stuck

clements

Hey everyone. got myself a bit of a problem
i have a barclaycard (22 months interest free) that i used to transfer some balances. that ive now cleared. But now thats all on there is my mams balances. Shes had debt problems of her own and has now set up a DMP with 123 debt recovery.

now will this process affect my credit rating, and cause me problems down the line?

what difficulties will i and her encounter?

i also have a credit card that i use for "high priced" items, that i almost use as a buy now pay in instalments type.

i have have a £300 overdraft and a loan with hsbc

im paying these off pretty well.

any help and advice would be appreciated

StressedSteph

If the CC is your name, the only person who knows its not your debt is your mother.

I doubt it will be included in her DMP and either she will have to pay you back a little at a time or you will have to pay it off.

Doubt it will effect your credit score, unless you or she do not pay it.

I might be wrong, I am sure someone more knowledgeable will be along soon. xx

clements

shes told the company that its in my name and they said thats fine?

thank you for your response

sistafromanothermista

If it's your card then the debt is yours and nothing to do with your mum and her circumstances.

StressedSteph

So are they including it in her DMP and they /she will be paying you?.

Would imagine that it would have to be the minimum payment though as surely they cannot contact your CC company to ask for smaller payments?.

xx

theoretica

clements wrote: »

shes told the company that its in my name and they said thats fine?

thank you for your response

The company managing her DMP may have said it is fine from their point of view. This does not mean Barclaycard think it is fine. As it is in your name Barclaycard will mess up your credit rating unless you pay it off as agreed - lending your mother the money to do this.

I hope your mother is not being charged for the DMP - there are free charities.

clements

I don't know thats why im coming here. i feel im stuck in the middle. i dont want it to affect me. yet i don't want to hinder my mother

if that makes sense.
The card is in my name but all the money owed will be paid back by my mother

sistafromanothermista

StressedSteph wrote: »

So are they including it in her DMP and they /she will be paying you?.

Would imagine that it would have to be the minimum payment though as surely they cannot contact your CC company to ask for smaller payments?.

xx

Surely they can't include it in the OP's mums DMP if the debt now belongs to the OP?!!

rising_from_the_ashes

Sorry but I'm really confused

clements wrote: »

i have a barclaycard (22 months interest free) that i used to transfer some balances. that ive now cleared.

You have a B/card with a 0% interest deal that you've cleared

clements wrote: »

But now thats all on there is my mams balances.

So your DMs debts are where - on your B/card?

Your debts and hers should be separate .... why has she got debts on your B/card (assuming I've understood correctly)

clements wrote: »

Shes had debt problems of her own and has now set up a DMP with 123 debt recovery.

Has your DM got money outstanding on your B/card?

If so, that debt is now in your name and you are responsible for it.

Lensman_2

Is the card in joint names? Or did you get her an extra card for your account?

If you gave her a card on your account then I assume that you are actually the creditor - I think the situation is the same as if you lent her that money. And the CC balance is still yours to pay.

If it was in joint names then she can pay the CC directly but you will be financially associated with her. Her DMP will possibly affect your credit rating.

Lastly, if 123 Debt Recovery are fee paying then please get her to change to StepChange or Payplan who will do exactly the same service for free.

clements

ok. i took out a barclaycard to clear my credit card that i was paying interest on

i transfered some of my mams balances also. which are still outstanding, having cleared all mine off

hope that makes sense