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Mike & Clive in the LBC studio

Below is the free podcast from Mike's appearance on LBC's Money Hour on Sunday, 25 June 2017 with Clive Bull. It's free to listen to.

On this show, Mike talks to Clive about the latest news affecting consumers with debt issues, takes calls, texts and emails from listeners around the country. Below is a list of the topics and timeline of the audio to make it easier to access certain parts of the show. Just click on the podcast below to start listening.

Topics

Read more: Free Podcast now available - LBC Money Hour with Clive Bull - Sunday 8-9pm, 25 June 2017

 

Mike was talking to Roberto Perrone about the FCA proposals on new rules for credit card firms, aimed at helping millions of customers get out of persistent debt. Mike explains the meaning of 'persistent debt' and gives an example of how much you pay back if you borrow £3,000 on a credit card and make just the minimum repayments. Roberto then asks Mike what people can do if they have debt problems.

Read more: BBC Three Counties Radio - Roberto Perrone 3/4/17 5.24pm

 

Mike was talking to Dave Monk about the Financial Conduct Authority (FCA) proposals on new rules for credit card firms to help millions of customers get out of persistent debt. He explains the definition of persistent debt and the time period before credit card companies are expected to freeze interest and charges. Mike then comments on what he would like to see change which he feels the FCA is not addressing.

Read more: BBC Essex Drivetime with Dave Monk 3/4/17 4.05pm

 

Mike & Clive in the LBC studio

Below is the free podcast from Mike's appearance on LBC's Money Hour on Sunday, 12 February 2017 with Clive Bull. It's free to listen to.

On this show, Mike talks to Clive about the latest news affecting consumers with debt issues, takes calls, texts and emails from listeners around the country. Below is a list of the topics and timeline of the audio to make it easier to access certain parts of the show. Just click below to start listening.

Topics

Read more: Free podcast now available - LBC Money Hour with Clive Bull - Sunday 8-9pm, 12 February 2017

 

The number of people who became insolvent in England and Wales in 2016 was 90,930, a 13.1% rise on 2015 but still lower than the figure each year from 2006 to 2014 reports The Insolvency Service.

The falling bankruptcy numbers

There were a total 14,989 consumer bankruptcy orders in 2016, compared to 15,797 the year before. This is the lowest numbers since 1990 when there were just 13,987. Whilst some debt advisors believe the high cost to the consumer in England and Wales to go bankrupt is a major factor the introduction of debt relief orders (DROs) in 2009 is likely to have affected the numbers as well as the recent change in the amount the debtor must owe before a creditor can petition as this has now risen from £750 to £5,000.

Note in the table below the numbers going bankrupt in 2009 compared to 2010 - 2016.

The cost to go bankrupt England v Scotland

Read more: Consumer bankruptcy numbers fall to lowest level since 1990 but IVAs increase

 

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