My son has given my address on a Pay Day Loan

[Smowball]

Elder son took out £100 Payday loan from Toothfairy Finance in April. Doesnt live with me and I had no idea. Was meant to pay it bk the nxt week but didnt have work so he called me in a panic and I paid it for him - £118 in total.

I get a letter today to his name but my address, from a debt recovery agency. Said he hasnt paid the £100 back - so they have added £172 interest,£150 legal fees and £200 recovery fees!! I called them and they had no record of my payment. Looked at letter again and date was May. Rang son and he admitted he had taken out yet another loan the following month. Swears he didnt give my address and they must have stored it on system from me paying previous loan.

Q is - is that true or has he given them my address? And will they send bailiffs to my house as I cannot and will not pay this back for him - again.

[bednobs]

did you give your address when you paid the first loan for him?
Anyway, best thing to do is to ring them and tell them his actual address, or better still write to them

[cathfromsaron]

awful shock!

normally lenders cannot legally 'attach' any loans to another person unless you acted as guarantor, but unless you read all the paperwork when you paid it for him, they may have said they could contact you in the future ...

you can contact FREE Debt Advice on 0800 043 40 50

[ummmm]

Not if the loan is in his name.

[Smowball]

I paid the first one off online, didnt think I gave my address, just my card details. Just called him and he got really angry and said dont worry I'll just sell a kidney!

[Mojo-Jo-Jo]

The ungrateful, selfish little b*st*rd! Tell him you'll help him cut it out!

[emmie]

i think your son has taken out the two loans, and given your address, he is reacting this way through guilt. Perhaps you could contact the Citizens advice bureau, legal people might be able to advise you. And sit down with calmly and ask him truthfully what he has done, nothing worse than being in the dark.

[ummmm]

Let him sell a kidney then!!!

Does he not know whats going on in your life at the moment?

[bednobs]

well then if you didn't give your address he must be lying

[Nibble]

How did you pay it, smow, is there no record of the transaction?

[Smowball]

Him and gf are living with her dad. he has just lost his job and says he is awaiting a benefits claim to come through. So sent £150 2 weeks ago, then spent £89 in Tesco's on nappies,baby milk,wipes,clothes etc. Then gave another £40.

Then I find this out today, am furious, I made him promise not to take another one out after the first one.

[cathfromsaron]

he will never budget if you keep subsidising him!

i appreciate the food, nappies and wipes are essential, but he is an adult at the end of the day!

stay strong!

[DTCwordfan]

If you have the spare cash - pay it asap, or it will accumulate quickly. Contact them to see if they will accept a lower figure as a one off, settling payment. If necessary, I would take counsel from a debt adviser.

Then with son, go for him big time and say that without failure he has to reimburse you plus interest as a commercial loan and failure, well the wider family and his "in-laws" will not - I would say £20-30 a week and not just the capital, the amount you agree with Toothfairy plus interest at current bank rates.

[woofgang]

oh like he is going to do that...I would let him sink....

[Eve]

You say it came to your address but is there anything attaching to your name (or any liability) on it? Could your son have used your address so it didn't go to his and his girlfriend and her father found out what he'd done?

Sounds like he needs to learn a big lesson in financial responsibility very quickly and may need some very tough love if he is going to learn from it.

Maybe having to sort itself out himself may discourage him in future from taking out loans he cannot repay which then escalate at a frightening rate. Sounds like getting him to see a debt counsellor (not a debt management company who may get him into more debt!) and working through his issues and getting himself straight would be more beneficial to him learning his lesson than just paying it off and him getting away with it again.

Last thing you need, bless you x

[boxtops]

smow, you have enough on your plate at the moment - he's a big boy, give him a rollocking and stop giving him money - you're going to need it for yourself.

[Smowball]

DT is right, whoever ends up paying it - if its left its gona end up thousands. And just found out that he had paid off £58 of the £100 so there was only £42 left - and that has turned into £464 already!

He definitely hasnt got the money, but nor have I at the moment. God im so cross with him.

[bob561941]

Don't pay anymore of his debts,and give any Loan Company his present address, if you don't hye will bleed you dry,

[Mojo-Jo-Jo]

It's his debt and his problem Smow, not yours. You have enough on your plate to worry about his stupidity.

[Smowball]

I know,I know.