How to prevent Son keep applying to payday lenders

MEM62

Marksfish wrote: »

My 18 year old Son was on an apprenticeship (£2.68 per hour slave driving really). I have since found out he had a payday loan with Wonga recently. We made him pay it off straight away. We then found out he had one with Quickquid which we think he has paid off. He has received letters from a company called Peachy (stooping so low as to have to snoop on his post now) and putting his sim in my spare phone (his is broken and he wanted to borrow one) has shown several applications to other payday lenders. He currently now has no job and will not talk to us about the loan situation.

Sorry too hear that. I can imagine that you are very concerned.

Do these companies not credit check? Can they not see the amount of applications he is making, his credit score isn't great as he also defaulted on his Barclaycard.

Probably not. That is why their charges are so high because they are high-risk lenders.

I just can't get into his head how he is affecting his future and how much grief we are also going to get. He also gave up his job last week, so has no way of paying these loans back now. Is there something I can have added to the house records (like a notice of correction) so that if a lender does check him, it will automatically have to be referred? Problem is, I don't really want it affecting me as we are due to re- mortgage later this year.

There are no 'house records'. Credit checks are against individuals - not addresses. (Your house cannot apply for a loan )

Other than throwing him out of the house, there is not much else I can do, but would be grateful to hear any constructive suggestions that don't tell me what a bad parent I am..

You can't do much more. You can only take him so far and then he has to grow up on his own. You can only hope that he does it before he gets too deep into debt.

Thanks

I hope it works out in the end.

brendon

Perhaps giving up this job was a wise decision, if he's actively looking for work elsewhere. I know these apprenticeships are touted as being about 'learning and earning'. In reality, they are about dirt-cheap slave labour paying £2.50 an hour.

The best you can do is take a step back, offer advice and let him solve the problem himself.

Neil_948

Marksfish wrote: »

stooping so low as to have to snoop on his post now

You have to let him find his own way out. As opening other peoples mail Is a criminal offence and is covered under tampering with hrh royal mail (it is what stops the postman or anyone else from opening your mail on the doorstep or anywhere else)


Like others have said support him emotionally then make sure he's paying board to cover food and all other household contributions if he complains then ask him one question

What would he do if he had his own place to support?

Other than that the only other support you need to give is a shoulder and help him budget if he asks for it.


The only time anything goes against a property is a secured debt.

Marksfish

Thanks for some of the constructive replies, they have been useful.

Just for the record, as everyone seems to have jumped on it, no mail has been opened. It is just looking at the postcodes on the back of official looking letters and putting that in Google, so no crime committed there Neil_948 As for the texts, again I have not read them, but putting his sim into a unlocked phone for him (he asked if there was a spare phone and I was checking it worked) as his was broken, downloaded the headers for me to see.

I realise that his actions don't affect my credit history, unless, he gets a fraud marker put against the address because applying for a loan with no means to pay back in my books is fraud.

I must admit to being a bit more worried about bailiffs as although he owns nothing, he can't prove that if they come knocking. I may give him a rent book to show that he is living in a furnished accommodation. It would be better if the companies did it the old fashioned way of county court, but first stage now always seems to be a debt collection agency with huge fees.

I need to get him to sign up with Callcredit really, but not sure he will. I am going to print off a dummy credit report to see if it will sink in what he is doing. I have to wait for the Wife to come home tomorrow for the talk. I can't talk to him as it always ends up coming to blows.

Neil_948

Marksfish wrote: »

Thanks for some of the constructive replies, they have been useful.

Just for the record, as everyone seems to have jumped on it, no mail has been opened. It is just looking at the postcodes on the back of official looking letters and putting that in Google, so no crime committed there Neil_948 As for the texts, again I have not read them, but putting his sim into a unlocked phone for him (he asked if there was a spare phone and I was checking it worked) as his was broken, downloaded the headers for me to see.

I realise that his actions don't affect my credit history, unless, he gets a fraud marker put against the address because applying for a loan with no means to pay back in my books is fraud.

I must admit to being a bit more worried about bailiffs as although he owns nothing, he can't prove that if they come knocking. I may give him a rent book to show that he is living in a furnished accommodation. It would be better if the companies did it the old fashioned way of county court, but first stage now always seems to be a debt collection agency with huge fees.

I need to get him to sign up with Callcredit really, but not sure he will. I am going to print off a dummy credit report to see if it will sink in what he is doing. I have to wait for the Wife to come home tomorrow for the talk. I can't talk to him as it always ends up coming to blows.

I apologise Marksfish just I surmised as snooping on post meant you was opening his post prior to him receiving it

[Deleted User]

Disable his internet connection at 'your house' your rules, though he probably has up to date phone..... silly me! and so I'm with all the encouragement to get better paid job if he can, I still had to socialise when I was the apprentice and never learnt anything until it was to late, employers are a lot to blame.

FireWyrm

Neil_948 wrote: »

You have to let him find his own way out. As opening other peoples mail Is a criminal offence and is covered under tampering with hrh royal mail (it is what stops the postman or anyone else from opening your mail on the doorstep or anywhere else)

!!!!!!! For the last time, it is NOT A CRIMINAL OFFENCE to open a letter addressed to someone else. It is a criminal offence to PROFIT or engage in some criminal activity using the information you find IN the letter.

Dabooka

FireWyrm wrote: »

!!!!!!! For the last time, it is NOT A CRIMINAL OFFENCE to open a letter addressed to someone else. It is a criminal offence to PROFIT or engage in some criminal activity using the information you find IN the letter.

Now now, don't let simple thing like facts get in the way of a good bit of scaremongering.

It annoys the hell out of me too reading that!

bouncydog1

As your son is 18 could you take him out for a beer and discuss? Hard when your children reach adulthood in years but not in maturity. Try hard to keep the communication channels open and apply 24 hour rule - think about what you want to say and then go away and think about whether you really do want to say it 24 hours later when you have simmered down. You can't live your so s life for him - just try and offer constructive e impartial advice.

Good luck and do you recognise any of your traits in your son??

Marksfish

My Wife has managed to have a calm conversation with him today. It seems it isn't as bad as we thought, but he has still defaulted on 1 of 3 of the loans, but it wasn't a huge amount!! The Wife will ring them with him tomorrow to make whatever arrangement can be made. She has also gone through his bank statement with him to make sure there are no new deposits he hasn't told us about.

The text messages weren't applications, they were companies sending him "pre approved" offers of loans. How irresponsible is that?? I am trying to get him to sign up to Noddle as I showed him the sample report, but he doesn't want to go down that road, so we have no idea what he may or may not have actually applied for.

I was pushed into a mortgage at 18 years old bouncydog1 in the late 80's, just as interest rates went to 15%. My mortgage went from £250pm to over £650pm, I only earned that!! My house was repossessed as a consequence. I also had a couple of credit cards as I was young and still wanting to have a good time, so yes, I too was irresponsible. This was in the days before CML and credit scoring as it is today, the bank would still make a manual decision. I learned the hard way through my mistakes, I just don't want to see the same mistakes made again.