Daughters Debt

Idiophreak

Jaisafootballer wrote:

with so many students declaring themselves bankrupt and discarding their debt she seems to think that if they can do it so can she.

I don't understand this though. Just because she *could* do this, why does she think it's acceptable that she *should* do it? How do people come to have the attitude that it's acceptable to rip people off? Deliberately not paying back your debt is straight-up theft as far as I'm concerned.

I thought I could clear my student debt (>25k) by robbing a bank. Then I decided I probably shouldn't...

Jaisafootballer

I'm looking for help you fool not abuse!!!

iceicebaby

Come on people lets play nicely!

We are not here to judge

dealornodeal_3

Jaisafootballer is in my opinion struggling to sort out a mess with her offspring. Its not easy after the daughters friends have that attitude. Offsprings try to sound so grown up, and whatever parents say to them; the parents are always wrong!

Sometimes in these matters a little more help and understanding is all that is needed IMHO. Sorry but thats how I feel having gone through it!

AMILLIONDOLLARS

Debt Free Wannabe Threads, this is a suport section where everyone encourages/helps those who want to get out of debt, a very useful part of this site, and they are great people there wanting to offer help and advice.

AMD

Idiophreak

Jaisafootballer wrote:

I'm looking for help you fool not abuse!!!

Sorry, no abuse intended, and certainly not toward you.

I just feel for you being put in this position by your daughter having such a selfish mindset.

If you can't make her see sense I'd try and distance myself from her as much as possible and attempt to minimalise the damage to the household's credit rating.

Xbigman

Debts are statute barred after 6 years if there is no contact. Credit record entries are also kept for 6 years from date of placement on the record (which might not be for a year or more yet). Also, going abroad and doing a runner with no provable record of address, electoral roll, etc, will severely curtail any chance she has of credit even after the 6 years is up. It can be done but it is not quite as easy or penalty free as people think. There are debt collectors who will happily buy up debts that are 15 or more years old and pursue people for them.
And what will she live on for the next three years?

As a graduate she is early 20's now I presume? So by the time she recovers her credit rating she will be early 30's, then add 25 years to pay off a mortgage and she's late 50's. Having run up credit cards once she is likely to do it again because she will think it is too easy.

There you have her financial life laid out before you.
Regards



X

RocketMan

Hello Jaisafootballer,

I've been a student for 6 years now, and I know how much credit card problems can cause. As a graduate her student account should have been converted to a graduate account, one of my friends paid off her credit cards with a graduate loan, below is the link for NatWest who my friend was with. Although this is only a temporary measure, but should ease the burden.

http://www.natwest.com/personal02a.asp?id=PERSONAL/BORROW/LOANS/GRADUATE_LOAN

Going travelling would incur a lot of money, I hope your daughter gets her debts in order before she does it. If you can persuade your daughter to talk to the local Citizens Advice Bureau it should help, another friend found them to be very helpful.

http://www.citizensadvice.org.uk/

I wish you the best of luck with getting your daughter to face her problems.

rjm2k1

Dare I ask what degree she did?

iceicebaby

Not accounting or economics I hope lol