Debt advice requested

Thaddeus_Wagstaff

Hello, this is my first post on the forum, I hope this is the right place for this query

I wanted to ask for advice about dealing with debts that my adult daughter has accumulated. She has always had difficulty managing money, and she has recently had to move back in with us because her finances were in such a dire position. I have 2 questions

1. We aren't in a position to be able to pay off her debts for her. Even if we had the money, whenever we have done this in the past she has always just ended up running up even more debt, so this is not a sensible option. Are these "debt management companies" useful in these circumstances? If so, who would people recommend? If not, are there better alternatives?

2. Now that she is back living at home I worry about bad credit history being associated with my address and also how to handle bailiff visits should this arise. Is there anything that can be done to minimise my own legal responsibility for her debts?

Thanks for any advice.

lhead123

Don't go to a debt management company, they'll charge...go to a debt management CHARITY that do the same job for free - Stepchange is one of them. They'll negotiate with the creditors to freeze interest and lower payments until your daughter can pay all the debt off. Definitely a good idea if your daughter can't afford minimum payments. It will affect her credit report though, so if she can afford minimum payments it might not be worth doing depending on her circumstances.

Hopefully someone will be along soon with more advice,

sourcrates

Hi,

Thaddeus Wagstaff

Fantastic username, love it !!

First, neither you, or any other person is responsible for your daughters debt, only her.
Debt is associated with the person named, no one else, and it is not linked to property.

The best place to ask for free debt advice is one of the debt charities named in my signature, all offer free impartial advice.

How far down the debt trail is she ?

any legal action been taken ?

Bailiffs only get involved after you have been taken to court, had a CCJ awarded against you, and you have failed to pay said CCJ.

Thaddeus_Wagstaff

Hi Sourcrates
Thanks for the advice- my daughter already has several CCJs, for previous debts (which we ended up paying off for her) and Bailiffs were chasing her at her previous address for a debt which is still unpaid.

The prospect of accruing further CCJs doesn't seem to bother her much at all, unfortunately.

sourcrates

Thaddeus_Wagstaff wrote: »

Hi Sourcrates
Thanks for the advice- my daughter already has several CCJs, for previous debts (which we ended up paying off for her) and Bailiffs were chasing her at her previous address for a debt which is still unpaid.

The prospect of accruing further CCJs doesn't seem to bother her much at all, unfortunately.

Right i see, well the old adage "you can lead a horse to water, but you cant make it drink" seems like it may apply here.

If she dosent want help, you cannot force her, she has to want to sort things out otherwise its pointless getting involved.

You should try to convince her to get some advice from one of the debt charities, there is plenty of help out there, but she has to ask for it.