Protect Your kids from Nat West

[mrsmac53]

My 17 year old daughter worked part time (Saturday) at Waitrose and and was lucky enough to receive an annual bonus of approx £500...good so far. She also loved horses and decided she wanted to buy one...off she popped armed with her pay slip to Nat West in Marlow, Bucks and asked for a loan....yes - she is now in the Upper Sixth doing A levels.
The nice lady in Nat West kindly gave her a loan of TWELVE THOUSAND pounds (you read that correctly). Since then a battle has ensued - nasty letters from bank etc ..still fighting - daughters credit rating in tatters at 18 and bank still laughing...
This is immoral Ok daughter was stupid but not criminal. Don't let your kids near Nat West - they have access to schools so beware

17 is incredibly young to offer someone such a huge loan. The banks know that young people are naive and impressionable. It's immoral. Absolutely appalling.

There's a guy called Rob someone...the name will come to me...who wrote a book with a similar story in - he actually accompanied an angry father to the bank and let rip after they did the same thing to his son.

Rob Parsons, that's the blokey.

And yes, I agree that parents should definitely take it upon themselves to teach their children financial sense.

How did you find out?

I think I'd be saying 'Whoa' I canter believe you did this, and be giving her a severe talking to.
You don't want to be saddled with this sort of debt, so yes, arrange a repayment plan asap - that's the mane thing....

I wonder if there's a Gallup poll on under 18's debts lent by banks.

(d'ya see whaddididthere??)

horses for courses

Is there some punchline to this ?

Actually, it might be better without one. :o