaunty@suntalk.co.uk or text 87131 or call 020 33 64 7000 and get the advice live on SunTalk.
You can hear Mike's part of the show here Debtwizard on SunTalk podcast 27/11/09
Click here to find out how to listen to previous shows of SunTalk.
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Mike gives a follow up to Jon Gaunt about the fallout following the bank's win in the Supreme Court. Mike goes through his 5 point guide on what bank customers that are affected by bank charges can do next.
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Mike updates Jonathan with what consumers can expect to happen following the shock decision by the Supreme Court.
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Mike gives Jon Gaunt and his listeners an update on what next for consumers and the OFT following the Supreme Court's decision to rule in favour of the banks.
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With the bank charges court case result due within hours Mike is asked to comment on what the impact would be on consumers if the OFT wins and likewise if they lose.
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Mike will explain the implications of the long awaited court case result between the OFT and the banks on unauthorised overdraft charges. The announcement by the Supreme Court is due at 9.45am on Weds 25th Nov.
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Mike joins Dave Monk in a discussion on the new plans for consumer bankrupts to go bust by email and on-line, meaning they will no longer need to go to court. Mike explains why the change in policy and also informs Dave of another massive change, bankrupts are no longer advertised in the local paper.
Now on the BBC iPlayer run in from 01.27.50 until 01.37.05
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Mike explains to Jonathan why the FSA has decided to regulate the banks with a new 'Lending code' and what it means to consumers. Mike then comments on the latest consumer debt numbers released for October 2009 detailing that the Citizens Advice Bureaus are now handling 9,300 new debt enquiries every working day!
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Mike Thomas explains to Oliver Hides why consumers get into debt, he then comments on how governments encourage consumer debt as it drives the economy. Mike also explains why he sees this current recession as like a cull which is probably the only way to get a grip of consumer spending.
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Mike was live in the SunTalk studio with Jon Gaunt taking calls, emails and texts from all over the UK on how to resolve your debt issues.
This was another great show covering all aspects of debt as well as unenforceable credit agreements and bank charges update. Mike gives no nonsense advice on how to get back in control.
See if the DebtWizard can answer your question by clicking on our easy to use submit a question, or you can send your queries to gaunty@suntalk.co.uk or text 87131 or call 020 33 64 7000 and get the advice live on SunTalk.
Click here to find out how to listen to previous shows of SunTalk.
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Mike explains what a 'V' and 'W' recession is followed by what the three 'C's' are that we need first before recovery. He then covers the problems facing borrowers in light of the new FSA clampdown on mortgages.
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Mike was once more live in the studio with Jon Gaunt taking calls, emails and texts from all over the UK on how to resolve your debt issues.
This was another busy show covering bank charges update, financial hardship cases, Individual Voluntary Arrangements, IVAs, and bankruptcy plus more. Mike gives no nonsense advice on how to get back in control.
See if the DebtWizard can answer your question by clicking on our easy to use submit a question, or you can send your queries to gaunty@suntalk.co.uk or text 87131 or call 020 33 64 7000 and get the advice live on SunTalk.
Click here to find out how to listen to future shows of SunTalk.
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Mike Thomas 'aka' the DebtWizard was once more with Jon Gaunt in the SunTalk studios taking phone calls, texts and emails from listeners on how to deal with their debt issues. This was a another cracking show with plenty of different calls. Mike gives no nonsense advice on how to get back in control and then gives Jon an update on the gym membership fees article.
Click here to find out how to listen to future shows of SunTalk.
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James Max interviews Mike Thomas for LBC's 'money podcast' of the month. Themes covered are why consumers need credit, why there is no such term as an 'unsecured debt', the biggest mistake consumers make which leads them into debt, the most expensive down to the cheapest forms of borrowing leading into Payday and Logbook loans. This is another fascinating, straight talking no nonsense interview from Mike.
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Mike Thomas the 'DebtWizard' opens the show commenting on 'bankruptcy tourists', this is where Germans come over to the UK to go bankrupt because it is seen to be easier and quicker in the UK rather here than in their own country. Next they spoke about how much other consumers pay for bank accounts in other countries and surprisingly Italy were top and UK 17th most expensive! Mike then moves into the announcement by Ofcom to regulate mis-selling of mobile phones, he describes the three biggest complaints the regulator receives and then details what you need to do if you believe you have been mis-sold. Last topic was on the mortgage increase figures released earlier that day by the BBA. Another fascinating show!
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Mike explains to Jonathan why consumers need to find alternative ways of paying bills whilst the postal strike is on and what the pitfalls are to consumers when they miss payments. He then offers a solution that will help prevent many thousands of consumers from receiving late payment penalties charges.
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Busy show with Mike Thomas aka the DebtWizard, urging consumers to make alternative payments for bills because of the postal strike, he explains how you can receive £12 penalty for late payments and also how your credit file can be affected. Next topic was banking complaints; here Mike explains the procedure you have to go through before the Financial Ombudsman gets involved. Then Mike moves onto Payment Protection Insurance, PPI, and covers the reason why these policies exist, what constitutes mis-selling and how you can enter a claim against the provider of the policy. Great topics, great show, great fun!
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Mike joins Dave Monk in a discussion on how to improve your credit rating. He explains how to see your credit file, how to make corrections on it and then gives three very simple and straight forward tips on improving your chances of getting credit.
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Mike offers advice on how to deal with old debts that are statute barred, Payment Protection Insurance (PPI), update on the bank charges case and answers calls, texts and emails. This was another fascinating debt clinic! You can listen to the show by signing up to the LBC pod cast then look for the title 'Boris calls home'.
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SunTalk
On Friday, 11 September 2009
Mike was with Jon Gaunt in the SunTalk studios taking phone calls, texts and emails from listeners on how to deal with harassment from lenders. This was a cracking show with plenty of different calls including Jon's own problem when he got a chased for an alleged debt whilst he was on holiday. Mike answers all the calls and gives some no nonsense advice on how to get back in control. SunTalk have created a separate pod cast of Mike's part on the show.
Click here to find out how to listen to future shows of SunTalk.
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Mike Thomas, aka DebtWizard, is once more live in the BBC Essex studio with John commenting on why RBS & NatWest have reduced their bank charges as from 1 Oct 2009. Mike also offers a very good argument on why he feels you can claim back nearly eight years and not six, should the banks lose the appeal. In the second part Mike discusses the pros and cons of re mortgaging your home to pay off debts, there can be serious implications warns Mike. Another fascinating show.
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SunTalk
On Friday, 28 August 2009
The theme today was gym memberships and how debt recovery firms chase members for allegedly 'unpaid subscriptions'. Mike offers general advice on what to do when this happens.
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Cracking show on bankruptcy, Mike explains to John what debts can be included and excluded in a consumer's bankruptcy, he then gives examples of circumstances when you can keep your house and car. Mike then raises a very important point about a family member or friend 'buying the bankrupt's interest' in the home for as little as £1. Mike concludes by detailing the two ways of filling out the forms and the procedure at court.
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George begins by asking Mike what the current state of the debt market is and where he sees consumers suffering the most. Mike then is asked to comment on the house repossession figures released a few days ago and explains why he feels they are misleading; he also gives three very good reasons to support his claim. Mike then offers an interesting view on why credit card companies are reducing the limits for consumers on their cards.
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Mike Thomas the 'debtwizard' is once more live in the studio talking about the 30% of callers that the debt charity CCCS cannot help because of their dire situation. In the second part of the show Mike explains what a 'Payday' loan is, how it works and offers a big warning if you cannot make that payment back at the first attempt. You can either listen again on the the BBC iPlayer, move the timer to 02.09.22, this will only be available until 6pm, Wednesday 26th August or click on our 'launch player' to the right.
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Mike Thomas is asked to comment on the house repossession figures released earlier today and explains why he feels they are misleading, he then gives three very good reasons to support his claim. Mike then offers advice to those home owners that are struggling to make their mortgage payments.
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Mike Thomas is once more live in the BBC Essex studio with John and raises his concerns for the unemployed and why family, friends and lenders need to be more supportive. He then goes on to explain why the Ministry of Justice has shut down their 100th Claims Management Firm and withdrew their licence to work. He gives examples of how the public is being duped by mis-leading adverts to write off debts etc: Another fascinating show.
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Mike Thomas was asked to comment on the government announcement that offshore tax evaders will be offered landmark Liechtenstein deal to come clean on their savings and investments. There was further comment from Glyn Davies, Tax Partner with PricewaterhouseCoopers and Graig Tulley from Gilbert Tax Investigations Limited. Several listeners also called the show and put their views across the airways.
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Mike comments on the amount of people in a debt management plan stating many of them should be going bankrupt but don't know how to.
View the article (RBS boss pledges to repair bank...) on www.mirror.co.uk
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Mirror
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Mike Thomas was asked to comment on the increase in insolvency figures released earlier today. He then explains how a bankrupt person can often keep their home and car and reminds Jonathan that the last debtors’ prison shut in 1869 and that we need to move with the times. Mike ends the show by describing how for many consumers bankruptcy is a positive way forward. 'Coming soon'
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Watch Mike Thomas explaining on the BBC News Channel why Debt Relief Orders, DROs, are only suitable for a very small number of people and that they do not help most consumers that are struggling with debt.
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Petrie asks Mike to explain exactly what a 'loan shark' is and why do people use them. Mike then reveals that you are not legally required to repay a 'loan shark' or any unlicensed money lender. He then gives advice on how to report a ‘loan shark’ and encourages listeners to seek help if they have borrowed from such a person, fascinating show.
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Mike is asked to comment on the profits and losses of the major banks who released their figures for the first six months of the year, he also raises his concern over Northern Rock. Mike next explains what a 'loan shark' is and where you can go to check up to see if any person or firm is licensed to lend money.
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Mike was on Channel 5 News commenting on Barclays profits and how it affects their customers.
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The topics for this week were the 'the dangers of lending to family and friends' and 'how to improve your credit rating'. Mike details the three important steps you need to do to help you get back on the credit ladder.
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Sarah Sutton was a successful accountant, with a partner, a daughter and a beautiful family home. But then, in a matter of months, she found herself pregnant, unemployed, single and homeless.
She tells Ruth Tierney how her world fell apart. Sarah is one of Mike's clients and is subject of the correspondence Mike is having with the PM over the increased cost for an individual to pay to go bankrupt.
View the correspondence to all political parties at Letter to PM re-bankruptcy fees.
View the article on www.dailymail.co.uk
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Mike will be live in the LBC studio talking to James Max about how people can resolve their debt issues, he will offer help and guidance and take any calls, texts or emails, should be a lively show.
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Mike was in the SunTalk studios taking phone calls, texts and emails from listeners. One caller described how they were being chased for a mortgage debt following the repossession of their home twenty, yes twenty years ago! Mike has said he will now intervene.
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Once more Mike is live in the BBC Essex studio and is asked to comment on the dangers of 0% credit card transfers and then on how to protect yourself from identity fraud.
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Mike spoke to Jenny about 'loan sharks', 'payday loans', 'log book loans' and 'door step lending', all which Jenny found rather fascinating. He explained why consumers needed to go to these type of loan companies and offered alternative ways of borrowing money.
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Mike will be talking about how and why people get into debt and what their options are on resolving their money worries. He will offer advice as well as explain the importance of completing a budget form and how to approach the lenders that are chasing for their money.
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Mike was live in the BBC Essex studios talking about why people get into debt and why it is necessary to fill out a budget form. He also covers the six options available to someone in debt and explains why many borrowers are switching from repayment to interest only mortgages in an attempt to keep their homes.
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A chat about the Nationwide Building Society after it annouced they they are offering some of its negative equity customers 125% mortgages. Mike also raises his concerns to Victoria Derbyshire about all those people that are having their homes repossessed pointing out that they can be pursued for up to 12 years for the mortgage shortfall debt following the sale of the home, and in some cases this can be extended even further.
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Carla tracks Mike down whilst on leave and asks him why people get into debt and what they need to do before they start to get control of their finances. Mike also explains how and why debtwizard.com was formed.
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Once more Mike was live in the BBC Essex studios talking to John Hayes about Individual Voluntary Arrangements, otherwise known as IVAs. Mike explained the advantages and disadvantages of an IVA, how you qualify and who pays the fees, it was another fascinating show.
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Mike is asked to comment on ever confusing utility bills and shares his own experience of a hike in his monthly direct debit to the electric company. There is also further comment from Ann Robinson from uSwitch and Kerry Williams from Consumer Focus as well as several listeners calling in to the show.
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Mike will be giving an update on the bank charges case which is currently in the Appeal Court and discuss with John the implications should the banks win or lose their appeal. Mike will also cover a new scam hitting consumers whereby some businesses are claiming to help consumers become debt free by 'buying' or 'selling on' their debts.
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Mike is asked to comment on the bank charges test case between the banks and the Office of Fair Trading (OFT) currently going on in the Appeal Court. Mike explains why the banks have appealed and what the outcome would be if the banks were to win or lose the appeal.
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This show is on the return of the 'loan shark'. Mike will cover the definition of a loan shark, how to check one out online, why the debt is not legally enforceable, what to do if harassed by the loan shark and where else you can borrow thus avoiding such a scoundrel. Mike also comments on the unemployment figures released earlier that day. Another great show!
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Tonight's topic is on 'unenforceable credit agreements'. Mike explains the history of these agreements and why suddenly so many firms are emerging claiming to get debts written off. Mike also details the pros and cons of choosing between a solicitor or claim management company (cmc) to act on your behalf. Mike then questions the claims that 80% of credit agreements are unenforceable. You can see an article on 'unenforceable credit agreements' here.
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Once more Mike is live in the BBC Essex studios talking to John Hayes about the new 'bankruptcy on line' known as Debt Relief Orders, DROs. Mike explains the qualifying criteria, procedure and why he feels they are not enough to help those millions of consumers that are struggling to repay their borrowing. The show also features a case study and talks to someone about to undertake a DRO.
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Mike is once more live in the studio with John Hayes and is talking about bankruptcy. He covers bankruptcy restriction orders, income payment orders is and why the Official Receiver investigates all bankrupts. In the second part Mike covers the procedure to go bankrupt detailing what happens at court. Mike closes after highlighting his correspondence with the Prime Minister over a request to have the cost to go bankrupt waived for six months. Another great show.
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Mike is asked to comment on someone that has £16,000 of unsecured debts, Mike goes through his options and how this person can resolve his debt issues. The article can be found here
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Mike is once more live in the BBC Essex studio and opens the show with 'unenforceable credit agreements'. Mike says he will be doing a special show on this with John in about two week’s time.
Rest of the show is on Individual Voluntary Arrangements, often referred to as IVAs. Here Mike discussed the advantages and disadvantages and how creditors vote. He then goes on to give examples of when your home is not at risk and then details that a person with debt problems should not really be paying fees up front for an IVA as they are in effect paid by the creditors! Another fascinating show.
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Mike explains the story behind the unemployment figures and raises his concerns for those that have lost their jobs. He then gives debt advice and explains the importance of completing a budget form. Second part of the show Mike highlights the key points and the pros and cons of debt consolidation loans.
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Mike comments on the unemployment figures just released covering the first three months of this year and offers advice on how to cope debts caused by the loss of income.
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Mike first comments on the insolvency figures released a few days earlier and raises his concerns on why they will increase over the coming months. Mike then explains options 4, 5 and 6 available to someone that has debt issues. This is part 2 of 2. Part 1 is available dated 29th April 2009.
This links in with the 6 Options article on this site
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Mike is asked to comment on the recently launched Debt Relief Orders, DROs, and explains why he feels they will not be helpful.
You can find the interview on the BBC News Channel under 'Business' then 'Your Money' or click here http://news.bbc.co.uk/1/hi/business/your_money/8030518.stm
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Mike was live in the SunTalk studios taking calls from all over the UK and offering advice on how to resolve those debt issues. Topics covered - unenforceable credit agreements, bank charges update and Peter, a caller to the show, who described how he is about to lose his job because he told his employer he was bankrupt.
You can watch/listen again here at http://downloads.thesun.co.uk/downloads/podcasts/player/index_suntalk_20090427.html
More on SunTalk
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Mike was asked to comment on the number of people going bankrupt or proposing an Individual Voluntary Arrangement, IVA, as experts predict as many as 150,000 may do so this year. Figures just released showed a record 19,026 people were declared bankrupt in England and Wales during the first three months of this year. You can view the article here
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Part one of two: The 6 options on how to get out of debt. Part two next week.
This links in with the 6 Options article on this site.
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In this show Mike explains how long lenders have to pursue borrowers for unpaid debts, he covers credit cards and personal loans as well mortgages. Mike then gives advice on how to respond to a lender that is claiming on an old debt. Fascinating stuff
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The Quigleys' finances are under strain. The family is saddled with £24,700 of debt, and beside their mortgage and outgoings this is stretching them to the limit. Mike comments on what they need to do to help get on top of their debt.
View this article at www.independent.co.uk
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This week's topic - 'there’s no such thing as an unsecured loan'. Mike describes how a lender can change the status of a credit card debt or personal unsecured loan and get it secured on your house! Mike also explains what creditors should be paid first and where you can go to get help for your debts. Another great show.
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Mirror.co.uk
On Tuesday, 07 April 2009
Mike comments on the case study whereby the individual is to propose one of the new Debt Relief Orders, DRO.
View the article at www.mirror.co.uk
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Dave asks Mike who will benefit from the new online bankruptcy procedure launched today, 6th April, known as Debt Relief Orders, DROs. Mike details the procedure and expresses his concern on how the new system may be exploited.
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Mike discusses the new online bankruptcy procedure to be launched on 6th April that will be called Debt Relief Orders, DROs. He explains who is eligible and who is not and raises his concerns about how it may be abused.
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The UK is a nation of borrowers - but the current downturn now threatens to topple our mountain of debt. Rebecca Atkinson interviews Mike Thomas, head of debtwizard.com, to get his view on how people can ditch their debt for good.
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Mike explains what can go wrong if you lend money to family or friends for a deposit on a house or to pay off debts. He then covers your legal position if the person you lent money to were to go insolvent or propose some form of debt management plan. He ends the show offering advice on what you can do to protect your money. Another fascinating show.
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Mike first comments on the Government clampdown on credit cards limits and cheques. Next they talk about the topic 'Are you dying to get into debt'. Mike explains in simple terms how creditors can still claim payment from a dead person. Dying to know more.. then take a listen!
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Mike comments on the umemployed figures just announced and what he calls a 'pregnant pause' which is building a time bomb. Mike then describes an example whereby a client had to hand the keys back for the family home. His last comment is on how the unemployed and those in debt need support from family and friends to help get through their debt problems.
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Mike comments on the Government proposal to crack down on credit card companies that up people's credit limit without consulting them. Although Mike supports the Government's stance on this he raises concerns that this may lead to an increase in personal insolvencies.
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John opens the show infoming Mike about how a friend of his had his credit card cloned, Mike responds with useful tips on how to deal with this and prevent it from happening again. Mike also gives an update on the bank charges test case expalining what the outcome means to the consumer and why it is still important to register a claim. He finishes by detailing how to do this and where the template letters can be found to start the process.
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Here Mike explains, in simple terms, what quantitative easing is all about and also highlights his concerns if too much money is pumped into the economy. Mike is also joined on the show by David Kuo from fool.co.uk.
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Mike is asked to comment on a recent poll which revealed that around 50% of consumers said they were not affected by the recession and down turn in the economy. Mike offers his views on what type of consumer this would be and also high lighted the three key points we need before recovery; cash, availability of credit and confidence.
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Mike discusses two case studies, the first is a paramedic with £27,000 of unsecured debt and the second is a civil servant with unsecured debts of £84,000 who was about to come out of his pension to enable increased payments to creditors. Mike explains the facts for each case study as well as the options available and the final outcome, he also reveals how the pension was saved.
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Mirror.co.uk
On Wednesday, 25 February 2009
Mike comments on the new Debt Relief Orders, DROs, that are due to become law on 6th April 2009
View the article at www.mirror.co.uk
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BBC News 24
On Friday, 20 February 2009
Mike explains why he feels the house repossession figures released for 2008 by the CML are being distorted by 'Sale and Rent Back' schemes. He then offers some important advice on what to do if your home is about to be repossessed and answers some emails sent to the news channel.
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Following last week's theme on 'Pay Day' loans Mike speaks about 'Log Book' loans. He explains how you put up your vehicle as security for the loan and details what the criteria is to be accepted. Mikes finishes on what are the advantages and disadvantages and warns listeners that you can lose the vehicle if you default on the payments. Don't forget the cost as well, an APR of 435%. Another great show.
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This week's topic is 'Pay Day' loans. Mike describes what they are and why some people need to use them. He puts in plain words what the definition is of 'APR' and how it can range between 1,355 to 1,845 per cent on these loans. John says it is 'unbelievable'
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Mike is asked to comment on the historic interest rate cut that was just announced by the B of E. He then explains the winners and losers of lower interest rates and what he feels the government needs to do to help savers. His final comments are on high bonuses paid to the fat cats of the banking industry.
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This week's topic 'Black Friday' - 6th February 2009.
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Another very busy show with Mike live in the studios of TalkSPORT radio where he helped many callers with debts ranging from £6,000 to over £200,000 find solutions to their problems. Topics covered included bankruptcy, debt management plans and Individual Voluntary Arrangements, IVAs. Mike also gave an update on the bank charges case and spoke about how Citizen Advice Bureaus could be a thing of the past with the new CLACs replacing them.
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This week's topic' - Who is better off with a 0% credit card transfer? In this show Mike covers the balance transfer fee, the costs of using the card abroad and how the credit card provider can manipulate the debt. He points out why it is so important to ensure you make the first payment upon transferring the balance. He closes the show on the plus side highlighting the consumer protection you can get when purchasing above £100 and offers his tips on keeping the charges down.
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'It's not a crime to be in debt!' is this week's topic. Mike details what harassment actually is and explains to John what a borrower can do to stop continued harassment from a lender. He offers useful tips and gives advice to several texts and emails that came into the show.
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Jonathan Vernon-Smith asks Mike what savers can do to boost their return. They also dicuss the benefits of using savings to pay off higher interest debts such as credit cards and how much protection you have should the bank go bust.
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Bank phoned dying debtor 313 times.
View the article at www.timesonline.co.uk
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Times
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Beat the Record Rise in Debt.
View this article at www.sky.com
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Sky
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How much are we worth? Mike explains what identity fraud is and how it can affect anyone. He offers useful and simple tips on how to prevent someone taking your identity. There is also a caller on the show that reveals how she found out that money was about to be taken from her account illegally. Mike ends the show talking about CIFAS an organisation set up to make it more difficult for someone to take out loans or services in your name.
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Mike discusses how hard savers have been hit by the low interest rate and offers some advice.
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Essex FM
On Monday, 12 January 2009
Mike is asked to comment on the increasing number of individuals that are being made bankrupt for non payment of council tax.
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Mike comments on how the interest rate cut just announced by the B of E will continue to hit savers hard, he also argues that savers have previously had the good times when rates were nearly 6% just 12 mths ago. Mike also explains what types of mortgages will benefit and finishes on what he calls the 'hidden debtor' and how this could stall recovery.
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This week Mike explains to John the need to keep on top of your finances and he offers some very useful tips on how to keep that expenditure down.
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Viking Radio
On Wednesday, 07 January 2009
Mike is asked to comment on Cattles Bank after they stated they are laying off staff due to the down turn in business.
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