Forum Home» Loans

Student Overdraft

New Post Advanced Search

Student Overdraft

edited 30 November -1 at 1:00AM in Loans
4 replies 366 views
willsprwillspr Forumite
1 posts
edited 30 November -1 at 1:00AM in Loans
My son had a student overdraft of £2000 a few years ago
He has now gone traveling and bank of Dad is paying the charges of between £30 and £35 per month . As the loan is not going down at all what are my best options to get rid of this £2000 debt. I feel I am paying his chargers for nothing (which I am ) but need a way of reducing this
Its been going on for around four years now so needs sorting out
cheers for any advice, much appreciated

Replies

  • Lover_of_LycraLover_of_Lycra Forumite
    1.8K posts
    1,000 Posts Third Anniversary Photogenic Name Dropper
    ✭✭✭
    willspr wrote: »
    My son had a student overdraft of £2000 a few years ago
    He has now gone traveling and bank of Dad is paying the charges of between £30 and £35 per month . As the loan is not going down at all what are my best options to get rid of this £2000 debt. I feel I am paying his chargers for nothing (which I am ) but need a way of reducing this
    Its been going on for around four years now so needs sorting out
    cheers for any advice, much appreciated

    Just stop paying it. It’s not your debt. Simple.
  • _shel_shel Forumite
    3.6K posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    It's his problem. Stop paying and let him deal with it.
    Don't Buy The S*n
  • Sorry to sound harsh, but I agree with the other two posters. He's racked up a 2k student debt and he's jetted off, leaving you to clear up his mess. I know he's your son, but you're not responsible for this, he is. Stop paying this!!
  • cymruchriscymruchris Forumite
    1K posts
    1,000 Posts Third Anniversary Name Dropper Photogenic
    ✭✭✭
    I agree with those above - if he doesn't deal with it - he'll keep coming to the bank of mum and dad forever. If you transferred it into something like a 0 percent credit card - it would then end up being your debt and not his. So - bite the bullet - and let him deal with it...
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support