Need Advice

James240

Ive literally just been imformed by my mum that my dad is in £30-40,000 in debt with credit cards etc, etc (Why she has choosen Christmas eve to tell me this i dont really know, considering this has been going on for ages.....)

My mother and father have been split up for around 4 years but still remain on good terms. She has been round to try and look at what he should do but she is sketchy in the up most about who he has spoken to etc, etc. "Apprently" he has some financial advisors paying everyone for him.....now im a little worried overthis as he isnt the most intelligent person with money and i dont know if he has gone to one of those credit help agency's i.e. the ones who charge over 30% APR.

Were can i direct him to, or at the very least get my mother to direct him as he is considering filling for Bankruptcy but doesnt have the money to....... can any one help with some advice on what he should do next??? i really dont know if the whole amount is on credit cards or over other things.

To make things worse he rents a house of my uncle (my mums brother) and i really dont want this to become an issue within the family, she has already lent him £400.

Can anyone give me advice so i can get my mum to prompt him into action........

jonesMUFCforever

First thing you say they have split but are they divorced?
Secondly I would strongly advise your mum NOT to pay any more money to him for her own good as it seems it is like throwing good money after bad.
Advise him to call CAB or National debtline as soon as they have opened after Christmas.
Is he up to date with rent to your uncle? If not advise him that if he is made bankrupt he would probably lose the house as his uncle would be an unsecured creditor and unlikely to see a penny of outstanding rent.
Without knowing exactly why and to whom he owes money to it is very difficult to give precise advice here.

James240

ejones999 wrote:

First thing you say they have split but are they divorced?
Secondly I would strongly advise your mum NOT to pay any more money to him for her own good as it seems it is like throwing good money after bad.
Advise him to call CAB or National debtline as soon as they have opened after Christmas.
Is he up to date with rent to your uncle? If not advise him that if he is made bankrupt he would probably lose the house as his uncle would be an unsecured creditor and unlikely to see a penny of outstanding rent.
Without knowing exactly why and to whom he owes money to it is very difficult to give precise advice here.

I know all my mother as come out with is that she think s it may be all on credit cards, another things is that my dad has quite bad arthritis (sp?)

as it stands at the moment he is up to date with the rent, from what my mum has said is that he is paying £725 for rent on a three bedroom house, he has seriously got to downsize and move into a studio flat because this will save him more money which is the first thing i have already said to my mother. Its really hard as my mum has just told me this and she then adds at the end of it that he doesnt want me and my brothers to know. ..................just really lost as to what to do....

Dora_the_Explorer_5

If they are still married I think it may be that they are both responsible for the debts. Not such good news for Christmas Eve I'm afraid.

James240

Dora_the_Explorer wrote:

If they are still married I think it may be that they are both responsible for the debts. Not such good news for Christmas Eve I'm afraid.

no sorry should elaborate they are divorced........Dad has racked up these debts all by himself since they have split 4 for 5 years ago.......

Willsnarf1983

Hey Bud!

What a bombshell just before Xmas!, the only thing i wud suggest is get himto do a SOA asap, i appreciate that broaching the subject with ur dad will be difficult but if u can get him to admit to as many debts as poss! Also if u know that hes with a debt management company that are ruippping himof pt him towards one of the free ones!


Will

southernscouser

Hey Jamesy,

Sorry you got dealt this today. Don't mean to pry but do you still see your dad so you can get hold of all the information required?

If so post it all on here. Have a look at this thread as a template.

I would advise him to get in touch with Payplan or the CCCS. Contatc details are in the link above. They don't charge anything for their services.

Good luck

SS