Parents in debt!!!

arsenalbarnie

Hi Pinksocks, hope it's all going ok.:)

AMILLIONDOLLARS

I hope you have ripped the loan agreement to pieces so that she can't sign it. I've got a funny feeling about it just being there:eek:

AMD

Pinksocks_2

Hi, bad news my Mum is signing the loan tomorrow. I cannot change her mind, I feel quite ill with the stress. Now I understand how folks get ill worrying about money.

What can I do? she's made her mind up.

The only hope is that the PPI is successful and can be paid to the loan. She is committed to cutting costs and will never get a credit card again.

Anyway I feel deflated and beaten tonight. Thanks for all the goodwishes, but I will keep popping back with any news and how we are getting out of this mess. x

rubywhatashmoo

Doubling her debt isn't cutting costs - you can't solve people's problems for them though, you've tried so hard and she's obviously not willing to accept your help

sparklysaver

Hi Pinksocks

am suffering a wee spot of insomnia and having a browse through the forums; read your thread and just feel sick for you so didn't want to read and run.

I just wanted to say that, although your mum's taken what everyone else including you can see is the wrong decision and you must feel so disheartened right now, all the other hard work you've already done is still valid. You can still go through PPI claims, utility supplier swaps, budgeting with your mum for food, etc. I know you probably don't even want to think about the bl**dy loan, and I don't blame you, but if she's going to sign it despite your best efforts can you talk to her about economising and paying it off sooner to save some interest - is that a discussion you think she'd be willing to have, if you back off from trying to convince her to not take the thing in the first place?

And you wouldn't have found out about the alcohol if this hadn't come to light and now you're in a position to at least try and help your dad to do something about it.

But honestly, I think you should try take a few days off from it. There's nothing now that won't wait a few days. They've made a decision, it's the wrong one and you know it and you must be gutted, but it's done. For your own sake it sounds like you need to take a breather and go back to all the other things on your list when you've had a chance to look after yourself for a bit and are in a better frame of mind to deal with the frustration.

Hope things get better for you all.

AMILLIONDOLLARS

Any chance you could get her to read this post? I would put in a complaint with the bank regarding irresponsible lending to an elderly couple in difficulties, what about contacting Age Concern? There must be a cooling off period for you to try something more.

What about contact BBC watchdog, bad publicity would do them now favours

AMD

arsenalbarnie

Oh really feel for you after all the stress, but try not to fall out with her over it, I know you must be feeling angry. I hope you still have her credit cards! I think it's a case of what has already been mentioned, helping with the ppi and paying that off the loan, helping her with her budgeting etc. And hopefully getting your dad sorted out.

My parents still like spending money, but I now am monitoring it and they ask me if they can afford it. Small steps.

nancmat

Hi Pinksocks have just been reading and feel sick for you.. why don't parents listen. I had a similar thing with my nan she was talked into and paid £700 towards a 7k conservatory roof she didnt need, luckily I got an honest builder round to explain there was no problem with the current one, and I made her cancel the agreement there and then and e-mailed it off myself to the company. Is there a cooling off period with the loan?

Pinksocks_2

Hi thanks for the replies and words of support.

Well the loan is signed. I am now hoping we'll get some PPI back. Sent off the letters so just waiting for the paperwork detailing the amounts to claim for.

AMD I wish I could put in a complaint but my Mum wouldn't agree.

Sparklysaver yes this is stressful I am worried how they'll cope because I don't have the money to bail them out, so I feel a bit helpless.

arsenalbarnie I feel I've gained another two children to keep an eye on.

nancmat your poor Nan I bet she's glad she's got you, there are so many cretins out there trying to rip people off.

Going food shopping today so that's another thing to help her with.

Will let you all know how much a claim we'll have as soon as I know.

Take care everyone x

AMILLIONDOLLARS

Pinksock

Didn't she see BBC Watch Watchdog last night about how the bank ripped off an elderly couple? also is there PPI on this current loan? I would personally challenge the Branch Manager's decision with their head office.


AMD