I was given a Credit Card at 16 years old....

Blacksheep1979

strugglingbigtime wrote: »

@V.Lucky - good point... however is it not the responsibilty of the bank to ensure that I am eligible to apply for credit? is this not irresponsible of them?

should they of checked my age? - YES
could they of checked my age? - YES
did they check my age? - NO

Did you spend the money - YES
Should you pay it back - YES

You're an adult now (supposedly) - take responsibility for your actions like one.

ElkyElky

I'd love to know what the parents said about getting into debt at 16. Since they are legally responsible for you until you're 18, they should have made an effort to pay it back.

Mips

strugglingbigtime wrote: »

Hi all,

I'm new to the forum, however have been using MSE for a couple of years now, getting tips and advice from existing forums. I cant however find an answer to this question.. apologies if it has already been asked:

I was given a credit card from the bank when I was 16, I am now 23 and have been struggling to pay off these debts for a few years now (I have 2 in total that were given to me at age 16 and 17).

My question: Can the bank enforce these debts? As I was under 18 at the time of 'signing' my credit agreement, does this make it void?? How would I approach the banks with this?

I know it might seem silly, as I am now 23 and should be responsible for my debts, it's just that over the 6 or so years all I have been doing is paying off the interest and getting nowhere! Ive already had to move city just to be able to get a job, and STILL cant get on top of my debts.

Your assistance is greatly appreciated!

The fact you even wrote this thread suggests you aren't responsible for your debts.

I got into debt aged 18 - I couldn't care less then if I missed payments, overspent on credit cards.. I couldn't wait to get all this free cash!

6 years on, my credit rating was shot to pieces and I wasn't so smug

I am 26 now and I pay all my bills on time, mostly live without credit and monitor my credit file closely - I have a contract phone and a credit card, which I pay off sensibly and the only reason I am even WANTING a good credit file is because I will be credit checked for a job I will be doing soon.



So, at the age of 23, you still don't sound very wise to me - this is a lesson that you are going to have to learn. And it wont do you any harm

Robert_Sterling

strugglingbigtime wrote: »

Hi all,

Your assistance is greatly appreciated!

I would not wish to assist anyone who obtained money by false pretences.

DarkConvict

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