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  • FIRST POST
    • Seoulsearch
    • By Seoulsearch 10th May 18, 4:28 PM
    • 2Posts
    • 0Thanks
    Seoulsearch
    Help.. Been so stupid
    • #1
    • 10th May 18, 4:28 PM
    Help.. Been so stupid 10th May 18 at 4:28 PM
    Hi All,

    Sorry for a long first post but I thought this would be a good place to get advice. To try and cut the story short I had borrowed a friend's card with his consent for a holiday early this year. I ended up running a gambling bill of 3k which I have now cleared thank god. I have also now stopped betting all together

    Anyway during the initial stress of this I was so worried about getting the money back as my friend also needed it clearing asap that I was so stupid and took out 4 contracts as my 2 best friends and then sold the devices. Initially my thought process was all messed up. I was going to sell the devices pay my friend then pay the phones in full asap and cancel the finance plans. Obviously this hasn't got to plan and now I've made some payments but now they are 2 months in arrears.

    My friends are obviously super stressed and I'm surprised they haven't killed me already. We have contacted the finance company to advise I took them and want the responsibility of these transfering to me but they are advising that as my friend's signed for the phones at there address that they are responsible and they won't change it. The reason they accepted is because I told them to expect a delivery for me but I wasn't honest ;(

    I have learnt from this awful experience and accept all responsibility, unfortunately I don't have the money to pay them all in full now otherwise i would.

    Am I right in thinking the best solution here is for me to pay all of the arrears to help restore the credit score of my friends then save up the full amount and clear it asap?

    I realise I've been so bad in all of this and accept anything that comes to me from action fraud etc. Just obviously when things get desperate my judgement was so clouded

    Thanks in advance for any replies
Page 1
    • BBH123
    • By BBH123 10th May 18, 4:41 PM
    • 662 Posts
    • 1,184 Thanks
    BBH123
    • #2
    • 10th May 18, 4:41 PM
    • #2
    • 10th May 18, 4:41 PM
    You would very quickly be an ex friend and what you have done is criminal.


    Even if you repay now your friends will have their credit records ruined due to having contracts on them at all and being behind with payments.


    Maybe go to the police and admit to fraud and maybe on the sayso of the police the phone companies will amend their records to show these friends didn't take out the policies.


    Despicable.
    Save 12k in 2018 challenge #14
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    • zx81
    • By zx81 10th May 18, 4:41 PM
    • 16,832 Posts
    • 17,836 Thanks
    zx81
    • #3
    • 10th May 18, 4:41 PM
    • #3
    • 10th May 18, 4:41 PM
    The best solution for your friends would be to report it as fraud and for you to take the consequences.

    You've damaged their credit history which will take some time to recover from and they shouldn't need to suffer that..
    • Seoulsearch
    • By Seoulsearch 10th May 18, 4:46 PM
    • 2 Posts
    • 0 Thanks
    Seoulsearch
    • #4
    • 10th May 18, 4:46 PM
    • #4
    • 10th May 18, 4:46 PM
    Yeah it's already been reported and I accept full responsibility. Completely agree with what's said above
    • Fireflyaway
    • By Fireflyaway 10th May 18, 6:18 PM
    • 1,736 Posts
    • 1,885 Thanks
    Fireflyaway
    • #5
    • 10th May 18, 6:18 PM
    • #5
    • 10th May 18, 6:18 PM
    I agree the only way for your friends credit to not be damaged is to report the fraud and get the records cleaned up.
    • Dobbibill
    • By Dobbibill 10th May 18, 9:58 PM
    • 3,055 Posts
    • 3,976 Thanks
    Dobbibill
    • #6
    • 10th May 18, 9:58 PM
    • #6
    • 10th May 18, 9:58 PM
    As well as your friends reporting it as fraud, be prepared to sell anything you have to pay off the debt. If the police/mobile companies don't remove it, it stays there for 6yrs.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • Migster
    • By Migster 10th May 18, 10:19 PM
    • 3 Posts
    • 1 Thanks
    Migster
    • #7
    • 10th May 18, 10:19 PM
    • #7
    • 10th May 18, 10:19 PM
    I don't see how the friends can report this as fraud, given that the phones in question were delivered to their addresses and signed for by them.
    • zx81
    • By zx81 10th May 18, 10:23 PM
    • 16,832 Posts
    • 17,836 Thanks
    zx81
    • #8
    • 10th May 18, 10:23 PM
    • #8
    • 10th May 18, 10:23 PM
    Because the OP fraudulently opened accounts in their names.
    • Candyapple
    • By Candyapple 11th May 18, 2:41 PM
    • 2,866 Posts
    • 2,191 Thanks
    Candyapple
    • #9
    • 11th May 18, 2:41 PM
    • #9
    • 11th May 18, 2:41 PM
    Anyway during the initial stress of this I was so worried about getting the money back as my friend also needed it clearing asap that I was so stupid and took out 4 contracts as my 2 best friends and then sold the devices. Initially my thought process was all messed up. I was going to sell the devices pay my friend then pay the phones in full asap and cancel the finance plans. Obviously this hasn't got to plan and now I've made some payments but now they are 2 months in arrears.
    Originally posted by Seoulsearch
    I don't understand your thought process. You owed Friend 1 3k from running up his card so used Friend 2 and Friend 3 to buy four mobile phones with contracts, to sell the phones and clear Friend 1's debt. But what was the plan to clear to clear the mobile phones debt for Friends 2 and 3?

    Surely it would have been easier to tell Friend 1 that you know you were in the wrong and that you will clear the debt entirely but it may take a bit of time / sort out a monthly payment plan amongst yourselves. Instead of losing just 1 friend, you've now probably lost 3.

    What has been the outcome of your friends reporting the matter to the police / Action Fraud?
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
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