New rules on energy selling have just come in but are they enough to protect householders?

New rules on energy selling came into force on 18 January 2010, but are they enough to protect the householder?

We cover the reasons for the Ofgem investigation, what they found, the new 'written quotation requirement and importantly, how to deal with a door seller.

You can see more on this article at ...... 'Honest guv, we are the cheapest, trust me...

Government to outlaw Log BooK Loans as complaints soar?

The concept of this style of loan goes back to Victorian times but now they could be banned under new government proposals.

In the year ending March 2009 there were nearly 40,000 Logbook loans made, worth £30 million.

Over the past 4 years more than 1,000 people have complained to the OFT about these type of loans - Read article.

Have you lived the lifestyle of your dreams but not within your means?

How many people are wishing they had not done just that as their credit card bill hits the doormat with a thud?

Well it’s too late now and for some their excesses over the past couple of months have come home to roost especially as debt-help firms cite the 20^thof January as the Consumer’s darkest day of the year.

More on this and the DIY guide on what to do if this is you, all on Mike's blog.

Debtwizard 6 option guide to controlling your debt

You have six options available when debt problems arise.

Not all will apply, it depends on your level of debt, your assets and how much spare money you have after paying essential bills.

All these options, except for No.4 where you pay creditors in full, will affect your credit rating. All options can be found at:

Debtwizard six option guide to getting out of debt.

Spare a thought for the unemployed

With the unemployment figures just released creditors and families need to support those who are out of work.

Many will not address their debt issues for well over a year from when they first arose: some will drop into depression or turn to alcohol, gambling or even crime in an attempt to solve their debt problems.

Read more here

Husband hid debts of £56,000

A husband hid from his family unsecured debts of £56,000 consisting of loans, credit cards and overdrafts.

For years he borrowed from one lender to pay another and his liabilities had reached such a level that his monthly payments to creditors far exceeded his income.

You can read more on this including the advice and outcome at our case study.

LBC, Radio 5 Live and Guardian on-line debt clinic

LBC Mike was live in the LBC studio with James Max on a New Year debt clinic and delivered real no nonsense advice covering bankruptcy, IVAs, what happens to a house in a bankruptcy, how to improve your credit rating and help on how to deal with firms chasing 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.

Radio 5 Live 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 of how to keep your house in a bankruptcy. Listen

Guardian on-line debt clinic was on their Money blog on Monday, 18 January, it will stay up on the site so that people can use it for reference. On the panel of experts with Mike answering questions was the Consumer Counselling Service (CCCS).

The dangers of paying your mortgage or rent with plastic

Recent research by Shelter threw up a shocking statistic; one million householders have used their credit cards to pay their mortgage or rent over the past 12 months.

But be warned, paying on your card can still lead to losing your home.

Mike explains more on this and where to help if in mortgage or rent arrears on his recent blog.

Debtwizard's top 10 tips on how to avoid getting into debt.

Here are some of the tips..........

Sometimes it’s better to ‘save to spend’ rather ‘borrow to spend’.

If you don't need it, can't afford it then don't buy it!

Never borrow more than you can afford

You can see all 10 tips and his motto at the Debtwizard's top 10 tips.

Free Budget Wizard

The Budget Wizard can be used to help you avoid getting into debt. If it is too late and your finances are out of control then this unique form will quickly establish your position and predict how much your debt will increase over the next one month, 12 months or five years.

Completely free, web based and private. You can log in and work on your budget wizard anywhere there is an internet connection. Budget Wizard

Latest Debt News

The latest debt related news since the last email.

- Have you lived above your means?

- 6 option guide to gettting out of debt

- Log Book loans to be banned?

- New rules for energy sellers

- Free budget wizard

- Husband hid debts of £56,000

- LBC, Radio 5 Live & Guardian on-line

- Paying your mortgage on credit cards

- UK debt numbers for December

- Spare a thought for the unemployed

- Debtwizard's top 10 tips

See the news archive

Future Shows

Radio and television appearances can often be at short notice.

If you are interested in Mike's shows then keep checking the home page for details, homepage.

Quick Links

DebtWizard Budget Form - free

Designed to identify exactly what is going on with your finances. This form is unique with its built in debt predictor. If things look grim you can send it to us for further help.

- Start your own budget form

Radio/television/press

As well as radio and TV, Mike is involved with some of the national newspapers; you will find all these on our media page.

We upload the shows on a regular basis and there are still more to be added over the next few days.

- DebtWizard media page

UK Debt numbers for December - Christmas special

Barclaycard said Christmas transactions peaked on Saturday 19th December at 370 per second at 12.48 pm.

230,137 unsolicited telephone calls made to UK consumers daily by debt management and personal loan companies.

There are more credit cards in the UK than people. At the end of 2008 there were 71.3m credit and charge cards in the UK compared with around 60 million people in the country.

- View more credit stats here

Blog & Twitter

Mike is blogging and twittering, just click on either link

- blog - follow Mike on twitter

Top 10 sections on website

1. Bank charges latest updates
2. Budget wizard - free
3. Unenforceable credit agreements
4. Unenforceable credit agreements - firms that help
5. The Limitation Act (Old debts)
6. Six options to getting out of debt
7. Contact
8. Bank charges - RBS & NatWest jumping before being pushed?
9. Who we are
10. Credit card charges

We want to hear your story

If you're happy to share, we have numerous TV stations and newspapers looking for your story.

Have you been made bankrupt? Applied for an IVA?

Do you have a horror story about dealing with a lender or company that you owe money?

Are you harassed by debt collection agencies?

We are interested in your story, can we help you?