Loans for over 70's

[Deleted User] · 16 September 2010 at 5:15PM

millwall36 wrote: »

She would be taking the loan out for her brother who has debt problems and bad credit but will be making the repayments direct to her until his credit rating goes back up

then advise her that she shouldnt do it under any circumstances
the fact that he has a bad credit rating makes it unlikely that he will repay a relative for doing this for him,there are dozens of examples on this forum alone.

CLAPTON · 16 September 2010 at 5:18PM

millwall36 wrote: »

Thanks for that AMD, was going to get some paparwork drawn up for her with a solicitor.

Still have no idea what lender to go to though, can you help?

what good is a legal agreement if he doesn't have the money to repay her?

barbiedoll · 16 September 2010 at 5:29PM

If he can afford to pay her, he can afford to pay his own debts! Do not let her get a loan to pay his debts, she will be lumbered with the repayments, if he has debt problems and bad credit then that's his problem. He can get plenty of help and advice for his situation, do your mum a favour and tell her that she won't get a loan at her age anyway.

Loans for over 70's

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free