Desperate Situation - Advising Parents

Gaz83

As has been said, you cannot help people that refuse to help themselves.

There is no way I'd be giving anyone £100 a month who have just bought a £20,000 car.

iolanthe07

What chalkie says is bang on.

marmitepotato

Motorbility car? If your dad is disabled?

Clive_Woody

Some of the advice on here regarding debt charities is what I would go for with your parents. Step back as this will make you ill.

Not quite the same but my parents will listen to financial advice from me, then completely ignore me and go with what the 'adviser' at the bank tells them to do. Very frustrating, I am not an IFA or qualified in any way to give financial advice but I look into things and do a lot of research.

I get the impression that they still see me as their little boy and humour me by listening to what I have to say but don't take me that seriously as they come from a generation where they trust their bank manager and children should be seen and not heard. I love them dearly but sometimes feel like I am banging my head against a wall.

Brock_and_Roll

For what its worth my father was like your parents - my mum is still sorting out his financial mess 4 years after his death.

If they trust their bank manager, then hopefully they will believe him when he says that they will have no option other than to sell up and rent next year when the mortgage finishes!

DCFC79

OP well done for trying to help them bt I do have to agree with everyone else you and your brother both need to take a step back.

Bantex_2

They are adults, stop treating them like children. If they want to blow the lot it is their right. It really is none of your business.

bigadaj

The really painful conversation is the one to explain they'll have to sell their house, they presumably have used the house as a cash machine years ago as that is a huge mortgage with limited income. It would be far preferable to sell and keep what pears to be a fair chunk of equity rather than have it repossessed and be lucky to walk away with anything.

Stop giving them money, if you want to help then put this money into a separate account, as it may be needed for rented accommodation next year when they sell their house or it is repossessed.

kazwookie

1. Butt out of thier lives
2. Stop paying them £100
3. Enjoy your new married life
4. it is their mess, and NOTHING to do with you

ent_moot

It would be far preferable to sell and keep what pears to be a fair chunk of equity rather than have it repossessed and be lucky to walk away with anything.

How does this work - if the bank does not allow the mortgage to be renewed, do they have a limited period in which to sell? - How long is this typically?