Lloyds TSB and 16 year old son

johnbfan

Stupid boy has been spending without having money going in since Christmas. I've paid it before as its usually just been £3 or £4. Seeing as how its obvious no money is going in and he is still using his account you would have thought someone there would have 'twigged' and said 'stop that card'.

Can the account be closed by my son without paying the money because as you say they allowed him credit on an account that has no credit facility.

Kilty_2

It'd be a pretty shaky legal loophole if it could, so I'd just let him face the consequences of what he's done.

He's not going to learn if you keep paying it for him so just let Lloyds do whatever they are going to do and hopefully he'll realise that he can't keep messing around with banks. (Before he's 18 and it starts really harming his credit file, etc)

johnbfan

As you say Kilty its better for him to get it wrong now than when he is 18 and and more harm is done.

He is only following in his father and older brother's footsteps. Of the four of us its just as well I am financially aware. Just as well!!!

Kilty_2

He'll soon realise that he can't mess banks around as much as they can mess him around

ohmsoft

Normally I would totally agree with the message in the last few posts but the simple matter is he's not old enough to enter into this sort of contract. While I understand the need to demonstrate the consequences the Law is there to protect under 18s from the very same.

I think you/he should contact the bank and inform them that they have lent and are trying to inforce payment from a minor - if you want to pay the amount off with the complaint that would be fine.

Unfortunetly whether the account is closed is between your son and the bank as over the age of (i think) 14? a person can take ownership or their own account.

techno_geek

Ask Lloyds to write to your son, explaining in no uncertain terms what he's done and what the future consequences can/will be unless he bucks his ideas up! Ask them to do this as part of their corporate responsibility to educate minors about the banking system in this country, and they should respect this.

If your son has this information reported to Experian etc, he will be unable to open any further bank accounts (especially student bank accounts, if he plans on going to university) and will cripple him in a very important time in his life when he's trying to start earning money. Don't let him learn the hard way, but don't let him get off scott-free! Strike a happy medium, and the situation should hit home eventually.

(Tell him to imagine a situation where he cant get paid because of his stupidity now, where he can't afford a car or a holiday, where he can't rent a flat, where he can't afford to go to university, where he can't get employed in a large company that would pay well, save for the fact he has some serious black marks on his credit record)

ohmsoft

I hope nobody minds me posting this link but may contain some useful information http://www.adviceguide.org.uk/index/your_world/consumer_affairs/young_people_money_and_consumer_rights.htm#debt

johnbfan

I have warned him of what is going to happen (same thing happened to his older brother but he was over 18) so he knows the risk and how serious it is

Think I will write to the bank and tell them about his age etc and see what they say. Might be nothing knowing them, but you never know. Maybe could come to an arrangement to avoid the Experien route and he could pay a bit a week from his pocket money (not from us but from the grandparents).

The most important thing would be to get them to freeze the use of his card totally.

Well, off to do a letter to the bank now.

johnbfan

Chris had another letter this weekend about him paying them back and being passed to credit agencies.

Am going to write a letter putting them in the picture this week. If they take notice all well and good, if not at least I've tried to put them in the picture.

johnbfan

Well, I've done nothing for this son - 17 next month and owes the bank over £50. He has not had a letter (at least I don't think so) for a few weeks now, and has not paid the money back. The bank wrote saying they would report him as a bad risk to Experian etc.

He is not working, has not got the money to pay it back and I have not. I was considering writing to the bank explaining his situation and asking to not have his name passed to these organisations but decided against it.

It will mean he can't get credit etc and at his age six years is not a long time to be a credit risk and he can't get in any more trouble so I've decided to leave it and let the banks do what they want. If they request the money back I may write then but until then will leave him to be reported. I think its for his own good.