Need to help elderly parents - Secrets out!!

Bella54

Hello again

Swift charge huge amount in interest. They have missed a couple of payments and they have added on 3K for this.

They would rather hell freeze over than move into rented. I think they wont have much option if we don't find a solution.

They have kept it all a secret and sister found out whilst they took a holiday abroad. My sister and I paid for this instead of xmas, birthdays etc I don't think they understand how serious it all is.

They never told us about the Lloyds loan. We found out by doing credit search. I estimate they have a total of 24K income between them and pay out £880 a month on loans and council tax. They must be struggling for anything else.

Bella54

Just seen the other post about credit cards.

We are not sure. It was a noddle search we done and I don't think its enough. Applied for the Experian one today. It looks like they have £5 a month x 2 payment plans with someone.

AlexLK

Surely you should not be delving into your parents credit history without their permission, anyway?

dzug1

Bella54 wrote: »

. So far we have sent of a SAR to both companies and are looking for PPI and charges.

After this we will ask for redemption figures and see how much this is.

.

I hope this is shorthand for got your parents to sign an SAR request and posted it on their behalf

If not don't be surprised if they refuse to have anything to do with you.

It is a very difficult situation though - ultimately they are responsible for their own finances, even if they have help from you in terms of advice and information. It's not clear if they want that help or regard it as unwanted interference

Be very wary of taking on personal responsibility for their debts - you could yourselves land up in a worse situation than they are in.

I don't really have an 'answer' though - there may not be one

ViolaLass

Bella54 wrote: »

Just looking for information really. Are we going about this is the right way? is there anything else we should be doing? Anyone have anything interesting they can tell me about Swift 1st.

Talking to your parents. Have you?

cynicalgit_2

I think its lovely that you and your sister want to help your parents.
I expect they are both very embarrassed and too proud to want to talk about it.
I think your're right to want to help them, its just finding a tactful way to do it.
If they earn £2k a month it may be possible to sort something out.
They need to file a SOA to see whats going on.
Its a tricky situation trying to sort it out without hurting their feelings.
Good Luck

Bella54

Thank you Cynicalgit - that's its exactly.

of course we have spoken to them. They signed the Sar and know about the credit check. I have no other motive here other trying to help them keep a roof over their heads.

I was hoping for some guidance here really. Thanks to those who have given it.

ViolaLass

But if you've spoken to them, why are you having to do searches to find out about their loans? Don't they know about them?

cynicalgit_2

I've just come through a very difficult time in my life but if it wasn't for the help from my brother I would have been wiped out.
I always helped my kid brother when he was younger, I found it incredibly embarrassing to ask him for help.
As a parent I was too ashamed to talk to my daughter about it.
Your parents must be very proud to have daughters like you trying to sort out their problems, they obviously brought you up well.
Stick at it.

Bella54

Fell like I am being investigated now.

We done search as they have no paperwork and have had credit cards in the past - a lot of them. I thought I would look into late charges and PPI.
Just need a clear picture of what we are dealing with to help them. We are not doing anything behind their backs. They are very embarrassed and slow with the information.
they cant work a computer or anything and the thought of getting a credit search online would never occur to them.

Maybe this forum is not what I thought it was. Thanks for those who tried to help.