Unenforceable credit card and loan agreements

What you need to know about unenforceable credit card and loan agreements, covering the pit falls and who to choose, Claim Management Company (CMC) or solicitors?

In simple terms we detail the background and explain why some agreements are unenforceable. We also show you examples of 'mis-leading adverts' and how to check if a CMC is regulated to work on your behalf.

Finally, we highlight the four key questions you should ask a CMC or solicitor before you instruct either one to see if your agreement is unenforceable.     All can be found here

Major change looms over civil debt

The Ministry of Justice, MoJ, is considering reducing the statute of limitations for civil debt from six years to three.

Creditors are given a fixed period of time to chase their debtors and the time scale mainly depends on the type of debt and can be extended at the courts discretion. The time limit begins when you last admitted owing the money or made a payment. This article can be found here.

Bank charges latest updates

The banks are back in court on the 22nd June to launch their appeal against the previous ruling in February when the High Court found in favour of the Office of Fair Trading (OFT) - More here

Financial Hardship - We detail what the criteria is for financial hardship rules, we list examples and guidance on how to approach the bank if you are suffering financial difficulty. More here

With 3 million people expected to be unemployed by the end of the year there is real concern about how these individuals will motivate themselves into getting back to work.

Unfortunately some will drop into depression or turn to alcohol, gambling or even crime in an attempt to solve their debt problems.

Click for more of the DebtWizard comment

Around 42,000 people successfully proposed an IVA to their creditors last year. We help you understand what debts can be included and what cannot.

We also detail the pros and cons of such an arrangement, how the voting works and what to do if you wish to end the IVA early.

Finally we cover how the fees are paid by lenders and not you!

More on IVAs can be found here

Thousands forced to use 'loan sharks' according to government report

With millions of consumers in the UK finding it difficult to meet monthly bills it is inevitable some will fall foul of the 'Loan Shark'.

We explain how to check up on a loan shark, what to do if you have already fallen for one, how to deal with harassment and answer the question, 'do I legally have to repay a loan shark?

This article can be found here

Debtwizard asks the PM for help

Latest - Received new letter from Insolvency Service to which Debtwizard has responded. Both these letters will be posted on the website soon.

Debtwizard is asking the PM to take decisive action in helping consumers that cannot afford the new bankruptcy fee of £510.

We have responses from both the Tories & Lib Dems. View all correspondence here.

CPI, RPI and Deflation explained

UK annual inflation slowed in May as it still remains above the Bank of England's target rate of 2% according to figures released from the Office for National Statistics (ONS).

Do you understand these terms?

If not then we explain what inflation is (CPI, RPI) as well deflation, all in simple terms, just click here

The latest debt related news since the last email.

· Bank charges latest news

. Thousands forced to use loan sharks

· Major changes loom over civil debt

. Unenforceable credit agreements

· IVAs - all you need to know

. Hidden cost for the unemployed

. PM & bankruptcy fees update

. CPI, RPI & Deflation explained

See the news archive

Every Wednesday - 6.10pm
BBC Essex - John Hayes Drivetime
Topical discussion on debt and consumer related issues

All radio and television appearances will be posted on the homepage

Case study

Police officer with unsecured debts of £84,000. In this case study Mike shows how an Individual Voluntary Arrangement, (IVA), was a useful tool in alleviating a police officer’s debt problems and how the officer managed to keep his pension and avoid bankruptcy.

. We detail the facts, the advice and the outcome here

DebtWizard Budget Form

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

Media

Missed Mike on the radio or TV? We have uploaded some more shows and any 'coming soon' will be added over the next few days.

As well as the radio and TV, Mike is involved with some of the national newspapers; the media page is the place to find these as well.

· Media page

Credit stats

33,600 applications for credit have been turned down every day during the past six months.

20.3m plastic card purchase transactions will be made today with a total value of £1.02bn.

· View more credit stats here

Blog & Twitter

Mike is blogging and twittering, just click on either link to follow

· blog twitter

Top 10 sections on website

1. Budget forms - free
2. Reclaiming bank charges tool
3. Six options to getting out of debt
4. Credit card charges tool
5. Contact
6. Who we are
7. Debt Relief Orders, DROs
8. Letter to PM re bankruptcy fees
9. The Limitation Act (Old debts)
10. Blog dated 15 May 2009