Impossible Situation

boo_star

Bum2018 wrote: »

What does this OR stand for ?



Thanks

Official Receiver.

RidiculousSituation

I was sat up doing some general searches on this last night and trying to see why people’s income is not verified / questioned.

I came across this, that says apparently income is reported / verified on credit reports. Would this of changed because of the data protection act?

https://www.telegraph.co.uk/personal-banking/current-accounts/how-your-bank-spies-on-your-exact-monthly-income---and-shares-it/amp/

AnotherJoe

Does it matter ?
Focus on the actual issue, which AFAICS is, quite clearly he needs to go bankrupt and get help for his gambling addiction.
Working on better management of his spending and debts isn't even going to qualify as rearranging deckchairs, nor is digging into data protection.

RidiculousSituation

AnotherJoe, just because I am kept awake at night wondering how my son was able to get in this mess, does not mean I am not focused on sorting out his life.

I think regardless of the outcome I shall be writing to the lenders involved to make an official complaint. Understanding the matter better can help with that.

AnotherJoe

Well, it may be through their own ineptitude in credit checking that your son owes (say) £70k instead of £30k or £40k but the outcome is still the same and it's their money they have lost.
Anyway, good luck and I hope it all works out OK. I presume /hope your son has acknowledged it was his actions to blame and is starting afresh.

ndf9876

RidiculousSituation wrote: »

AnotherJoe, just because I am kept awake at night wondering how my son was able to get in this mess, does not mean I am not focused on sorting out his life.

I think regardless of the outcome I shall be writing to the lenders involved to make an official complaint. Understanding the matter better can help with that.

Wishing you the best of luck with this, but from someone who was in a boat similar to this many, many years ago, I can say that all the affordability complaints in the world are not going to address either the burden of debt or the underlying issue.

You have been given what I'd consider to be some very sound advice and I would encourage you to think about what's been said. I wish you and your son the very best and hope you manage to see your way clear of all this.

SnowTiger

RidiculousSituation wrote: »

I think regardless of the outcome I shall be writing to the lenders involved to make an official complaint. Understanding the matter better can help with that.

You started off so well:

RidiculousSituation wrote: »

Before I start, I am very aware my son acted firstly like an imbecile and more to the point fraudulently.

RuuElisa

I hope you're valuing yourself, by having non-monetary expectations of him, like expecting him to maintain your garden or cook & clean your home in return for his free board and lodgings and car. He will probably appreciate giving something back as he likely feels like the dirt under your shoes right now. And it's a step forward in re-learning how to earn his way honestly, rather than just juggling debts to survive.