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Step Sons Finance
Hi all
firstly if this is posted in the wrong forum then i apologise.
My problem is with my stepson who lives with us,he is 21 and last December i took finance out for him to buy a new car,he promised me faithfully he would not let me down and since then he has never paid a month on time we are paying the finance for him and so far he owes us nearly a £1000 he pays keep some weeks and some times he will pay extra to try and pay back what he owes but i want to try and find out what my options are,i took the finance through Black Horse and am seriously considering defaulting because frankly we could do with the money we are paying for him.
He has the ability to earn a good wage but its almost like he cant be bothered the car was registered in his name but i am going to make him sign it over to us and i also believe that he is driving it uninsured.
He doesnt seem to care and i am thinking it is better got rid of as he doesnt deserve it.
Please can someone advise me on what i can do apart from slay him
Embazzy
firstly if this is posted in the wrong forum then i apologise.
My problem is with my stepson who lives with us,he is 21 and last December i took finance out for him to buy a new car,he promised me faithfully he would not let me down and since then he has never paid a month on time we are paying the finance for him and so far he owes us nearly a £1000 he pays keep some weeks and some times he will pay extra to try and pay back what he owes but i want to try and find out what my options are,i took the finance through Black Horse and am seriously considering defaulting because frankly we could do with the money we are paying for him.
He has the ability to earn a good wage but its almost like he cant be bothered the car was registered in his name but i am going to make him sign it over to us and i also believe that he is driving it uninsured.
He doesnt seem to care and i am thinking it is better got rid of as he doesnt deserve it.
Please can someone advise me on what i can do apart from slay him
Embazzy
0
Comments
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Embazzy - I would put this question in the Money saving in Families thread as they may be able to help you as well.
Personally, I wouldn't default on the loan if it is in your name as it will be you that Black Horse chase not your step son............Sealed Pot Challenge Member Number #19060 -
If the loan is in your name then it is your debt.
There is a way you can legally check whether he has insurance but you need to wait until his next car tax is due. If you go online to try and pay it will decline if the car has no insurance (or MOT if one is needed).
Would you shop him to the police if he has no insurance - only you can decide that.
Has he agreed to sign the car over to you (legally you can't make him)? If not then you need to consider a small claims action against him - how would you feel about doing that to him?
Before any action is taken go to your local CAB for advice.
It may come down to your family having to make a choice between the car or your stepson.
Tough one!
(Been there done that although not finance for a car!)0
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