Insolvency Service stops on-line filing of bankruptcy petitions

For those going bankrupt, filling the forms on-line through The Insolvency Service website has proved to be a useful way of preparing the necessary paperwork.

However as from the 3^rd September 2010 the Online Forms Service, which allows for the electronic completion of bankruptcy petitions and statements of affairs, will be phased out and shut down completely at 5pm on .........

You can read more on this here.

Their mistake, your headache! How to deal with those tax letters, plus 5 template letters

Are you one of the unlucky ones that have received a letter stating you owe tax? If so what do you do?

We explain your options on repayment and how you may be able to get some of the tax written off by using one of several template letters.

Oh, don't forget the scam emails as well, don't open them!

Scam emails, Q & A's and a template letters.

DebtWizard Forum

Just some of the issues we are helping with and resolving on the forum;

Logbook Loans Problems

Statute Barred Debt sold on for second time

My partner is not well, how do I make full & final payments?

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 to offer support to those in debt. All will be welcome. Visit forum

It's not a crime to be in debt! - Fight back if you are being harassed  

Do you know your rights when being harassed by a lender or debt collection agency?

We can help you stop being plagued by lenders and debt collection agencies in our unique template letters.

Harassment Letter 1 'Disputed debt, a debt you do not owe'.

Harassment Letter 2 'Stop harassment from debt collection agencies, in whatever form'.

Interest-free periods on the rise for credit card holders

With whispers of a double-dip recession becoming increasingly audible, the last thing you would expect from the country’s credit card providers is even more attractive free credit.

While on the surface the move might appear to be ‘consumer-friendly’, experts have accused credit card providers of encouraging the onset of a fresh reliance on credit.

Are they right? Read more.

Mike's recent blogs

Friends, debt... and how to make sure your help is effective

Seeing a friend in financial strife is difficult and can often prompt people into handing over their own money in order to help them. Just be wary before you part with your cash.....Jack and Polly had been living together for about a year but something was not quite right. Every time they went out for a meal or had to buy something for their new home, Jack would make excuses as to why he could not contribute towards the cost. One day it all came out; Jack had a credit card debt of £1,800 and was under pressure to pay the entire balance. Polly, smitten with love, stepped in, took out a credit card in her name and used her limit to pay off Jack's debt. Problem solved, she thought. But was Polly right to do this?..... Continue reading

The important do's and don'ts when dealing with debt

Taking the decision to deal with your debt is an important first step, but make sure you follow these tips to avoid any unnecessary hardship. If you’ve had enough of debts controlling your life and never having any money left a week after payday, then you might feel it’s time to sort your debt problems out. According to one consumer group around 1,000 people are seeking some form of formal debt rescheduling every working day. Some of these people wish to negotiate directly with the lenders themselves and bypass a debt management company, but dealing with lenders in this way can be a very stressful and emotional time..... To help you through this I’ve put together some simple tips on what to do ... Continue reading

Repossessed borrowers - sign a 'Deed of Acknowledgement' at your peril

A Deed of Acknowledge is a particularly sinister form involved in home repossession which if signed may leave you legally responsible for any shortfall after the sale. .... Mark, a police officer, is about to have his home repossessed by his mortgage lender. Sold at auction, it is expected to fetch around £44,000 less than Mark's outstanding mortgage. Combined with his credit card and personal loan debts, which total around £46,000, this will take Mark's final debt to at least £90,000. As the debt is so high there is only one solution – bankruptcy. Most people think that once they go bankrupt, that's it and all the debts – including the shortfall on the previously mortgaged home – get wiped clean. But do they? Continue reading

Ever heard of a log book loan?

A 'Log Book' Loan is a loan secured against your vehicle, (a car or a motorbike).

You will lose your vehicle if you default on the repayments to the loan company.

The APR (interest rate) can be around 437%. We cover the qualifying criteria as well as advantages and disadvantages at;

Debtwizard guide to log book loans.

Energy suppliers in mis-selling probe

Ofgem has launched an investigation into the sale of energy by four major suppliers.

There are three simple things you can do to prevent being mis-sold.

If you need to complain and don't know where to start then we have produced a simple to use three step guide to help you!

Go to article

Free Budget Wizard

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

UK striking debt numbers

Total credit card debt in July 2010 was £58.4bn.

£38.06m a day was written off by UK banks and Building Societies over the past 12 months.

1,000 people are seeking some form of formal debt rescheduling every working day. Read more stats.

Latest Debt News

The latest debt related news since the last email.

- Tax error Q&As + template letters

- Filing on-line bankruptcy stops

- It's not a crime to be in debt!

- Interest free credit cards

- UK striking debt numbers

- Energy suppliers mis-selling probe

- Heard of a log book loan?

- DebtWizard Forum

- 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

Mike Thomas will be live taking your calls, texts and emails on any debt questions on the following shows.

Just click on the links below to find out how to listen or contact the show.

BBC Shropshire - Keith Middleton's Extravaganza 10pm Sun 19/9/10

BBC West Midlands - Ed Doolan 1pm Wednesday 20/10/10

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.

More - DebtWizard media page

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. The Limitation Act (Old debts)
5. How to end harassment
6. Contact
7. Six options to get out of debt
8. Debt solution comparison table
9. Who we are
10. Why sign up

Debt forum's stats

. 1291 - total postings

. 126 - total topics

. 242 - total members

. 36,251 - global views

Visit DebtWizard forum

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?