my sons payday loans

sudamala50

Hi my son over the years has taken several payday loans out and never repaid these. This was in the days of high interest. the last count a few years ago his debts totalled £15000. I wondered how he will stand with these now. I have tried to help him to get a DRO but seems to be burying his head in the sand. any advice would be welcome.

Mnd

Your biggest problem seems to be getting your son to face up to this. If he's not prepared to sort this then there isn't a lot you can do .good luck

sourcrates

Hi,

There is currently a big payday loan interest and fee`s refund campaign going on.

Of course you have to complain to the lender first about unaffordable borrowing, then take it to the FOS if they dont find in your favor.

And it takes a little effort on the part of the debtor, if he`s willing to he may get some of the debt wiped out, but he has to be proactive.

Info here :


https://debtcamel.co.uk/payday-loan-refunds/

D_M_E

Also take a look at https://forums.moneysavingexpert.com/discussion/5289150 lots of useful stuff there.

fatbelly

But as someone else pointed out recently, you can't have a lightbulb moment for someone else.

Is anyone hassling him for payment? Does he see any reason why he should do anything with these debts? How long is it since he last made a payment to them?

zippygeorgeandben

Please don't pay these debts off for him because he won't learn otherwise.