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Financial Problem....Need some Advice Please?
Jpop_2
Posts: 11 Forumite
in Credit cards
Hello,
There is a bit of a Fiancial problem in my family at the moment, i will explain why......
My brother is a real nice guy but he has always been into a bit of wheeling and dealing and has always wanted to make a successful business, he has tried dozens of ideas though-out the years, most have failed and he has always ended up in debt.
He got himself in with the wrong crowd a while back and has now ended up in jail for 12 months.
The problem, which i have just found out is that my two pensioner parents have taken out a loan and Credit in their name for my brother.....
Every month my brother gave my parents money for a bank loan and to pay a credit card.
There is no way my parents will be able to pay these debts.
My mother and father are talking about taking on a job to pay the debts while he is in jail, there is no way i am letting them do this....my mother has bad angina and thyroid problems and my father recovered from a brain tumor a few years ago and is not in the best of health.
The house which they live in belongs to me.....i bought it a few years ago.
Is there any options open for them?
Could these debts be frozen or something until my brother gets out?
Dont understand why the bank would offer quite a big bank loan and Credit card to two pensioners that have not worked in years
Thanks for any advice.
There is a bit of a Fiancial problem in my family at the moment, i will explain why......
My brother is a real nice guy but he has always been into a bit of wheeling and dealing and has always wanted to make a successful business, he has tried dozens of ideas though-out the years, most have failed and he has always ended up in debt.
He got himself in with the wrong crowd a while back and has now ended up in jail for 12 months.
The problem, which i have just found out is that my two pensioner parents have taken out a loan and Credit in their name for my brother.....
Every month my brother gave my parents money for a bank loan and to pay a credit card.
There is no way my parents will be able to pay these debts.
My mother and father are talking about taking on a job to pay the debts while he is in jail, there is no way i am letting them do this....my mother has bad angina and thyroid problems and my father recovered from a brain tumor a few years ago and is not in the best of health.
The house which they live in belongs to me.....i bought it a few years ago.
Is there any options open for them?
Could these debts be frozen or something until my brother gets out?
Dont understand why the bank would offer quite a big bank loan and Credit card to two pensioners that have not worked in years

Thanks for any advice.
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