Why the debt charities must escape the 'Spending Review' cuts

We all know that debt help charities have an important role in helping over-indebted consumers resolve their debt issues.

It is estimated that 4 million debt enquiries were generated last year alone with the CAB seeing just under 10,000 new debt cases every working day.

Should we also be thinking about changing the way we live and what are the three Cs for recovery?

More in DebtWizard's blog

OFT warns consumers on mis-leading 'unenforceable debt' claims

The OFT is warning consumers that businesses that claim to be able to use sections 77/78/79 of the Consumer Credit Act 1974 to wipe out their debts are 'misleading them'.

Many thousands of consumers have been taken in by such claims and as a result have lost hundreds and thousands of pounds.

The OFT have issued a new guide for those thinking of using such a scheme, this and the DebtWizard comment can be found here.

DebtWizard Forum

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

Logbook Loan Rip Off!!

House repossession debt

Repairing credit file, do I contact more than one agency?

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

IVA, bankruptcy and debt management expenditure figures

Anyone thinking of proposing either a Debt Management Plan, Individual Voluntary Arrangement (IVA) or even going Bankrupt will find this guide extremely useful

We break each section down of your expenditure, show helpful tips about what lenders/creditors allow for one person, a couple and for each additional child.

Lenders expenditure guidelines

The DebtWizard guide to Individual Voluntary Arrangements, IVAs

Individual Voluntary Arrangements, IVAs, can be a very useful tool when resolving your debt issues, but you really need to know the advantages and disadvantages.

We detail the pros and cons and answers to what happens to your home, your car, interest on the debts how the voting works.

DebtWizard guide to Individual Voluntary Arrangements

Mike's recent blogs

Credit Unions, why they are so much better than banks

As our dissatisfaction with the high street banks reaches boiling point, Mike Thomas introduces Credit Unions as a local, friendly and fair alternative.... It's Friday, the car has broken down, the washing machine has flooding the kitchen and the electric bill has to be paid next week. You need a quick loan to tide you over so where do you go? Your bank is a definite no no as you are maxed on your overdraft - how about a Doorstep lender, PayDay loan or even a Loan Shark? Er, no again! When you are desperate you often do things you later regret: you forget to take in the interest rate being charged and how long the repayment period is - your main goal is to get some cash to get you through. If this is you let me ask you one simple question - have you ever thought of going to a Credit Union? I have to say I cannot find fault with them and this is why. Continue reading

The dangers of lending to family members

You wouldn't lend thousands of pounds to a stranger in the street without putting some security in place - so why would you treat lending to family members any differently, asks Mike Thomas. If you had a spare £40,000 would you give it to a total stranger? Nobody in their right mind would, for a start we don't know anything about the person, we run the risk of losing it all and where do we stand when it all goes wrong? So why do we as parents or even grandparents bestow our offspring with thousands of pounds to help them with the deposit to buy a house? It's normal to think that we will always get our money back, because it's family. But is this correct? Continue reading

Government to review consumer lending and insolvency procedures

The Department for Business, Innovation and Skills (BIS) has launched a consultation on how the existing consumer credit and consumer insolvency regime can be improved.

This call for evidence invites people to have a say on how they feel borrowing for both the consumers and lenders as well as how insolvency procedures can be improved.

More details of the review and how the consumer can participate can be found here.

LloydsTSB leads revolt against FSA's PPI proposals

In what looks like an attempt to delay the processing of claims worth in the region of £2 billion LloydsTSB have announced their intention not to process any more PPI claims.

Barclays reputedly are considering a similar strategy whilst a Judicial Review is considered by the High Court.

Read the article and DebtWizard comment

DebtWizard 6 option guide to controlling your debt

When debt problems arise you have six options available to help you. 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 will affect your credit rating.

DebtWizard six option guide to getting out of debt.

Latest Debt News

The latest debt related news since the last email.

- New consumer debt review

- Debt charities under threat?

- LloydsTSB leads revolt on PPI

- OFT warns of mis-leading websites

- Debt expenditure guidelines

- 6 option guide to debt

- DebtWizard guide to IVAs

- 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 West Midlands - Ed Doolan 1pm Wednesday 27/10/10

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

Featured shows

We have selected some of the most topical radio shows with Mike covering how to go bankrupt, dealing with debt collectors, stopping harassment, plus lots more.

Just look for the 'Featured Shows' section on the home page and click on each title to hear the show.

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

1683 - total postings

165 - total topics

307 - total members

46,577 - 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 or recently 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?