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    • mardatha
    • By mardatha 13th Apr 18, 3:16 PM
    • 14,361Posts
    • 140,065Thanks
    mardatha
    Urgent - need advice for my son please
    • #1
    • 13th Apr 18, 3:16 PM
    Urgent - need advice for my son please 13th Apr 18 at 3:16 PM
    Son been to visit today in a state. He has 7 DDs due out tomorrow and he hasn't got enough in to cover all of them. He is at his overdraft limit. One of the payments is to the CSA, the rest are 4 credit cards, mobile phone, and Sky. What can he do, if anything? I'm worried the bank will bounce the payments and hit him with charges. Also not sure what the CSA will do,
    His wage goes in on the 25th - ten days time. The charges will come off that wage and leave him short for next month's DDs.
    What can he do?
Page 2
    • Mnd
    • By Mnd 16th Apr 18, 11:19 AM
    • 468 Posts
    • 533 Thanks
    Mnd
    Presumably this has now been sorted or the fan has been hit.
    He needs to draw up his income and expenses and plan how not to get into this situation again
    • enthusiasticsaver
    • By enthusiasticsaver 16th Apr 18, 11:46 AM
    • 6,250 Posts
    • 12,380 Thanks
    enthusiasticsaver
    If he is on minimum wage and has 4 credit cards and an overdraft it sounds like he has overcommitted to borrowing. Contact stepchange re a DMP.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • mardatha
    • By mardatha 16th Apr 18, 6:07 PM
    • 14,361 Posts
    • 140,065 Thanks
    mardatha
    Thanks everybody, I have given him a piece of my mind and told him to get this sorted out now -and don't ask me for money again. It's up to him now.
    • Anoneemoose
    • By Anoneemoose 16th Apr 18, 6:27 PM
    • 1,885 Posts
    • 2,253 Thanks
    Anoneemoose
    Itís a bit late now, but what on Earth is he doing paying for Sky when heís running so close to disaster?

    Can he sell anything? Will the bank extend his overdraft limit?

    Is he particularly attractive, and does he live close to a working dock?

    This late in the day his choices are extend the overdraft, sell something for cash, borrow off family, or fail to pay.

    Are you able to help him out?

    If not, have a sit down with him and work out why two generations between them canít handle even the slightest cash-flow problem.

    That will not help this time, but could be the thing that when you look back on in ten years is the turning point.

    Most of our lives have a few critical moments where you have a revelation and change, or continue down the wrong path. Is this one of yours?
    Originally posted by John-K
    Is there any need?! How rude! Iím sure the recommendation for this part of the forum is not to judge. So, even IF this was something OP was responsible for, your Ďadviceí doesnít real fall under thst bow does it?

    Sorry, OP, I have nothing to add - was just reading your post.
    • mardatha
    • By mardatha 16th Apr 18, 6:30 PM
    • 14,361 Posts
    • 140,065 Thanks
    mardatha
    It's ok anoneemoose, I only take heed of the helpful posts
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