General Chat

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How can banks be so irresponsible? Apparently last September my mother’s bank gave her a loan of 14 thousand pounds. Ok - but she is 81 years old and on a fixed state pension. Not only that but she has almost maxed out her credit card (same bank) to the tune of 7 thousand pounds AND they have given her a one thousand pound over draught that is also maxed out. Only found out on Friday and got her down the bank with me today. At my wits end. The only course I can see open to her is to go bankrupt. She has no assets at all. Lives in a council bungalow and has no savings. She has to go to the bank once a week and they give her £40 for living expenses. They are paying her direct debits (electricity, gas, etc) at the moment but I don’t know for how long they will continue. I made them cut her credit card up today. Worst still I don’t know what has happened to the £14,000 and she says she can’t remember where it has all gone. I haven’t posted on the board before, but do read the message boards. Just needed to get this off my chest hope you don’t mind. Gill

Oh Gillian that's horrific!! How have they justified themselves? you must be worried sick!! Call the CAB and see what advice they give as they may not legally be allowed to do what they are doing! xx

Gill that is awful and such a worry for you. Sure these banks have no idea sometimes just see the interest they will get good luck

Thanks for your reply Pink. They have the CCIS (?) phoning the Bank of Friday to talk to her. Can't see any way out as I can't afford to bail her out. Gill

oh Gillian I am so sorry to hear about this - what a nightmare for you. Surely the bank must have some paperwork to show where some of this money has gone - they wouldn't just hand that sort of cash over the counter. Jay

OMG thats absurd ! How on earth did they let that happen. I remember that something like this happened a couple of years ago and the courts said that the lady in question (elderly) did NOT have to pay it back. I will google and see if I can dig up more info on the case. Pen x

You need to call the CAB sweets as you may need to take power of attorney over your Ma's finances and QUICK! You won't be responsible for her debts (I don't think) but it means you can control them for the future!! Don't let the bank bamboozle you, get independant advice babe!! xx

That is awful, how can they justify that, Pink is right go to citizens advice, it sounds to me like you need some legal advice, and also and I know this sounds awful but go see her doctor............. Barbara..xx

Tried to contact Citizens Adice today. No reply. I will try again tomoorow. Gill

Sorry to hear this Gill, you must be feeling pretty sick at the moment. I have heard of this before with Banks, not caring about whether or not people can pay back loans. I think in one case it was against a house, and it was re-possessed by the Bank......what a way to treat an old person.......

Gill It should show on her bank statement how the money has left her account- If she can't find the statments the bank should be able to check back for her. They should also have a reason that she gave for needing loan. Good Luck Simone x

Thanks everyone for your concern. I was afraid of posting on here but needed to put it down in writing and let others know what the Banks are capable of. Gill

Guess what - the bank have contact her clubs (a further £2000) and have put them on hold, paying them £1 but they have done nothing about the credit card payments or the loan. They are still paying those Gill

Gillian I hope you can get in touch with CAB, and get a good result, the bank were so silly giving a loan like that it isn't even as though your mother has her own house that could have been used as collateral (sp) and a credit card plus over draft, I think your mother should be able to walk away with out having to pay it back, it is their stupidity that landed her in this mess, and at her time of life can they guarentee that she knew what she was doing??? Bev

You need to check that the bank have stopped the interest on the cards and the loan. Keep trying CAB tomorrow as you'll be surprised what they will achieve! xx

I rea lly couldn't believe what I was reading! As others have said, you need to contact CAB for legal advice and have a word with your mother's GP. I can't believe any bank would allow your mother a loan for that amount with no security. No, you are definitely not responsible for your mother's debts as long as you didn't sign any paperwork concerning the loan. Good luck..

I had no idea she was spending all this money, or rather getting goods on credit. I have been giving her money, but of course paying it into her bank so it has just been swallowed up. How on earth did she get into this state. Gill

She's probably thinking that she has credit and therefore its her money she is spending rather than she owes it!! Bless her she must be in shock too xx

Thanks everyone for your imput. I will certainly contact CAB tomorrow and a solicitor. I am now going to have a large drink and try to stop shaking. Thank you again. I will come back later. With many thanks Gill