Reinstate loan payments

theshorties

Hello,
was wondering if anyone can help me ? My mother in law 'trusted' my wifes sister to keep her bank card etc and ensure her finances were in order as she felt she could no longer do so?? anyway in turn the daughter took all the money out of her account every payday each month(once a month last working day) turns out my mother-in-law has a loan with lloydstsb....the daughter was using all bar £100 per month given to my mother in law for spending pennies??..to pay for her wedding and in turn defaulted the loan, she even managed to persuade her to get the money paid into HER bank account via her works.. course telling her all along she was putting the loan money amount into her lloydstsb account for loan payments... anyway, wedding over now and letters have turned up with bank not having been paid since march!!! she took the lot!! i have now been asked kindly to try and sort this mess up and 'reinstate' the loan payments etc... bonus_pale_ she also drew up an overdraft on her account of 600 pounds.....:doh: she has 5 yrs left at work and i wondered if anyone can help/advise me if it would be possible to getthis reinstated to original terms and get this back on track on her behalf?? please if you know of any other similar things or if i can help/sort this out? i am bit lost at moment... help!?? please??:(
yours truly James.

chalkie99

Who took out the loan?

Mother in Law or the sister?

If the sister has taken a loan on her mothers account then that sounds like fraud and needs reporting to the Police. Depends if anyone has the will to do that and follow it through. If you are intending to try and "reinstate payments" on a fraudulent loan then you are making yourself an accessory to a criminal act.

theshorties

no my mother in law took out the loan. but as my sister in law was supposed to be putting the amount to pay in each month and did not......
so as i say i need to sort this mess out an dget her bac on track..

CH27

Make an appointment to take you MIL to the bank. Explian what has happened.
Arrange for new cards, cheque book to be issued. Ensure your SIL can get no further access to any financial accounts.
Work out a way with the bank to move forward.

theshorties

ok many thanks will give that a try 2morro.
James