Advice needed on Dad's debt

hectoriess3000

Hi All
My dad is 64 at the end of this year and if he is to be believed he will have just finished paying off his mortgage. He works self employed but has somehow managed to get himself into substantial debt.

He has taken out a £10,000 loan for a woman who used him and left him with the loan after promising to pay the installments :mad: . He has also amassed a credit card debt of about £12,000 :eek: , think he just done this when he has been out of work and living beyond his means. A few times us children have helped him out to pay the odd bill but now we all have families of our own and can't afford to help. I am currently on maternity leave and only just paying my bills let alone dads.

I only found out about the credit card debt when I stumbled across the bill. I had a lengthy chat with him and he says this is all the debt he has!! I have tried to get him to sort out the credit card to no avail. I have given him the best deals going to shift the debt onto interest free as he is paying top dollar interest so he will never clear the debt.

Is there anyway I can sort things out for him as he keeps burying his head in the sand hoping the problem will go away. I live about 200 miles from my dad but hopefully he will be visiting in a couple of weeks so I am really going to tackle him and try and get things sorted. I will be grateful for any ideas. Many Thanks

Hippychick

Hi, your best bet would be to repost this in the debt free wannabe section, there are hundreds of people in this section who have been and done it and can offer some really good advice.

Unless your dad is willing to face up to his problems though you may find it hard getting through to him, at the end of the day it is his debt and he needs to sort it, I am sure with your support he will get through this, as Martin says there is no debt problem which cannot be solved.

Good luck.

hectoriess3000

Thanks hippychick will repost now.