Help - what do I do?

Filly · 30 January 2008 at 5:31PM

One of my sisters has been targeted by a fraudster, who with intimidation and the eventual threat of physical violence has managed to land her in debt to the tune of £32,000. She is very young (20), earns peanuts (roughly £12K per annum) and to be honest is not a very smart girl, which is why I believe she was targeted.

To begin with this chap started dating her and once he managed to convince her that the relationship was 'real' (although he gave her a false name) took her to a car supermarket in North London to look at cars last August. Once there, he spotted a car he liked for £10995 and then asked her if she wouldn't mind putting it in her name for a few months before transferring it to him. Bearing in mind that she cannot drive, the salesman could not get a specific car loan, but he did somehow manage to get her a personal loan with Barclays, even though her bank statement clearly stated that her take home pay was £600 a month. The repayments are £363 per month - more than half her take home pay!

A month later he threatened her with a knife to take out a further loan for £7600 with HSBC, which she then withdrew as cash and gave to him. He has also been using her debit card details to make a number of purchases with paypal from her salary, to the tune of another £1000.

We've only found out as she started stealing from family members to keep up the repayments on the loans. The debit card has been cancelled and I'm booked in to see someone at the CAB on Friday to discuss her options. Quite simply she cannot afford these loans. Her one asset - the car - has been returned damaged (acid has been poured over it, seats slashed etc) and the police have only circumstantial evidence at best and cannot charge him with anything.

The situation is a nightmare and I just wonder if anyone here can offer me any advice on how to begin helping her through this as she is just not capable of dealing with this - at the moment I'm seriously considering declaring her bankrupt. She has no assets, earns a pittance and lives at home with her mother. Could the banks come after her mother's/other family members assets (obviously we don't want them to lose the house that belongs to her mother)? Can I sue the car showroom/banks for negligence? I am still stunned that with no credit history and earning so little she managed to get two loans int he space of two months that with interest and payment protection will amount to £32K over the next 5-6 years.

locutus2003 · 30 January 2008 at 5:35PM

Goodness me, that's terrible.

I feel so dreadfully sorry for her. Unfortunately I have no practical help for you - although CAB seems the right place to go. Luckily there are some very knowledgeable people on here and no doubt they'll be full of advice for you.

What a wonderful sister she has in you though - I do hope that some people have some good advice for you soon.

xx

gollygosh · 30 January 2008 at 5:40PM

Hang on in there the clever folk will be along shortly, they'll know what to do.

Poppycat · 30 January 2008 at 5:46PM

I cant give any advice other than I would also go to the Police but this is the right place and you will get some good advice here, best of luck your a good sister

Filly · 30 January 2008 at 5:48PM

Thanks guys. The first thing I did when I found out was drag her to her local police station and she has since made a formal statement. It just makes it worse that this guy could actually get away with this while my sister will suffer the consequences for years.

mummum2 · 30 January 2008 at 5:50PM

Oh my goodness, your poor sister. I don't have any advice, but just wanted to send hugs. She's lucky to have a sister like you. Hope you get it sorted with the help of CAB.

Her ex needs to be 'shot' b%%%%t.......

theunknownstuntman · 30 January 2008 at 5:51PM

Regarding the police thing, it is very difficult to prosecute on circumstantial evidence, and with the loans etc, if they're in her name and she's signed on the dotted line.... again its very difficult to prove the coersion. Please dont think I'm disbelieving as I'm not, I'm aangry that folk like this get away with this.
The clever folk will be along shortly, but maybe one of the free debt charities will be better than bancrupcy? I'll leave that to the clever peeps and just offer my support.

I take it the free loading gimp is no longer in the picture?

dancingfairy · 30 January 2008 at 5:54PM

Gosh, that's terrible. I hope your sister is well away from him now. Is there anything you can do to prove anything? I don't really have any advice but bigs hugs to both of you and she's lucky to have a brother and mother to support her at this terrible time. I hope someone on here has some advice but I would try CAB and possibly a domestic abuse helpline in case they can help.

Good luck

Filly · 30 January 2008 at 5:55PM

He isn't now - there isn't any more money to take from her so he's scarpered.

theunknownstuntman · 30 January 2008 at 5:58PM

There are names for folk like him, but I won't use them on here as there are women present. Thats one good thing. Let me have a chat with my boss and see if you have any options ref: the police. Everything else I'll leave to the experts on here..... Stay on here, there are some really clever folk who'll help you

RAS · 30 January 2008 at 5:58PM

Hi

She needs to see a solictor. many will do a free half hour. That will help sort out her status re these loans, as well as CAB. make sure she see a CAb finaical advisor re the debt rahter then just a normal advisor, or contact one of the other free debt charities. http://www.moneysavingexpert.com/loans/debt-help-plan#help

You could try getting CAB to negiotiate with the creditors but even if they wrote off the debt, I am not sure what it would do for her credit status.

If she is that malleable, it might actually be better if she was unable to get any more credit.

I think she should certainly think about going BK, but she has to make that decsion herself. Get her to post up herself on the BK sub-forum. They are lovely folk and will help her if she decide that is the right route for her. It will affect her long term but after three years, she should be able to get a mortgage etc. Credit cards and unsecured loans will be another matter.

For her sake allow her time to make the decision that is right for her and to handle as much as she can, whilst being in the background if she wants support. her self estime must be really low right now and being able to take action herself will make things better for you all in the long run.

Help - what do I do?

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