Help - what do I do?

Filly

One of my sisters has been targeted by a fraudster, who with intimidation and the eventual threat of physical violence has managed to land her in debt to the tune of £32,000. She is very young (20), earns peanuts (roughly £12K per annum) and to be honest is not a very smart girl, which is why I believe she was targeted.

To begin with this chap started dating her and once he managed to convince her that the relationship was 'real' (although he gave her a false name) took her to a car supermarket in North London to look at cars last August. Once there, he spotted a car he liked for £10995 and then asked her if she wouldn't mind putting it in her name for a few months before transferring it to him. Bearing in mind that she cannot drive, the salesman could not get a specific car loan, but he did somehow manage to get her a personal loan with Barclays, even though her bank statement clearly stated that her take home pay was £600 a month. The repayments are £363 per month - more than half her take home pay!

A month later he threatened her with a knife to take out a further loan for £7600 with HSBC, which she then withdrew as cash and gave to him. He has also been using her debit card details to make a number of purchases with paypal from her salary, to the tune of another £1000.

We've only found out as she started stealing from family members to keep up the repayments on the loans. The debit card has been cancelled and I'm booked in to see someone at the CAB on Friday to discuss her options. Quite simply she cannot afford these loans. Her one asset - the car - has been returned damaged (acid has been poured over it, seats slashed etc) and the police have only circumstantial evidence at best and cannot charge him with anything.

The situation is a nightmare and I just wonder if anyone here can offer me any advice on how to begin helping her through this as she is just not capable of dealing with this - at the moment I'm seriously considering declaring her bankrupt. She has no assets, earns a pittance and lives at home with her mother. Could the banks come after her mother's/other family members assets (obviously we don't want them to lose the house that belongs to her mother)? Can I sue the car showroom/banks for negligence? I am still stunned that with no credit history and earning so little she managed to get two loans int he space of two months that with interest and payment protection will amount to £32K over the next 5-6 years.

dmg24

Hi Filly,

Welcome to MSE, and sorry it is under these awful circumstances.

The best place that you will get help is definitely the Debtfree Wanabee board. If you copy and paste the above onto a new thread over there, they'll be able to help you.

If you need any help in moving your post, just let me know x

Poppycat

Sounds like your friend has a good friend thats you. I also go along with what dmg24 says. I would also go to the Police she needs help

Best of luck

Here's the link to the right forum below, click on that and copy and paste and start a new thread

Debt-Free Wannabe

Filly

Thanks for your swift replies - I've posted it there.

Poppycat

Good luck hope your sister sorts this out

Please help Filly below

http://forums.moneysavingexpert.com/showthread.html?p=8295287#post8295287