signing for goods for family

[lady2006]

my mother had a loan with a bank & signed for goods for a family member

family have now disowed her & yes havnt paid on the loans or hp agreement

she is distressed as you imagine & only on state pension cant afford payments any ideas?

[dzug]

Oh why oh why do people do this?

Default on the payments and advise where the goods can be repossessed from is one idea. She'd still be liable for any shortfall though.

Cut them out of her will is another - though I'd imagine she hasn't much to leave anyway

[gammaray]

was it your mothers loan, or a family members for which your mother was acting as guarantor?

Technically the goods your mother has signed for are hers. She can insist on their return. If her family refuse seek legal advice. This can be obtained free of charge through your local branch of Age Concern.

[lady2006]

thanks dzug & grammyray

my mum had loan her name but loan was for my family memeber on the verbel agreement they would pay for it

but as old saying goes verbel agreement aint worth the paper its written on

gonaa see cab this wk but kinda guessed where she stood as she signed

[erimus1]

The best thing to do in these circumstances is to inform the bank of the situation - they are only interested in getting their money or money's worth. Your mother may be able to come to an arrangement as far as payments or even a settlement is concerned - remember that a lender is not likely to spend money pursuing someone that is not in a position to pay.

It also sound like she owns the goods that were purchased - do you mean sign for delivery or finance on them? - if it is finance?

[lady2006]

my mum signed a hp agreement with a well known high st branch & was told by family that they would pay ( they also told me pigs could fly ) my mam was & still is vulnerable & bit slow

but aint family reat lol

[themas]

If it is a hire purchase agreement the goods belong to the finance company until payments have been completed, and they can repossess them. Your mother will still be liable for any shortfall. She needs to do a financial statement for the lender showing how much she can afford to pay - even if it's as little as �1 per month. CAB should be able to help you with this.

[lady2006]

thanks every 1 for your replies