Loan taken out using home address

iolanthe07

AFAIK, and it certainly used to be the case, she cannot be called to the bar if her debts lead her to formal bankcuptcy.

sorethumbs

After the advice of you good people here I've just rung the student accommodation people and her account is paid up to the end of the school year (6th September). We're now going to push her hard into finding accommodation a lot nearer the Uni (instead of an hour away on the tube). She (we) will have paid £9000 for the Unite accommodation over a year, I don't know how reasonable that is for London but I'm sure we can get something cheaper, nearer and hopefully get her working.

Kids :mad:

FireWyrm

sorethumbs wrote: »

...her account is paid up to the end of the school year (6th September).

.....hopefully get her working.

....Kids :mad:

My highlights.

I see a common theme here. She isnt a child, this isnt school and its about time she grew up. She is an adult studying a vocation to assist her in her future life as a productive member of society.

Stop treating her like a 5 year old who forgot her homework and tell her to get her a$$ in gear and get on with her life because you arnt going to do it anymore.

Apples2

sorethumbs wrote: »

She (we) will have paid £9000 for the Unite accommodation over a year, I don't know how reasonable that is for London but I'm sure we can get something cheaper, nearer and hopefully get her working.

Kids :mad:

Mine was in Woodland Court near Caledonian Road Tube station.

She now shares a flat near Emirates Stadium for a much more reaonable £400 per Month. She also has a job :T:T

Lifeforms

Make sure you note that you are removing guarantor rights after the end of this year so she or they don't just carry on for another year. Be wary about being one again. Yes it's great to assist your daughter starting out, but don't let yourself be liable for her behaviour when she's not even living with you. If she plans on living on in London after her degree is done she really needs to wake up fast to the cost of living, not just surviving in a premium priced city.

If it helps, show her this thread, as some of the information will be useful to her including her blas! feelings about debt, then send her along to the student section, and the debt sections for advice. She might be surprised and worried enough to sit down and think things through.

I don't think anyone is saying don't help your daughter, but now it's time to help her in an appropriate way so that at age 25 or 35 she's not just completely up to her eyeballs in debt, or has no hope of getting a job she really wants because of it, or having to go bankrupt.

Vikipollard

Lifeforms wrote: »

Make sure you note that you are removing guarantor rights after the end of this year so she or they don't just carry on for another year. Be wary about being one again. Yes it's great to assist your daughter starting out, but don't let yourself be liable for her behaviour when she's not even living with you. If she plans on living on in London after her degree is done she really needs to wake up fast to the cost of living, not just surviving in a premium priced city.

+1 to this. I'd go as far as to say write to the accommodation (copy to your daughter) stating you categorically remove yourselves as guarantors. And send it recorded delivery.

Tough love, but she needs to stop sulking, grow up and take responsibility. In the first instance, this will be finding new accommodation for September, knowing she has to pay for it herself. She presumably gets a student loan and needs to sit down and work out a budget ~ including how she's going to pay off those payday loans she's taken out.

Please dont get suckered in to helping her out. She isnt showing any intention of being responsible ~ if she was, it'd be easier to feel some empathy.

Before I get tongue-lashed for being a wicked old harridan (which of course I am), my son has just completed his degree. I've been in trouble with money before, but have been skin-strippingly honest with him about how I got there and the consequences of it.

His rent in a house share was just shy of our mortgage per month, so not an insignificant sum. He was fortunate enough to get a job at the airport, just one day per week, but it nets him £200 ish per month. With his student loan and this money, he has never once gone into an overdraft situation and does not have a credit card. We give him £200 per month (which is all we can afford), but he puts this in to savings so when his laptop died he had the means to change it. He also has it for a car or rent if he needs to move when he finds full time work.

It is perfectly possible for young people to cope but they have to be prepared to make sacrifices. Time for tough love.