What does the new coalition government plan for consumers?

Following the OFT's defeat in attempting to regulate bank charges last year, the new government intends to end unfair bank and other financial charges.

They also aim to ban excessive interest rates on credit and store cards, give home owners more protection against aggressive bailiffs and more...

Mike has his views as to what he would like Mr Clegg and Cameron to do to help hard up consumers. More on this here.

Injunction served on 'debt sale firm' to protect consumers

Birmingham Trading Standards has successfully obtained an interim Enforcement Order against 'debt sale' company Momentum Network Ltd trading as Credit Card Killer.

It has been estimated that customers of Momentum have paid over £1 million in upfront fees for a 'service' which the OFT believes to be a scam. More here

Bank charges, new challenge due in court 11th June 2010

In February this year Jennifer Sharp won the right to revive her case about unfair and excessive charges against the Bank of Scotland.

The case is going for full trial in the Glasgow Sherriff court on 11th June 2010.

We explain why this argument was not available to the OFT. Read more

DebtWizard Forum

Some of the issues we are helping with and resolving;

Quick help - need a bank account

Bankruptcy saved my life and my home

Creditors won't stop interest

Simple to join, just sign up or log in to debtwizard.com then go to forum and select your nickname. That's it, you are then able to post. We help anyone in England, Ireland, Scotland, Wales and UK residents overseas (ex pats).

You don't have to be in debt to post, you may have an experience that you wish to share or just wish offer support to those in debt. All will be welcome. Visit forum

Falling house repossession figures not painting the real picture

Mortgage lenders took 9,800 properties into possession in the first quarter of 2010; this is 7.5% lower than in the final quarter of 2009. Read article

Will repossessions continue to fall? Mike is not so sure and warns that we should not be too excited, as other factors could still spoil the party.

Click here to read more on this

Restrictions on the sale of PPI look likely

The Competition Commission plans to prohibit the selling of payment protection insurance (PPI) at the same time that loans are being issued.

Do you feel you have been mis-sold PPI and don't know where to start?

If this is the case then we have our very own easy to read questions and answers plus template letters to help you. More

Mike's recent blogs

Insolvency figures only scratching the surface...

Figures just released from the Insolvency Service reveal that 35,682 consumers were declared insolvent in the first three months of 2010. Are these figures masking the true amount of unmanageable debt as record numbers of consumers battle through an over-indulgence of consumer debt coupled with high unemployment? Continue reading

Will my parents find out about my debt arrangements?

Debtors often worry about family members discovering their debt difficulties. In this blog I look at the problem and offer some advice on keeping things confidential. It has to be anyone with money worries worst nightmare. So what can they do to keep it quiet, and more to the point, should they keep it quiet? Continue reading

Falling repossession figures not painting the real picture

As house repossession numbers start falling we should not be too excited, as other factors could still spoil the party, such as exceptionally low interest rates keeping mortgage payments down and redundancy payments or credit cards being used to meet mortgage commitments. Now let's look at the CML and the data it's not recording... Continue reading

Free Budget Wizard to all members of the website

If your finances are out of control then this unique budget form will quickly establish your position and predict how much your debt will increase over the next 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

OFT starts new awareness campaign to combat 'loan sharks'

With around 200,000 people at risk from 'loan sharks' the Office of Fair Trading (OFT) is to take part in a campaign to warn consumers of the dangers of borrowing from such a person.

DebtWizard also comments on why consumers need to use 'loan sharks'.

More here

Moneywise subscription special offer.
Only £1 for 3 issues!

Moneywise is the UK's leading personal finance magazine.

They deal with the key financial issues affecting you including: cutting down on your everyday bills; planning for retirement; investing or saving a lump sum; paying for your children's education; taking out private health insurance; or getting the best mortgage deal.

Find out more about this special offer.

Latest Debt News

The latest debt related news since bank charges latest news, debt sale firm, the last email.

- Bank charges new challenge

- 'Debt sale' firm shut down

- New fight with 'Loans Sharks'

- Moneywise special offer

- DebtWizard Forum

- New Gov outlines plans for consumers

- PPI to be restricted

- Have house repossessions peaked?-

- Free budget wizard

- Mike's blogs

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.

Confirmed shows

BBC Shropshire 'Extravaganza'

10.00pm Sunday 25th July 2010

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.

Last few shows:

BBC Essex - Dave Monk 26/5/10

Aggressive bailiffs and bank charges are the topics.

BBC Essex - Steve Scruton 15/5/10

Mike takes calls and texts on debt live in the studio.

LBC with Jeni Barnett 10/5/2010

Commenting on the numbers of consumers going bankrupt.

BRMB Radio - The Sanctuary 9/5/10

Mike takes call and texts from listeners with debt problems.

BBC Shropshire 9/5/10

Mike takes calls, texts and emails offering advice on how to manage those debt issues.

More - DebtWizard media page

UK Debt statistics issued Apr 10

Britain's interest repayments on personal debt were £68.4bn in the last 12months

Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,658 per average UK adult at the end of February 2010.

- View more credit stats here

Blog & Twitter

Mike is blogging and twittering, just click on either link

-  blog

-  follow Mike on twitter

Top 5 sections on website

1. Bank charges latest updates

2. Budget wizard - free

3. Unenforceable credit agreements

4. The Limitation Act (Old debts)

5. Six options to getting out of debt

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?