Helping my parents with financial advice

Thrugelmir

cococoladebt wrote: »

Thrugelmir - Payments were missed because dad forgot to make the payments and he went on a long holiday. Hence why I set up a direct debit on all the accounts.

From a lenders perspective. Sounds even worse. As spending beyond their means.

There's no excuse for not having a dd set up from the outset.

getmore4less

The plan is to pay off £15,000 by the end of the year and the remaining balance by the middle/end of next year. All the debts have been moved on to mother's name with 0%. If the debt remains by late next year then we can move the debts on to my father's name on 0%.

Getting into £30k debt and then missing payments and then being able to pay it off in a year does not look like a couple with a sound financial plan.

Why is there any doubt about paying it all off before the 0% are up, especialy as the fall back is new credit on the person with defaults.

Who came up with this plan?