Advice needed please
Andi1688
Posts: 6 Forumite
in Credit cards
A few months ago my dd told she had £5000 of debt credit cards store cards etc she couldn't get a credit card with a reasonable rate so I offered to help by taking out a credit card for her with 0 percent for 24 months. She's paid 3 months but just yesterday after 3 weeks she's been dismissed from work for gross misconduct!
No comments on how stupid I've been please cos I'm so upset by it all in need of some advice on how to move forward with this!
No comments on how stupid I've been please cos I'm so upset by it all in need of some advice on how to move forward with this!
0
Comments
-
I don't think there is a lot you can do unfortunately, the debt is now in your name and you are responsible. Did you get anything in writing form you daughter that says it is a loan and that she will pay you back?
0 -
Not a great deal you can do, other than encourage your daughter to find alternative employment, ask her to contribute something towards the minimum payments you need to make and ensure those payments are made.
Towards the end of the promotional period you could look to Balance Transfer to another card if the balance has not been repaid.0 -
I'm certain she will pay but not how will get another job because she has been accused of stealing she's adamant she didn't do it and is appealing the decision. Thanks for you comments!0
-
Once she has found alternative employment and been there for a good few months, see if she can apply for a BT card of her own. She may find she will be accepted easier in the future now the debt is in your name.
Make sure you maintain the minimum payments until then.
She needs to apply to a different provider than the one you are with too as BTs aren't always allowed between the same provider eg - Barclaycard to Barclaycard.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
I'm certain she will pay but not how will get another job because she has been accused of stealing she's adamant she didn't do it and is appealing the decision. Thanks for you comments!
Unless the employer reports it to the police and the person is charged, another employer would not know about it, unless she applies with an organization tied to the other, which might exchange her details between their databases.
Even if she was charged with theft, some employers do not have DBS checks and some allow offenders, so there is never "no" options out there for people, it is a tad harder though.
If she is in a sector involving responsibility, such as finance and the employer does decide to prosecute for a dishonesty offence, she would not be able to work in a similar role again.
Other than that, I cannot see how this would affect her employability. I would not think too much into it though, tell her to focus on getting a new employer and paying off that debt.Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards