re-credit check

joe134

Hi, My Daughter has just told me she owes £15k on credit cards,,+numerous mortgage problems, involving her partner who is due to leave her holding the baby.
Can I do a credit check on my daughter, to satisfy myself that there are no other debts that are down to her that she has not told me of?
I have arranged for her to see her bank, and just want to be forewarned whether I help financially, if possible???
I think bankruptcy may be her only option;;;
Any advice would be grateful.

tigerfeet2006

Hi and Welcome to the Bankruptcy (BR) Board.

The first step she needs to do is to make a list of all her creditors, debts and assets. Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial. They will go through all her options with her and if they suggest bankruptcy then come back to this board and we will help you and her all we can. Also if she is not ‘clicking’ with one of the Debt charities do try another. We advise people to try at least two for their own piece of mind. Her BR could be refused if she has not sought advice.

* Blue text on this forum usually signifies hyperlinks, click on the blue links below *


Main recommended sources of help:

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National Debtline - Website: National Debtline Telephone: 0808 808 4000 <LI sizset="436" sizcache02746825476468669="16">Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)
[*]Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111

Others:

<LI sizset="439" sizcache02746825476468669="16">

Business Debtline
- Website: Business Debtline Telephone: 0800 197 6026 <LI sizset="440" sizcache02746825476468669="16">Christians Against Poverty <LI sizset="441" sizcache02746825476468669="16">PayPlan
[*]TaxAid - Help with tax debts.
Please make sure she doesn’t do anything rash and make sure she takes her time and weigh's up her options and reads everything she can.

For ‘essential’ BR info this is Fermi’s sticky.

BR friendly home insurance thread.

BR Friendly bank accounts sticky.

BR Abbreviations.

We often ask people to post their SOA so we can see if they have included what they need to:-
MSE SOA Calculator - Click here Select the MSE format at the end. Copy and paste onto your thread.


If you are new/old to this board and receive/see a comment that is not helpful or insensitive please don’t let it put you off posting, often these comments are made by people who don’t normally contribute to this board and don’t speak for us.

What to do if you get an insensitive or hurtful comment.


And do remember we’ve all been through this and anything you don’t understand don’t be afraid to ask.

As far as I am aware you will not be able to get hold of your daughters credit files because of data protection. I am sure someone will tell me if I am wrong.

Best wishes TFx

sniggings

it's the owner of the credit report is the only one that can request a copy,you could ask your daughter to get a copy for you,they are only £2 and you can do it online and have it posted out or view it online.

here's a link to request those reports http://www.ico.gov.uk/for_the_public...es/credit.aspx

there are 3 bodies that collect this info so better to get all three as some debts may be missing of one.

joe134

tigerfeet2006 wrote: »

Hi and Welcome to the Bankruptcy (BR) Board.

The first step she needs to do is to make a list of all her creditors, debts and assets. Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial. They will go through all her options with her and if they suggest bankruptcy then come back to this board and we will help you and her all we can. Also if she is not ‘clicking’ with one of the Debt charities do try another. We advise people to try at least two for their own piece of mind. Her BR could be refused if she has not sought advice.

* Blue text on this forum usually signifies hyperlinks, click on the blue links below *


Main recommended sources of help:

<LI sizset="435" sizcache02746825476468669="16">

National Debtline - Website: National Debtline Telephone: 0808 808 4000 <LI sizset="436" sizcache02746825476468669="16">Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)
[*]Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111

Others:

<LI sizset="439" sizcache02746825476468669="16">

Business Debtline
- Website: Business Debtline Telephone: 0800 197 6026 <LI sizset="440" sizcache02746825476468669="16">Christians Against Poverty <LI sizset="441" sizcache02746825476468669="16">PayPlan
[*]TaxAid - Help with tax debts.
Please make sure she doesn’t do anything rash and make sure she takes her time and weigh's up her options and reads everything she can.

For ‘essential’ BR info this is Fermi’s sticky.

BR friendly home insurance thread.

BR Friendly bank accounts sticky.

BR Abbreviations.

We often ask people to post their SOA so we can see if they have included what they need to:-
MSE SOA Calculator - Click here Select the MSE format at the end. Copy and paste onto your thread.


If you are new/old to this board and receive/see a comment that is not helpful or insensitive please don’t let it put you off posting, often these comments are made by people who don’t normally contribute to this board and don’t speak for us.

What to do if you get an insensitive or hurtful comment.


And do remember we’ve all been through this and anything you don’t understand don’t be afraid to ask.

As far as I am aware you will not be able to get hold of your daughters credit files because of data protection. I am sure someone will tell me if I am wrong.

Best wishes TFx

Hi Tigerfeet, thankyou, this bombshell was just dropped in my lap today, I knew the house situation, (complicated), english/spanish mortgages, 4 credit card debts,years old, totalling £15k, and today, got settlement of £10k, but 1 is applying a order on the one she lives in 14/2/2012, (interim).
Never been through this, and want to help her, but not her partner, who got her in this mess.
she NOW realises her stupidity, but, we are all wise after the event.
Even though she,s 49, she ,s still your child.but there,s only so much bailing out one can do,and she needs professional advice.
Thanks for the links, surprised at CAB using 0844 , premium on package as I have.
Will read everything you posted, and appreciate your reply.

joe134

sniggings wrote: »

it's the owner of the credit report is the only one that can request a copy,you could ask your daughter to get a copy for you,they are only £2 and you can do it online and have it posted out or view it online.

here's a link to request those reports http://www.ico.gov.uk/for_the_public...es/credit.aspx

there are 3 bodies that collect this info so better to get all three as some debts may be missing of one.

Hi sniggings, I,ll get her to get it online, via me, thanks.

tigerfeet2006

No problem Joe. We will do our best to support you both through this.

For what it is worth I think you are right and the time for bailing out is gone and the time for supporting her to sort things out the right way is now.

Florence22

Can I just say Joe - those of us that have the support and backing of our parent/s are so very lucky - you're a good Dad, however old she is :T
Flo

joe134

Florence22 wrote: »

Can I just say Joe - those of us that have the support and backing of our parent/s are so very lucky - you're a good Dad, however old she is :T
Flo

Thans all, really appreciate your help. I,ve always been a MSE buff, but never thought I would have to seek this type of advice, always one to give financial advice, but the children don,t take it.
It will take time, I need to know the extent of her debts, which, is several, 2 mortgages, 1 here, living in it, remortgaged,twice, repayment only, no endowment or other vehicle.£113k.
Spanish morgage, repayment, approx £80k.
Spanish house, payed for , rented, on sale, no buyers.
£15k CC debts, income approx £1000,pcm, hers, partners, ??????????
cash in hand shyster, no tax/stamp, etc;
That,s the gist of it,but need to take one step at a time, firstly, to try and maintain her roof over her head.
No mortgage defaults yet,????
Seeing bank manager Monday, spanish property, 2nd, CC,s next, due to charge on her house being applied shortly,(land registry) by CC company.
I can clear all her CC,s, but no point if she has to go go BT, her credit rating must be shot to pieces now.
Sorry it,s a saga, just need to know where to start first, which is CAB/bank. Thanks again:beer:.

joe134

joe134 wrote: »

Thans all, really appreciate your help. I,ve always been a MSE buff, but never thought I would have to seek this type of advice, always one to give financial advice, but the children don,t take it.
It will take time, I need to know the extent of her debts, which, is several, 2 mortgages, 1 here, living in it, remortgaged,twice, repayment only, no endowment or other vehicle.£113k.
Spanish morgage, repayment, approx £80k.
Spanish house, payed for , rented, on sale, no buyers.
£15k CC debts, income approx £1000,pcm, hers, partners, ??????????
cash in hand shyster, no tax/stamp, etc;
That,s the gist of it,but need to take one step at a time, firstly, to try and maintain her roof over her head.
No mortgage defaults yet,????
Seeing bank manager Monday, spanish property, 2nd, CC,s next, due to charge on her house being applied shortly,(land registry) by CC company.
I can clear all her CC,s, but no point if she has to go go BT, her credit rating must be shot to pieces now.
Sorry it,s a saga, just need to know where to start first, which is CAB/bank. Thanks again:beer:.

UPDATE::
HI GUYS, Sorry to be a burden, just cannot get my head around this;
As my daughter has multiple financial problems, with 2 mortgages and 4 credit cards which we have got settlement figures of £10k from £15k, her partner is non cooperative at all, even though, he caused it all, WOULD I be better off clearing her credit cards cash????? instead of going down DRM route.
1 for £5k is slapping a charge on the house, (negative equity anyway,interst only,no payment vehicle), and says if not paid it goes back to original £6k in weeks;
Does the DRM deal only with cards/loans not mortgages??
She has a house payed in spain,land also, but a property, which her partner is going to soon, leaving my Daughter in the lurch;
QUESTION;;I have the cash, should I pay her cards and see if I can keep the roof over her head??
As A pensioner, and me having to sort ALL her affairs, with wife, is it easier to just pay up?? as usual; Can do without the hassle, although I enjoy a financial challenge, this is different;;;
Advice would be grateful.

tigerfeet2006

No! No! No! Don't bail her out. Don't! Who will do it next time? She won't learn if you do give her the money as in her eyes she will always have you to run to.

BR is not the end of the line. It is the last resort, certainly BUT it is the starting block for learning new financial habits.

Help and support her but don't do it for her, she needs to have her LB moment and do it herself. Her first step is to get advice from the debt charities.

Her unsecured debts will fall into the BR but the secured debts will not until the property is repossessed and sold on. As long as she doesn't sign anything admitting liability.

Encourage her to get in touch with the charities and encourage her to come and talk to us here. She needs to do this for her own sake.

Sorry, hope you don't think I am being too harsh.

joe134

tigerfeet2006 wrote: »

No! No! No! Don't bail her out. Don't! Who will do it next time? She won't learn if you do give her the money as in her eyes she will always have you to run to.

BR is not the end of the line. It is the last resort, certainly BUT it is the starting block for learning new financial habits.

Help and support her but don't do it for her, she needs to have her LB moment and do it herself. Her first step is to get advice from the debt charities.

Her unsecured debts will fall into the BR but the secured debts will not until the property is repossessed and sold on. As long as she doesn't sign anything admitting liability.

Encourage her to get in touch with the charities and encourage her to come and talk to us here. She needs to do this for her own sake.

Sorry, hope you don't think I am being too harsh.

Hi Tiger, Thanks for reply;
This on top of losing a brother this last week couldn,t have come at a worse time emotionally.Sorry for bleeding heart story;
If I go down the DRM route, do the reduced settlement figures still apply;
Her job was iffy only last week, and Her partner is cute, and manipulating.(delboy)
I honestly believe BR is inevitable at some future date.
I,ve never known someone with such complicated affairs.
To be honest, I was bailing her out for MY ease.
I understand your advice and i know it,s correct.
The letters from the debt companies all give her deadlines to pay;
Never owed a penny in my life, she,s sat on these for years,and didn,t let on,still living it up;
Does the person from the cccs, which I have registered with yesterday, try to reduce the amount on CC,s, and form a payment structure for her, and if it cannot be met, do they reccomeng BR?
Never been here before,always just bailed THEM all out, she,s not the only one unfortunately;;
I will adhere to your advice, and see what I can do.
Thanks so much;
I know she won,t do this herself, so I have to do this, DRM whatever, Charities, as I know she will just defer.
She has asked me for advice, hence this post.I need to see it through, with me watching over her, to see it,s being done.I cannotexpect her to do it solely, that,s why she,s in this mess.