Bankruptcy because of family member

MK55

Morning everyone, I'm in need of some advice after finding out some awful news from my Gran last night.

in 2009 my Auntie, (my grans youngest daughter) went through a bad period and got divorced and set up her own business but was struggling.

Unbeknown to the rest of us, she started to use my gran by refusing to let her see the grand kids unless she helped financially. My gran gave her credit cards to support her for urgent situations. (The witch bought costa, KFC and the rest!!) :eek::eek::eek:

Fast forward 5 years, and the leopard has not changed her spots!:mad::mad::mad:

My auntie has now met the 'love' of her life and is moving 3 hours away from where we live and is refusing to pay my gran back. She's told me now the last 3 months she has been making the minimum repayments as she's been having debt phone calls. My gran is a very proud woman and is struggling to enjoy the last years of her life now :(

My Gran's debt is as follow's;

7k Nat west Credit Card
5k Capital one
3k Tesco
5k Personal loan
2k overdraft

Gran earns 1300 peson
£320 rent pm
£200 bills pm
£80 fuel
£150 shopping
that's all i can think of right at this minute.

What would be the best course of action, at minimum payments it will take her 84 years to clear the debt, but she's 74 so I think the odds of that are slim to none

Thanks for any help or advice.

kazwookie

First of all make sure the cards have been cancelled / change thr pin numbers etc, so your aunt cannot ring up any more bills etc on them.

Is the aunt going to make payments in the future?

whitewing

Well done to your Gran for sharing the situation with you. That must have been extremely hard for her.

Reassure her that there will be something she can do to help her manage the situation.

Give her this number to talk to when you are not around: 0800 4 70 80 90. This is a free helpline for older people (the Esther Rantzen one).

http://www.thesilverline.org.uk/

Who in the family knows the situation? Have you spoken to aunty yourself?

TheGardener

Some immediate steps are as said, cancel/block all the cards - report them lost/stolen - whatever it takes to ensure they are not used any more.
Get your Nans credit reports to make sure there are no other loans or cards she is unaware of.
Then get professional, free advice from StepChange and a good start is their debt remedy online tool - you could sit with Nan and work through it - you will get an instant report/plan - then call them and make a start.
Critically - does Nan own her own home and if so - is there any equity?

debt_doctor

TheGardener wrote: »

Critically - does Nan own her own home and if so - is there any equity?

Hi, we await the answer to this one in particular.


DD

alastairq

Gran earns 1300 peson
£320 rent pm
£200 bills pm
£80 fuel
£150 shopping
that's all i can think of right at this minute.

I may be wrong, but I think the above answers that question?

TheGardener

alastairq wrote: »

I may be wrong, but I think the above answers that question?

Doohhhh.... That'll teach me to post before the 2nd cup of coffee

debt_doctor

.............That does tend to help a bit Alastair, thanks!


I knew I was in for a fall any time soon, since I was extra picky a few days ago with Dennis from NDL over the start date of DRO's!

DD

MK55

hi everyone all cards now cancelled.

My gran lives with my mum. My mum bought her house when my granddad passed away & built her an annex. My gran refuses to not pay rent and contribute to bills so my mum uses this money to do extra things to the house and has put money to a side to get a stair lift if ever needed / emergency repairs etc.

I will ring step change tomorrow, would they discuss the situation directly with me? I would rather just come to my gran with the answers rather than worry her.

I've got a credit report from noodle and experian they are nearly the same as the amounts i put on but they're 2 months in arrears but only have 2--500 credit on them so she couldn't of spent much more.

MK55

Another update, all my grans savings are gone too, this was given before the credit was used.

So my gran literally has no equity or assets other than her little car that's 8 years old.

MK55

The Gardener thank you. I'm looking for online tool now and then I can show it gran later - She is coming to mine for tea She is a million times happier now she has told me - guess it's true 'A burden shared is a burden halved.”