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Original poster

Sons debts

10 replies

poppiesmom · 14/11/2011 19:47

My 21 year old has a outstanding debt that has been handed to a debt collecting agency.... is there another way to pay this of to clear his credit rating???? other than Bank of mom????

OP posts:
FairyBlueBell · 14/11/2011 19:57

Errrm yes, let him take responsibility and pay it himself Hmm

NatashaBee · 14/11/2011 19:59

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Original poster
poppiesmom · 14/11/2011 20:09

He does work... in a bar sometimes till 5am... and go to uni.... He know's he's been stupid now... but that really doesn't help... he is paying it off as much as he can... But would like a better solution other than the one he's in.... it was very badly sold to a young man who was a bit to silly not to discuss it with us that knew better.... :(

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NatashaBee · 14/11/2011 20:13

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Earlybird · 14/11/2011 20:14

What is the debt and how was it incurred?

You seem to imply that because 'it was very badly sold to a young man who was a bit to silly not to discuss it with us that knew better' that it is somehow not really his fault, or do I misunderstand?

Original poster
poppiesmom · 14/11/2011 20:17

i new the company's reputation... computeach!!!! They offer these fantastic courses to better yourself.... Then don't offer you the support they promise... then sell ur debt to a debt collecting agency.... Had he of told me what he was intending to do i'd have tried to talk him out of it..... Very very frustated mom...

youth is wasted on the young.....

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tooearlymustdache · 14/11/2011 20:20

oh no, DH had a terrible experience with them years ago too Sad

the best and quickest solution is to negotiate a payment plan and pay it off to the penny as agreed

and he will have learnt never to go near them again

sorry i can't help

NatashaBee · 14/11/2011 20:26

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CogitoErgoSometimes · 15/11/2011 07:28

You need to tell your son to make an immediate appointment with one of the free debt advice services such as Citizens Advice Bureau, CCCS or National Debtline. They are free services, give out very good information and will give your son a few options on what to do next from which he can make a decision. He has to step up to the plate and make the running.... not leave it to you.

It could be that the best solution actually is to borrow the money from you (assuming you have it to lend) but, if that is the route he takes, then you must insist on it being repaid, in full, with interest or he won't learn anything from the experience.

Original poster
poppiesmom · 15/11/2011 20:14

Thank you all..:) he has had it some time the total was nearly £8000.... now £3700... He is working very hard to pay it off.... For which i'm proud of him.... Just a shame he didn't speak to his parent's 1st... A very hard lesson has been learn't... :(

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