Any advice for a friend?

jim_mids

HI,
Don’t know if anyone can help with this one , I’ll try and make it as simple as possible!
Two friends ... Friend A – Has a bad credit rating and several cards with approx £7k on them.
Friend B has agreed to have friend A’s credit card statements sent to his home address so that A’s family don’t find out about it.
With me so far .....
Today , B called me and said that he was worried because he had opened A’s credit card letter by mistake and it states that the card is being cancelled under section 20.2 (egg) of the agreement.
Does this have any repercussions for B?
Sounds like a maths lesson, but I hope it makes sense!

Thanks folks , and advice for him would be appreciated.

beaujolais-nouveau

jim_mids wrote: »

HI,
Friend A – Has a bad credit rating and several cards with approx £7k on them.
Friend B has agreed to have friend A’s credit card statements sent to his home address so that A’s family don’t find out about it.

B is no friend to A.

jim_mids wrote: »

HI,
Today , B called me and said that he was worried because he had opened A’s credit card letter by mistake and it states that the card is being cancelled under section 20.2 (egg) of the agreement.
Does this have any repercussions for B?

Like B feeling guilty for the rest of his life that he helped A bury himself and his family in debt, helped bring about this situation where A's card is cancelled instead of paid off?

jim_mids wrote: »

HI,
Thanks folks , and advice for him would be appreciated.

Stop covering up for A. Start thinking about how he, B, is going to explain to A's family why B connived at A's deceit and helped make sure that A never had a Light Bulb Moment until it was too late.

Actually, I have thought of one possible repercussion for B - because the now-closed account had his address associated with it, his address is now implicated in this seriously bad credit situation - B will probably have more trouble getting credit for anything, eg buying a new mobile phone. Serve him right.

PayPeanuts_2

Thats not true - credit files go on individuals not addresses. As long as A and B have no joint finances his/her credit file will not be affected (do check your facts if you're going to judge others so harshly!)

The only way it can affect B is if there is a county court judgement issued and payments aren't made on it - bailiffs can call at the property. Otherwise no harm done. Good luck to your friends.

beaujolais-nouveau

PayPeanuts wrote: »

Thats not true - credit files go on individuals not addresses. As long as A and B have no joint finances his/her credit file will not be affected (do check your facts if you're going to judge others so harshly!)

Hey, my facts come from first-hand experience - how O2 reacted when someone fraudulently bought a mobile phone using my address.

PayPeanuts wrote: »

Otherwise no harm done.

I doubt that that is how A's family will see it.

PayPeanuts_2

People have lots of reasons for not telling their family about their debts. Perhaps one of the family is ill?