Payday Loan for 17 year old

rosierosierosie

Oh no - what a terrible and scary situation to be in!

The first thing would be to have very stern words with your daughter, which it sounds like you have. At least she will hopefully learn from this experience. Are you sure that she has told you everything regarding this situation now?

I can't believe these companies are now cold calling those in vulnerable positions. I would agree that it is the company's issue that they didn't complete the sufficient checks necessary when completing this sort of transaction. I would seek advice from your local CAB - I really hope you get this resolved soon!

fozmcfc

You've got a couple of options here, depending on how quickly you want the situation over.

If you want it over quickly, I would contact the company and tell them, that she was under 18 and therefore should never have been given the loan, you are only willing to pay back the original amount of the loan plus the interest, probably around £100.

If they agree, then get it in writing, don't just pay over the phone.

If you are not fussed about getting it done quickly, then I would dispute it to the hilt.

I would be taking advice and then if necessary, I would be report the companies involved for selling to and then chasing money from a minor.

You should also post here which companies are involved as well and even consider contacting the press about it.

Payday loan companies are coming under heavy scrutiny at the moment and this sort of selling is completely out of order.

spacey2012

I doubt the OP came for parenting advice.
If it has her correct date of birth, she was unable to form a legal contract and Yes you can just tell them to get lost.

My opinion is irresponsible lenders deserve to lose their money.

JuicyJesus

spacey2012 wrote: »

That would make the loan company the victim of a fraud, not the OP.

If she is only 17 unless she has committed some fraud or deception then all they have are nasty letters and door knockers to rely on to get the money back.

If she has lied to say she's 18, which she'd have to have done unless the payday loan company are really that utterly incompetent, then that is quite clearly fraud on her part and she will soon discover the joys of CIFAS markers and the like if the PDL company get wind.

If she hasn't, they can go swivel for the actual money, but her credit file will likely be in tatters, meaning bank accounts (including most importantly student accounts) will be b*llocksed. They can't pursue her in court, but they most certainly can put a default on her credit history.

fozmcfc

When does someone start to have a credit file though, is it as 16, 17 or 18.

If it is at 18 then she won't have a file to have any bad marks on surely.

JuicyJesus

fozmcfc wrote: »

When does someone start to have a credit file though, is it as 16, 17 or 18.

If it is at 18 then she won't have a file to have any bad marks on surely.

Theoretically, any time. Experian et al just receive data and apply it to the customer's file, they don't do age checks AFAIK.

chanz4

A minor cant be held responsible if the correct data of birth was given, however if a false was given they can enforce under crimincal recovery. But I wouldnt be suprised if they dont register it with cifas

AndysDad

Hezzawithkids wrote: »

So lie to her?? Not a good example to be setting.

A bit ironic as shes probably lied to the PDL co in the 1st place:rotfl:

Deadbeat

AndysDad wrote: »

A bit ironic as shes probably lied to the PDL co in the 1st place:rotfl:

Well, the OP said the lender has the correct date of birth. So they knew they were lending to an under-age person. And they should have known an underage person can't be held to a contract.

No sympathy for the lender here.

Hezzawithkids

AndysDad wrote: »

A bit ironic as shes probably lied to the PDL co in the 1st place:rotfl:

So the parent should perpetuate that kind of behaviour therefore condoning it?