Any ideas about bank phone call to my mum?

LJD1_2

Hiya
I wonder if anyone could help me. My mum is in a huge amount of debt but is totally burying her head in the sand and will do nothing about it. She feels that paying the minimum amount each month is fine despite what i've told her.

Anyway, two weeks ago the bank phoned her and left a message on the answer machine to say they needed a chat because she was paying too much. She finally called them today and they do want a chat with her. I don't believe they'd call her to save her money but is that just my cynical self coming through. She has a massive overdraft and a massive loan with them (plus tonnes of credit card debt too). Do you think i'm right assuming they just want to sell her something else that will cost less in the short run but more in the long run? She's in her 70s.

Thanks

southernscouser

My reckoning is they are trying to sell her a loan over a longer period with lower payments but more interest. :think:

They will make out they are doing your mum a favour by lowering the monthly payments! :mad:

LJD1_2

Yip that's what I reckon, it'll be the third time she's done that but there's no telling someone who just doesn't want to hear. Bloody banks and bloody mothers! Only kidding - love her dearly!

rog2

Get her to take advice from CAB before going in for a 'chat'. Also tell her Not to sign any loan agreement without showing it to you first.

southernscouser

LJD1 wrote:

Yip that's what I reckon, it'll be the third time she's done that but there's no telling someone who just doesn't want to hear. Bloody banks and bloody mothers! Only kidding - love her dearly!

Could you not scare her into her lighbulb moment! Have you snowballed her debts at all? Perhaps saying mum, at this rate you are going to be paying them off for another 20 years or whatever!

LJD1_2

Rog2 - i've tried to make her go to the CAB, i've made her an appointment, I've offered to go with her, i've offered to tell them it's my debt but she's coming to give me moral support. She refuses point blank.

Southernscouser - believe me i've tried, at this point she'll be about 113 before it's all paid off. Selfishly it panics me because one day my dad will find out and he'll go, understandably, balistic. It also upsets me that she must be thinking of this every waking hour. She's told me if I tell my dad she'll never speak to me again and I believe her. If there was a way I could tell him without anyone knowing it was me who told him I would. She owes tens of thousands and he's got the money to pay it off. They live together but that's as far as it goes, they don't share money or anything else.

Sorry to waffle on but I totally dispair.

furndire

try for help and advice on https://www.consumeractiongroup.co.uk