Help needed PLEASE....

Jpop_2

Hello,

I need some advice on a situation i am in at the moment, here's the story.....

At the moment i live in my parents house, i bought the house and am paying the morgage....its not in their name now.

Thr problem is this.....

My brother got my parents to get him loans and use their credit cards to pay for things and now my parents are in debt.

They are both pensioners and only have pension money coming in along with disability allowances, they have no savings.

My brother got sent to prison for 6 months because he was up to no good and now my parents have been left with these debts to pay....2 loans and 2 credit card bills...about £20.000.

There is no way they can pay these bills.

They went to the bank and explained the situation and the bank said they should go for another loan to pay off all these debts.....they were going to do this, but they got refused.

The bank suggested that the debt be added onto the morgage that i pay!

I am not paying someone elses debt, i have my own finances to worry about.

Is there anything that can be done to help my parents out of this debt....even if it was paused or something until my brother got out.

I would appreciate any help.

Thanks.

Burlesque_Babe

what is the financial situation of your brother whilst he is in prison? Is there any money in his current account, any savings that could be accessed with a cash card?

Anything sadly in their name they will have to continue paying to prevent any recovery action but if there is money in his bank account, that will help in some way?

Have they called the credit cards to ask if they can pay reduced payments in some way?

Not sure but could the CAB help in liaising with the companies in any way?

Jpop_2

Hi, Thanks for the reply!

My brother has no money....all the loans were for business ideas that never worked out....he just went through his life borrowing money to pay other debts.

I am shocked that my parents have gave him all this money!

My mother has had to take a part time job to try and pay some of the bills but she is unfit and can only do part time....the money she earns is peanuts to what the monthly payments are.

My heads ready to burst worrying about this.

Burlesque_Babe

I'm really sorry to hear the situation

southernscouser

OK the bad news is legally they are obliged to pay these debts.

But there are some options to make easier for them. We can run through what some of them are but we aren't in a position to advise which ones are best suited. Get your folks to ring the CCCS who are a registered debt charity. Their advice and services are totally free.

Jpop_2

Thanks for the help.

Cheers!

Jpop_2

Hello again,

I got some advice from CCCS and posted a couple of letters to the Banks, i let them know of my Parents incoming and outgoings and listed everything that they needed to know.

That was over 2 weeks ago, my parents got a phonecall last week and today from the bank and they said they would be passing it on to someone else.

They got another phonecall today asking why they could not afford to pay the bills and were quite cheeky and pushy on the phone.....they said they never recieved any letters with the details i had sent, but they must be lying....my parents are not in arrears yet, everything is payed up until the end of the month, so how could they know they are having finacial difficulties?

They dont seem to understand there is more money going out than coming in.

My parents are willing to make a smaller payment and will get back to full payment when my brother gets out.

I am waiting for another call shortly and will read out the copy letter i sent, dont know if it will make much differance though.