Rules on Loans

[Deleted User]

merv1977 wrote: »

and an RBS credit card we discovered in his and my mother name after she had died.

Who was account holder for this card?

19lottie82

OP, I understand your frustration, but as someone has pointed out, banks need to push and make "sales" to make profit.

As far as they were aware, your father was perfectly capable of making his own decisions re his finances. They had received no information informing them otherwise.

If you think that this isn't the case, maybe you should apply for Power of Attorney, to prevent anything like this happening in future. Or do you have this already? It's not quite clear by your post.

merv1977

They may go down as luxuries but because my father is dependent on alcohol to just stop would be worse for his health and could well kill him, it has to be carefully manage over time.

Question how much do you Smoke. my dad only smokes a pack of 20 a day.

Saying they do not have a Duty of care again i refer to the argument about selling to someone who is vulnerable at there home.

I have spoken to the doctor about my dads mental health at the time and he say's with what he was going through at the time he may well have accepted the loan to take a problem away.

He made an arrangement in August 2013 to pay £100 a month back for three months which was more than is excess £72 every month which could cause more problems he stuck to this and he was £6 short when it went back up, The big fact is they were not providing him with statements so he could keep track of his account so they have to take some blame there.

The other thing is when he missed that payment by £6 in november they never rang or sent a letter saying he missed the payment if they had we could have sorted this then.

My father does not want he bank account closed and we have already said we would like to seek independent financial help like step change or someone else they replied if we do that they will have to close the account.

So it's a case of there way or no way.

We made an offer to the bank to repay the loan at £250 a month for six months while my dad is getting treatment with the doctor. My dad is drinking less all the time which is saving money but it is a slow process and in six months we may be able to pay the full £331 or close to it but they wont budge.

Thank you bargainbetty my dad is slowly with help getting there but will be a long time before i see the old him again

Caz3121

merv1977 wrote: »

...so my dad had to pay for her funeral from his own pocket he did this using his Barclay's credit card.

................ he was sinking deeper into debt trying to pay his Barclay's credit card and an RBS credit card we discovered in his and my mother name after she had died.

..............another funeral expense to pay for again he put this on his credit card which put him further into debt.

In Jan 2012 he got a call from his bank asking him to come down to his local branch and discuss his finances as he was falling behind,

aside from the "should they have given him a loan", what would have happened if they had declined a loan and called in his debt with them? I assume that the interest rates on his cards were higher than the loan and with missed payments the debt would have been building. It may well have forced the issue sooner..bankruptcy maybe?...is he looking at that now?

Gaz83

merv1977 wrote: »

my dad only smokes a pack of 20 a day.

A pack of 20 cigarettes is about £7. That's over £200 per month.

You may say "why deny him this pleasure" but there's as good a reason as any.

pjread

sounds harsh but I gave up smoking purely because I can't afford it even though I'm a higher rate tax payer. I loved smoking, despite the horrendous health implications, but fact is it's bloody expensive.

pjread

[QUOTE=Gaz83;[URL="tel:64934875"]64934875[/URL]]A pack of 20 cigarettes is about £7. That's over £200 per month.

You may say "why deny him this pleasure" but there's as good a reason as any.[/QUOTE]
Last time I noticed in a queue, the cheap ones were £8.something ?

kayekoo

My kind friend is loaning me some money to help me out - I want to give her some security for the loan.
Can I write a letter making a list of all the things that I own in my house & saying that she is nowthe owner of them until such time as I repay the loan back in full? That she has full rights to the items & can levy on them should I not repay the loan in full.
Would it then be hers legally? & would we both need to sign the document to make it legaly binding?
Thank you in anticipation.

Apples2

kayekoo wrote: »

My kind friend is loaning me some money to help me out - I want to give her some security for the loan.
Can I write a letter making a list of all the things that I own in my house & saying that she is nowthe owner of them until such time as I repay the loan back in full? That she has full rights to the items & can levy on them should I not repay the loan in full.
Would it then be hers legally? & would we both need to sign the document to make it legaly binding?
Thank you in anticipation.

You should start your own thread rather than add to this one.

Why don't you give your friend all your "stuff" of value and you can do an exchange of something each time you make a payment?

If you stop paying, you won't be giving your friend anything, you will ignore her calls, it what everyone else does.

jmhgibson123

i would try going down the route of a letter explaining all this you have to us and if you dont get a reasonable response as to why your vunerable dad was given a loan at his age you will escalate it to the ombudsman, this will buy time with repayments and never feel like you have to pay more than you can afford, even a token payment of a £1 covers you for a while . good luck