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Daily Mirror reports on Mike Thomas, founder of debtwizard.com, warning that consumer insolvencies for next year will be the worst since records began in 1960.
Click on the link to the right to view the article.
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miror.co.uk
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Mike explains how Debt Relief Orders DROs work and where consumers can go to get debt advice.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (7 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer No longer on the BBC iPlayer.
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Mike was in the studio talking about PPI claims and revealed how much you can pay in fees if you use a 'Claims Management Company' and that you have to declare the interest element refund on any tax returns!
BBC iPlayer No longer on the BBC iPlayer.
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Mike was with another guest Paul Lewis from Money Box on the phone-in helping listeners overcome their issues with banks.
BBC iPlayer No longer on the BBC iPlayer.
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Mike was live in the studio explaining why consumers need to take out Payday loans, the qualifying criteria and how it can go horribly wrong. He also mentions why they are banned in some states in the US.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (7 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer No longer on the BBC iPlayer.
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The festive season maybe just around the corner but after a tough year in the job market and with many individuals and families still feeling the pinch, it’s easy to panic about how to fund Christmas once again. Mike will also explain what to expect when you go to get that important debt advice.
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Mike gives an update on Jane who was on a previous show and had stopped eating so as to be able to pay her debts! He explains the triggers for people getting into debt and how the culture has developed over the past 15 years to have now and pay later.
Launch player You can listen to Mike's bit by clicking on the 'Launch Player' (21 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer No longer on the BBC iPlayer.
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Launch player
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Mike starts the show by explaining his background with how he got into the debt industry after serving in the Metropolitan Police. The first caller was about how to deal with a debt collector chasing for an 'old' debt, next came Steve who has taken out 65 PayDay loans over 18 months leaving him £22,000 in debt!
Repossession debt was the next topic with Mike explaining how long mortgage lenders can pursue people for the shortfall debt following a sale at auction. Next up it was how to deal with a debt collector chasing you for bank charges.
Mike answers one text about what to expect when someone goes to a meeting with the CAB, this was followed by non payment of Hire Purchase on cars and the pitfalls of Log Book Loans (borrowing against your car).
One listener asks if they can sell their car if they have finance on it, Mike says no, it's a criminal offence. Another listener wanted help as he was being chased for a debt already included in his IVA. Mike then explains the major changes being proposed in consumer bankruptcy. PPI also cropped up with the government about to claim tax on the interest payments and how debt collectors were 'poking' debtors. Great content, great show!
Launch player - You can listen to Mike's bit by clicking on the 'Launch Player' (48 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
BBC iPlayer - No longer on the BBC iPlayer.
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Mike is called to help one listener (Neil) after he was on the show the day before, he describes how he is being chased by a debt collector for a debt he thought he did not have to pay as it was in his bankruptcy. Mike then explains what debts can and cannot go in a consumer bankruptcy and reveals some surprising news about new proposals on how bankruptcy fees may be paid in the future as well as removing the need to go to court.
You can listen to Mike's bit by clicking on the 'Launch Player' (4 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
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Mike explains how easy it is to get into debt and what is one of the first indicators that you have money worries. He states that over the past 15 years there has been a culture of must have now and pay later fuelled by slick marketing and easy availability of credit; this has caused tremendous money worries to consumers.
Very concerning is what he revealed on air to Molly about the sales of pills for depression compared to pain killers.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
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The Daily Mirror reports on DebtWizard's suggestion of extending the time for consumers to pay the ever increasing bankruptcy fees.
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miror.co.uk
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Mike was asked to give tips on protecting yourself from identity fraud and made a surprising statement.
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Mike was asked to comment on David Cameron's "deal with your debts" speech expected later today at the Conservative conference; Mike says it comes across as "condescending"... and much more. Vanessa also reveals the startling income and wealth of the PM
You can listen to Mike's bit by clicking on the 'Launch Player' (12 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
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Flash car, boob job, shopping... spending like a WAG made me bankrupt TWICE. Women who've gone bust trying to live like celebs.
Mike Thomas was asked to comment as millions of women dream of living like a WAG but only to find their life can become a nightmare after splashing the cash.
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thesun
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Mike was live in the studio with Keith, topics covered, triggers of debt, debt trade associations, how a debt collector posed as a lawyer and lost his licence, bankruptcy restriction orders, PPI claims, debt collectors on commission, why consumers need a debt survival kit, IVAs, how to rebuild your credit file and how to check a debt collector is licensed, plus calls, emails and texts from listeners. Great content, great show!
You can listen to Mike's bit by clicking on the 'Launch Player' (60 mins).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
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Mike spoke about how consumers are changing their spending habits and paying off their debts quicker. Then he warns that any interest rate hike would be disaster for many householders.
You can listen to Mike's bit by clicking on the 'Launch Player' (4 mins 11 secs).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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 Mike reveals his background and how he came about helping people in debt. Topics: how one bankrupt is 'earning' £3,700 per week whilst in prison. The downside of a debt management plan, cons of a 0% credit card balance transfer. Know your rights with a bailiff.
Then there was a caller who needed advice on how to clear debts of £23,000, another listener called in worried about his daughter's debt and how this would affect his house and credit rating. This prompted another call who wanted advice about £30,000 of credit card debt and whether she would lose her home. This was followed by a text from one listener that Mike said really needed to get advice, pronto! Fantastic topics and callers!
You can listen to Mikes bit by clicking on the 'Launch Player' (46 mins 23 secs).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You are advised to seek professional advice on any debt issues you may have.
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Mike was asked what students and parents can do about the predicted average debt of £54,000 for those starting University 2012. He offers useful tips for parents and gives a big warning to students that think they will just go bankrupt to clear their debts.
You can listen to Mike’s bit by clicking on the 'Launch player' to the right. (4 minutes).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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With many students expecting huge debts from University Mike offered advice to both parents and students on how to best manage their money.
He also warns that interest and inflation is to be added to the student debt from 2012 and that for many it will take around 26 years to clear provided they can seek a job paying at least £48,000 per year.
You can listen to Mike’s bit by clicking on the 'Launch player' to the right. (8 minutes 40 seconds).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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On the show is Liz, one week on from taking advice from Mike with £100,000 of debt and Simon who describes how his debts are getting just too much.
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Mike is in the studio with Jonathan and takes several calls, first on is Liz with unsecured debts of £100,000 and fears her home is about to be repossessed. Then we have Jane who has stopped eating through the need to repay debts, she gets quite upset and even Mike says it was a difficult call.... but he has a way forward!
Also discussed PayDay Loans and Log Book Loans. The four key reasons why consumers get into debt.
You can listen to Mike’s bit by clicking on the 'Launch player' to the right. (33 minutes).
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 with Natasha Ramrous from the Birmingham Settlement helping listeners resolve those debt issues.
Topics covered to follow - High energy costs and how consumers can get some help from 'Trust Funds'. UK debt key stats and what to do when you first get a debt problem. Mike also explains how bankruptcy works and gives an example when you can still keep her home after going bankrupt.
You can listen to Mike’s bit by clicking on the 'Launch player' to the right. (27 minutes & 43 seconds).
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 the price increase by British Gas and what consumers can do to combat this. (5 mins)
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable. Will drop off the BBC iPlayer Saturday 16 July 2011.
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Mike was asked what consumers need to do about energy bills after one supplier announced a 19% increase starting from August this year. No longer available on the BBC iPlayer.
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Mike was talking to Jonathan about whether people can get by without debt. He mentions how one police officer has £88,000 of credit card debt paying £2,000 a month to his creditors. They also comment on who is to blame for the debt culture and the importance of a budgeting. No longer available on the BBC iPlayer.
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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 - dangers of moving credit card debt to 0% balance transfer, one listener received a letter claiming she may have been mis-sold an IVA, Payment Protection Insurance (PPI), how to deal with old debts and a debt you dispute plus lots more.
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Mike was live in the studio talking to Mark Matthews about what consumers need to do now following the High Court ruling earlier in the day on Payment Protection Insurance (PPI).
You can listen to Mike’s bit by clicking on the 'Launch player' to the right. (5 minutes & 30 seconds).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike speaks with Jonathan about why he feels around one million UK consumers need to consider going bankrupt. Also on the show is one lady that had to go bankrupt because of her husband running up debts in her name of £32,000. Another lady calls the show with £135,000 of credit card, personal loan debt and a mortgage shortfall after having her home repossessed. Mike offers advice on how this person should be dealing with her debts. This was a cracking show. (20 mins)
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike will be talking to Ian about how the elderly can easily fall into debt and what they need to do to best manage their finances.
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Mike Thomas aka 'the DebtWizard' was in the studio with Keith Middleton offering advice on how to manage debt issues. Mike answers numerous texts and emails as well several calls from listeners, topics - the benefits of an IVA, who pays the fees and how to find a firm that will help you propose one to your lenders. House repossession debts, one caller was still being chased for a mortgage shortfall from 1991. Another caller had pawned all her gold jewellery for £16,000 and had not told her family.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mike was in the studio with Paul Craig, an Official Receiver based in Birmingham, discussing consumer bankruptcy, the procedure and the alternatives. They also answered calls from listeners. Approx 16 minutes.
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable. Will drop off the BBC iPlayer Wednesday 24th February 2011.
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Mike helped LBC listeners overcome their problems, topics included, Chris a builder with debts of £20,000, Adam a former prison officer with debts, Michael from Brighton who had racked up around £150,000 on 25 credit card debts, Emma in rent arrears with landlord, Payday loans charging 2,600%, how to disassociate on your credit file from other family members, how credit unions work, Robert who hid his debts from his partner, Gary with business rates problems.
To hear the show you need to go to LBC listen again and subscribe to the podcast 'James Max 6 Feb 2011' Mike is on at 6.05 pm until 7 pm.
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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 - Gary who managed to pay back £90,000 of unsecured debt now needed advice on rebuilding his credit score. Eric, a serving Police Officer, wanted to know his options with debts at around £15,000 plus lots more including the 'Debt Survival Kit'.
You can listen to Mike's bit by clicking on the 'launch player' to your right (38 mins and 10 secs).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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The Insolvency Service has just launched a new campaign for consumers called 'Dealing with your debt'. Mike explains why it is necessary and how their guide will be of great help to those consumers seeking help with debt issues.
You can listen to Mike's bit by clicking on the 'launch player' to your right. (3 minutes 42 secs)
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
You will find the guide under 'Helpful organisations', once there look for 'The insolvency Service to Dealing with debt'.
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Mike was commenting about why The Insolvency Service launched their 'debtor's guide to getting out of debt'. Also on the show was Andrew Kelsall, an Official Receiver from Norfolk.
You can listen to Mike's bit by clicking on the 'launch player' to your right. (16 mins and 4 secs)
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 with Natasha Ramrous, Debt and Benefits Adviser from the Birmingham Settlement, helping listeners come to terms with their debt issues.
You can listen to Mike's bit by clicking on the 'launch player' to your right (38 mins and 10 secs).
Remember this is a BBC recording therefore any competitions or prizes are no longer applicable.
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Mirror
On Wednesday, 05 January 2011
How to deal with your debts and take control of your finances for the new year. Mirror on-line
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Mike will be talking about how consumers can best manage their debts following the festive spending spree.
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