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Mike explains the key change in policy by The Insolvency Service that will affect all consumer bankrupts post 1st December 2010.
You can listen to Mike's bit by clicking on the 'launch player' to your right.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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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. One call is about how one listener has 'inherited' £35,000 of debt from his ex partner. Some of the topics covered; how to complain about an energy supplier, paying your debts off as you watch television, £40,000 house repossession debt, time limits lenders have to recover old debts, what the UK insolvency figures means to us consumers and how to end an IVA early.
You can listen to Mike's bit by clicking on the 'launch player' to your right.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike talks to Ian about why consumers are taking great pleasure in telling others about what they don’t have rather than what they do have. Mike then explains how over the past 15 years or so we have all been encouraged to borrow through slick marketing and easy availability of credit and now society and morals are changing, and they needed to!
To hear the show you need to go to LBC listen again and subscribe to the podcast 'Queen Camilla anyone? - 19 November 2010'. Mike is on around 8.45 pm.
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Mike spoke about the UK consumer bankruptcy figures due out later that day.
To hear the show you need to go to LBC listen again and subscribe to the podcast 'Who blinked first in the fire fighters dispute? - 5 Nov 10'. Mike is on at 8.30 am.
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Pay off your debts by watching television! Mike explains how some of the poorest members of our society are paying off their debts through slot meters attached to their televisions!!!
You can listen to Mike's bit by clicking on the 'launch player' to your right.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike answered numerous questions on debt issues covering bankruptcy, car finance agreements, how to add information to your credit file if it is inaccurate, how to deal with old CCJs, debt management plans. One caller asked if he could be made bankrupt with debts of £500,000 and another wanted to give her son a credit card and wanted to know if this was a good idea.
To hear the show you need to go to LBC listen again and subscribe to the podcast 'James Max 31 Oct 2010' Mike is on at 6.05 pm until 7 pm.
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Mike was live in the studio taking helping listeners resolve those debt issues.
You can listen to Mike's bit on the show by clicking on the 'launch player' to the right.
Topics covered, why I undertook a counselling course, the importance of doing a budget, the pros and cons of debt charities against commercial firms re the fees and level of service. Also who pays the fees in an IVA, the dangers of doing a 0% balance credit card transfer, reasons why consumers get into the debt (the four main triggers), how credit unions work, are they any good and how to join one, plus how to reel in a loan shark. Somewhere in the show we drop into Mike's car having a problem on the way to the show and we go into sweaty socks at airport security! Fun show.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike was asked to comment on how and why we hide our debts from our partners. He explains how to spot the early signs that may indicate this is going on and why people are reluctant to inform their loved ones. If they fear they will separate and not get the support of their partner then he question the strength of their relationship.
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Topic was Credit Unions, are they worth it, how do they work, how do you qualify to join one?
You can listen to Mike's bit on the show by clicking on the 'launch player' link to the right.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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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, topics - tax underpayment letters, doorstep lenders/loans sharks, triggers of debt, bank charges update, Debt Relief Orders (DROs), dangers of log book loans and debt charities versus commercial firms.
You can listen to Mike's bit on the show by clicking on the 'launch player' link.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike helps out with a listener whose wife is seriously ill and being pursued for credit card debt. He explains how to get the creditors to suspend the accounts and the process of getting power of attorney to deal with her financial affairs. Mike then details how the debts can still be payable even after someone dies.
You can listen to Mike's bit on the show by clicking on the 'launch player' link.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike was live in the studio taking helping listeners resolve those debt issues. Topics covered - Debt relief orders, triggers for debt, loan sharks and can consumers sell their debts, plus much more.
You can listen to the whole show or just Mike's bit on the the BBCiPlayer on this link BBC West Midlands Ed Doolan Show, for Mike set timer to 01.18.00, runs for approx 40 minutes.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable. Will drop off the BBC iPlayer Monday 23th August 2010
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As figures for those going bankrupt drop 20% Mike explains why some debt advice firms steer debtors prime for bankruptcy to other arrangements such as IVAs and debt plans. He also staggers Dave Monk when he reveals the fees for advising bankruptcy compared to an IVA, which by the way, numbers are up 10%.
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Mike was live in the studio with Ken Crowther, who's sitting in for Steve, and explains how IVAs can work for consumers detailing how lenders vote and who pays the fees. Mike also helps one listener plan a way forward after he had been made redundant and could no longer afford to pay his credit card bills. Another subject covered is how you cannot sell your debts to avoid payment and unenforceable credit agreements. Plus lots more!
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike was commenting on the benefits of paying off your mortgage early as apposed to saving. He also explained a simple and cheap process of how parents can safeguard their money that they give to their children for deposits on homes.
You can listen to the whole show or just Mike's bit, for Mike click on the BBCiPlayer - BBC Tees - cash clinic and move the timer to start 01.36.00 ends around 01.42.30
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable. Will drop off the BBC iPlayer Monday 2nd August.
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Mike Thomas aka 'the DebtWizard' spoke live to Keith Middleton offering advice on how listeners can manage debt issues. Topics covered include Debt Relief Orders (DROs), bankruptcy, fee charging debt management companies v debt charities and how to deal with a debt collection agency chasing a debt over 6 years old, plus lots more.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike was talking live to Jason Mohammad about whether banks are ripping off consumers with continuing bank charges. Also on the programme, representatives for the Financial Ombudsman Service (FOS) and British Bankers Association (BBA).
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Mike helps one listener deal with a debt collection agency chasing her for a debt over 10 years old. He explains what this lady should do and how to respond, basically it is statute barred and cannot be enforced through a court of law.
He offers template letters consumers can use and clarifies harassment. Finally he explains how debts are often sold on by lenders for a fraction of the price.
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Mike comments on the LloydsTSB decision to cut bank charges for going overdrawn from 2 December 2010. He also explains about the new challenge on bank charges in Scotland concerning Jennifer Sharp and the Bank of Scotland.
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Mike will be talking to Jon Gaunt about the credit card binge of UK consumers that will force thousands into bankruptcy. Mike also raises his concerns about the effects the emergency budget will have on consumers.
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Mike was on a selected panel of experts to help listeners and callers to the studio understand the impact of the recent emergency budget.
Unfortunatley this show is no longer on the BBC i Player
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Mike is asked by Heart FM to comment on the budget and says, "My initial feelings are it's going to be difficult. It's going to be tough for a lot of people but we could not have carried on the way we were."
He goes on to explain how this will affect consumers and raises his concerns about the VAT rise for some households and what they need to do to control their spending. Mike also reveals his highs and lows of the budget and questions why footballers for example earning £120,000 per week are still entitled to child benefit.
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Mike is asked to comment on a report that females are spending more money than males and many run out of cash just a week after being paid. Mike explains how and why some people get into debt and offers a theory to James why some people need debt to make them get up in the morning and go to work.
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Jon Gaunts calls up Mike for his views on the theory that Derrick Bird was under pressure with debts.
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Mike comments on the reforms for consumers in the Queens speech focussing on aggressive bailiffs and how the coalition government intends to protect homeowners from losing their homes through unsecured debts. Mike also reveals a new bank charges test case in Scotland which is due to be heard on 11th June and why he feels this has a greater chance of succeeding.
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Once more Mike Thomas was live in the studio with Steve Scruton taking your calls, texts and emails on any debt questions.
Topics covered - New case due in court on bank charges, the procedure of going bankrupt from how to fill out the forms and what happens at court, the dangers of 0% balance credit card transfers, can a bankrupt be discharged after six months, why Mike thinks a million consumers need to go bankrupt and what you can do about loan sharks.
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Mike spoke to Jenny about the recent insolvency figures detailing record numbers of consumers going bankrupt.
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Mike Thomas aka 'the DebtWizard' was live on the show with Keith Middleton taking calls, texts and emails offering advice on how to manage those debt issues.
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Mike Thomas aka DebtWizard was live on the show with Caroline Martin taking calls, texts and emails about how to resolve those debt problems.
We will have a copy of the show soon. Please come back.
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Mike was live on the show talking about a failed government strategy that was initially set up in 2004 to help consumers with unmanageable debt. Mike also refers to the problems facing Sarah, a caller that was on the show earlier.
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Mike Thomas aka DebtWizard as talking to Will Batchelor about debt and took calls from listeners as well as answering emails and texts.
Some of the callers that were helped; Jay who has lsot his job a year ago and need help with debts of £2,500. A lady expecting her second child who had debts of £15,000. Then there was Paul from Rugby who had credt card and loans nearer the £190,000 and had lost £300,000 in his pub business, plus the home was repossessed! Lisa had catalogue debts of £3,000, Kevin had £30,000 of unsecured debt and needed direction. Near the end came Steve from Kings Norton who managed to borrow thousands of pounds. Just click on the launch player to the right.
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Mike was live in the BBC studio with Steve Scruton taking calls, emails and texts on any debt problems.
Mike is one of the guests that features throughout the entire show which starts at 2 pm until 4 pm. Topics covered; how to claim Payment Protection Insurance (PPI), how to check and amend your credit rating for free, how one caller has reduced his debt from £27,000 to £10,000, Jackie wanted to know how to get a loan for £2,000 to clear her four store cards, how Terry reduced his credit card debt form £15,000 to £6,000, how Steve is paying back a debt until the year 3456! Simon from Braintree wanted advice on an Individual Voluntary Arrangement (IVA) and Martin on how to save his house from repossession.
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Mike is due in the LBC studio with James Max at 6pm and will take calls, emails and texts on any debt problems.
You can listen to LBC on 97.3 FM or on-line at lbc.co.uk.
Email your debt query to james.max@lbc.co.uk or phone: 0845 60 60 973 or text: 84850
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Mike comments on a why he feels Individual Voluntary Arrangements (IVAs) are above the national average for Essex and explains how an IVA works for consumers in debt.
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Mike explains why he believes the Government’s increase in bankruptcy fees, due on April 6th, cannot be justified. He details how the Government can still earn money from bankrupts through income payment arrangements, a nil tax code and by selling cars and houses of the bankrupt. Mike covers what happens to the bankrupt if he/she borrows money with no intention of paying it back.
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Jon Gaunts calls up Mike for his views as he knew he was a Metropolitan Police Dog Handler before he went into debt counselling and wanted his comment on the Nottingham Police Dog Handler PC Mark Johnson. The officer had just pleaded guilty to animal gruelty after his two dogs died in his vehicle during a heatwave. Mike gives the run down on Police Dog training, how much a Police Dog is worth and what concerned him about the case.
Mike closes the show with some important news about a bank charge case being revived in Scotland and the implications this could have.
You can listen to the whole show by clicking 'launch player' to the right, if you just want to hear Mike's bit of the show then slide the counter to 53.00 and end at 01.00.53
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Listen to Mike on SunTalk
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Mike explains how easy it is to claim back Payment Protection Insurance (PPI) yourself without the need to employ a firm and pay additional fees. He details the two template letters you may need, both on www.debtwizard.com and what to do if the insurance provider rejects your claim.
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Mike comments on why he feels the CML figures masked the true total of repossessions which would spiral higher again this year.
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Mike was live in the studio and talking about how to deal with debt collectors chasing you for a debt that you do not owe. He details how and why you need to respond in writing and to send your letter by recorded delivery. He then offers ways of preventing this from happening again by giving tips on what letters to shred and how easily it is to look out for secure websites before inserting data.
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Mike explains bankruptcy procedure, what income payments orders and bankruptcy restriction orders are. He also gives an example of how a bankrupt can still keep their home, even if it is mortgaged, and why he feels the true insolvency figures should be nearer the million mark and not 134,000 for 2009.
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Mike explains why he feels the true insolvency figures should be nearer the million mark and not 134,000 for 2009. He then reveals that some debt advisers steer vulnerable and desperate consumers to IVAs and debt management plans so that they can earn fees, even if this is the wrong option for the consumer. He also comments on why the industry needs to be regulated and that it could happen this year.
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Mike is asked to comment for the Times on their article about a 73 year old pensioner who received miss-leading advice on how to resolve his debts, which demonstrated that the debt industry is in disarray.
You can read the article 'Conflicting debt advice offers no relief' at the timesonline.co.uk.
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Live debt clinic on guardian.co.uk/money. The debt clinic was on their Money blog from 1pm on Monday, 18 January, it will stay up on the site so that people can use it for reference. On the panel of experts responding to questions were Mike Thomas aka 'Debtwizard' and the Consumer Counselling Services (CCCS).
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Mike was asked by Jason Mohammad whether the 'Pound shop' is really any good for consumers. What he said will surprise you!
You can hear Mike's contribution to the show on BBC Radio Wales - phone-in about 'Would you shop at Poundland?' by clicking on the 'launch player'
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Mike was live in the LBC studio at 6 pm on Sunday 10th January with James Max on a New Year debt clinic.
He managed to get through twelve phone calls to the station and delivered real no nonsense advice covering bankruptcy, IVAs, what happens to a house in a bankruptcy, how to improve your credit rating and two callers needed help on how to deal with firms chasing them for debts that were more than six years old.
More can be found on his blog dated 13th January 2010 plus details of how to listen to the LBC podcasts.
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Festive Finances Surgery with 5 Live. Mike was in the studio live with presenter Andrew Verity giving advice on several topics including student loans, the importance of budgeting, touching on debt options such as debt management plans, IVAs and bankruptcy. Mike gives an example when not to go bankrupt as well as how to keep your house in a bankruptcy. You can listen to the show by launching the media player to your right.
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