Power Of Attorney

kelevra_2

Hi all,

May be a complicated one, may not be...

My mum is a real pain in the !!!, she wants me to sort out her finances, debts and things, it isn't nothing major and can easily be achieved, but just before xmas she got a personal loan from a door step lender (provident) without telling me, hence making my task that little bit harder than it already was...
So my question to all you people is, If i have power of attorney over my mum will that prevent her from being able to agree to any loans and the likes in future??

Also while we're on the matter of doorstep lenders, we all know they don't do credit checks, but they are asking for £40 pcm from my mum but she can't afford it, where do we stand cos we obviously don't want to pay like £5 a month and have all the interest on top.

Thanks for your help in advance.

DVardysShadow

Don't know whether PoA actually gives you that power. But if she wants you to sort it out, she has to bring her money needs to you and not go behind your back.

niccatw

I'm not sure what powers a PoA gives you but I would think that, in order for you to be able to stop you mum taking out further loans, you might need to take out financial guardianship and, I think, you could only do that if your mum did not have the capacity (for example due to mental health or cognitive difficulties) to make those decisions herself.

DarkConvict

Provident are !!!!!!s, they charge high rates of interest, and also own Vanquis Bank.

I have no idea, but i found these links you might find interesting

How to grant control of your finances - lasting power of attorney

There's an easy way to avoid the Court of Protection, and that's to grant someone you trust lasting power of attorney, giving them the right to look after specific aspects of your financial affairs or health and welfare after you lose the capacity to do so.

You can get copies of the forms needed to complete either a Property and Affairs Lasting Power of Attorney covering money matters, or a Personal Welfare LPA covering medical matters, from the Office of the Public Guardian.

You can chose to appoint anyone you trust as long as they are over 18 and not bankrupt.
You need to fill in the forms and get it signed by all relevant parties (yourself, an independent third party called a certificate provider who verifies your capacity, and the person you're appointing power of attorney)

In addition you should list one or more people who you want notified of the application, if you list no one an additional certificate of capacity must be provided.
Registration costs £120 per form. Certain people, including those on means tested benefits and those earning less than a certain amount per year may be entitled to fee remissions, details of which can be found on the site of the Office of the Public Guardian.

The Lasting Power of Attorney must be registered before it can be used. This means that if you want to you can save it until a time when it's needed. However the advice is to get it registered as soon as you can firstly to avoid the long registration waiting period in emergencies, and secondly because if you've made mistakes and it's declared void it will be too late.

Prior to 2007 it was possible to make Enduring Power of Attorney. This was a simpler document but didn't include some of the important safeguards against fraud built into Lasting Power of Attorney. It is no longer possible to make an EPA but they are still valid if they were made prior to 2007.

http://www.bbc.co.uk/blogs/theoneshow/2010/01/power-of-attorney-top-tips.shtml

Also, the place to apply for it - http://www.publicguardian.gov.uk/