What Will Happen?

leighannwatson

Sorry if there is not much info here me and my other half are trying to find out more.

My FIL has had a loan with the HSBC for a few years now, the original was paid off with another loan via the HSBC and they got a little extra on the new loan (if that makes sense) HSBC called him in because FIL was constantly overdrawn, loan not being paid etc. HSBC offered him a new loan a few years back to pay off debts etc.

In the meantime they were give a gift of 10k which they !!!!!! up against a wall, nothing to show for it etc. My other half suggested they pay any loans, debts etc that they had (fell on deaf ears and are now totally skint.) FIL works, MIL is a pensioner and due to ill health is unable to work anymore.

In the past month or so FIL has been getting letters and phone calls from the bank to go in and see them as he seems to be falling more into debt with the bank i.e overdrawn and problems with the loan. It has got so bad that the bank have now come knocking on the door to see him and MIL has been making excuses that he's not about etc as they don't seem to want to deal with the debt.

The loan is in his name and the bank account is a joint account. My other half used to help them out when he lived at home many years ago, infact their wages used to go into his account because they had problems with another bank where they went overdrawn (only £250) but they got banned from that bank and it took them 10 years to pay it back.

MIL hasn't a clue what FIL owes to the bank either with the loan or how much he is overdrawn as he has the cash card and controls the money, she pays her door loan man and bills out of her pension and disability money. FIL won't tell MIL about the debts and its making her ill.

My other half suggested that he go to the bank with his mum to see if they will tell her how much FIL owes but is unsure if they will tell them. We are unable to help out in any way with money as we have a mortgage to pay and my other half said he is sick of the way they handle money and get into debt as he's had it all his life, debt men knocking on door and hiding from them when he was little etc.

Can anyone give me any advice on what the bank will do if MIL & FIL don't take any action? They live in council accommodation and don't own much in possessions.

Thanks
Leighann

CLAPTON

the bank won't discuss FIL affairs with anyone without his permission unless the loan is in joint names.

if MIL pension goes into a joint HSBC a/c then advice her to move it to another bank as they may raid it.

if they don't own a house and have no valuable possessions there is in fact not a lot the bank can do.

they could apply to the court and get a CCJ and an order to repay or even an attactment of earnings.

Baliffs can be instructed (after a court order) but it depends upon what possessions they have .

leighannwatson

Thanks Clapton, we guessed they wouldn't discuss the loan unless it was in joint names.

MIL gets her pension paid at the post office, same as her disability benefit . TBH they have nothing in way of posession's apart from the car which they purchased for 1k. All electical items/gas are all second hand and in need of repair. It's the FIL that seems to be intent on spending money, thinks nothing of spending £30-£40 on a night out even though they haven't got the money, MIL doesn't get a say in anything, from what I can tell this is how the have always been.

Oh well just have to see what happens.