Repaying a loan that wasn't mine-help needed!

unreal00

you mean record the convo? lol sounds so wrong!
Well I might need to if i want to stop paying it!

wayne99

I feel sorry for you i really do, if my family did this to me believe me i would disown the gits.

My first tactic would be to write a strongly worded letter (sent by recorded mail) detailing the "verbal contract" you had with them, and explain that unless repayments are made you will consider legal avenues.

You could take them to court, but it would be hard to prove this was a loan for them without anything being documented, but you can always make the threat, it seems to work for debt collection agency's so why not ?

Ideally you need to get something on paper, or something recorded, but iam not sure if you can record someone without informing them first, if you don't inform them the recording may not be accepted as evidence in court.

With all respect intended to-wards yourself, with you paying this, your brother paying the mortgage and upkeep what the hell are your parents paying ? didly squat by the look of it.

In my opinion your so called parents just seem like con artists, who are more then likely living the life of luxury at the expense of you and your brother.

wake up and smell the coffee, if this is true they have defrauded you of 30k, and don't give to hoots if you are struggling, i would wash my hands with the lot of them, and drag them through the legal system, tell there friends what they have done, and make them feel completely embarrassed about pulling a con on a family member.

I wish you good luck, but the time for being soft on them has passed iam afraid, you need to either go down the court route, or you need to accept that you are never going to get your money back, and write it off.

wyebird

Do you have any extended family who could exert some moral influence on your immediate family?

unreal00

you are right-100%. My friends say the same. Its just so hard with it being family-. If i went to the CAB, would they be able to help me? I'm thinking if they receive a letter to say that I have stopped paying and as guarantor they have to pay the balance, maybe that would work..not sure

ps i feel sorry for me too! but its just gone on long enough, i don't want to lose them as my family but im really struggling too.

unreal00

possibly-but that would make it worse for me becaus emy parents will decide to have a go at me for involving others and telling them our financial situation!

Oldernotwiser

Sorry if I'm barking up the wrong tree but do your family come from an ethnic minority background where attitudes to family can be different from those held by many of us?

unreal00

Yes, Oldernotwiser, your right. We are an asian family. How did you guess? lol

wayne99

perhaps your parents need a wake up call like that, you obviously care very much for your family (rightly so), but you are being taken for a ride.

Sometimes putting people into an embarrassing position gives them they push they need, yes they will be annoyed with you, but never mind at least you will get the repayments (hopefully).

The CAB could help you with a letter i would imagine, but the problem you have is are you prepared to follow the threat through ?

if you stop paying to the point where the guarantor gets involved by that stage your credit files will be trashed for 6 years (late payment markers, Default and possibly a CCJ)

I would go down the route of a letter first, if that doesn't work, look at discussing it with other family members / close friends of the family, and then finally court.

Oldernotwiser

I'm puzzled. Career Development Loans normally pay fees direct to the university, so I really don't understand how this situation could arise.

unreal00

No they don't. Student loans pay fees directly to the universitys, professional loans don't, they go into your bank account.