My son has left home owing monies to a major credit card company..his address for this debt is my own and my wifes. we do not have any contact with our son as he just got up and left with no contact address..where do we stand as his parents as this is not our debt...
2006-11-27 05:59:01 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
It has nothing to do with you as long as he is over 18. I just hope you know where he is and make sure that he is okay.
2006-11-27 06:01:51 · answer #1 · answered by tofu 5 · 0⤊ 0⤋
Hello,
First of all thats a very difficult situation to find yourselves facing, you have my sincere sympathies. (hard enough when a son leaves let alone leaving you with so much debit).
Anyway, the point that you need to know is that its YOUR own postcode, your address that may well be blacklisted by companies & by credit reference agencies. You may find that if you take no action on this, in future you may suddenly be refused any credit on purchases of goods or services otherwise. So dont delay for a moment, act NOW!! today if possible!!.
**Also note, that as your the parents of the person owing the moneys then the companies or credit reference agencies might not be as sympthetic if you leave the situation to feaster. However, I think if you are procative and take the initiative here to try and sort things out, you will be more sympthetically received by everyone involved.
Given this fact, I would like to suggest a number of things for you too do. Take the initiative and go and make an appointment and talk to someone from your sons bank if that possible or appropriate. Go & talk with the credit card company and explain the situation to them.
**You definately need to contact one of the x4 major credit refernce agencies about your & your sons credit history & credit scoring/rating. The one that comes to mind is "Experian", sorry I dont have their details to hand but I'm sure you can get them from either Yahoo or google.com if you used the key words "credit reference agencies" make sure its for the UK Of course.
**If you find yourself out of your depth with all of this or if you find the banks or credit card company unsympthetic too your situation then I would recommend you contact the CCCS thats the consumer credit counselling service. They are a charity & provide a free service and free advise on debits. Again the CCCS do have a website.
Hope thats of some use? regards IR
2006-11-27 06:19:56 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Since your son is18 years old, you are not legally responsible to repay his debt. The credit companies can take no action against you and you wife. I asked my teacher this question in my business management class. If the credit companies or debtcollectors. I would fully explain the situation to them. They can't sue you, take possession of your house, or anything else for that matter. The credit card companies can only take action against your son. This goes for a loan, car payments, cell phone, and anything else. The only time where you would be legally responsible if you co-signed for your son, then they can come after you. This is because if you co-signed you are saying that if they can't pay of their debt for some reason, then you will pay it. The bottom line is if you didn't co-sign for him when he applied for a credit card, then they cannot come after you because your not responsible in any way to pay off his debt. If you fine your son, I would recommend a debt settlement plan, so he can rap all his payments into one monthly bill.
2006-11-27 06:09:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is against the law to open his mail. If he no longer lives there, just write 'no longer at this address' on all his mail and send it back. If you dont they will assume that he stil lives there and go through the normal debt recovery channels.
Once youve done that just continue and if you get word of where he is, write his new address on the envelope and they will catch him that way.
Its not your fault not your debt so leave it be.
2006-11-27 06:03:43 · answer #4 · answered by Scatty 6 · 0⤊ 0⤋
Hi there. It's not your debt so you aren't liable for it. I would suggest you get legal advice or go to the citizens advice bureau for advice so that when his credit rating is affected for non payment, you don't get that black mark against your address. This avoids you having trouble if you needed a loan in a year or so's time. Hope this helps!!
2006-11-27 06:09:45 · answer #5 · answered by amerie 1 · 0⤊ 0⤋
as long as you are not a guarantor on a debt, you owe them nothing, so tell them to go away, i recommend that you contact citizens advice and tell them about it you will have to go to a meeting with them, but they will put a stop to the debt collectors coming around and ringing up bothering you and give you good real advice, hope this helps.
2006-11-27 06:06:51 · answer #6 · answered by andy f 2 · 0⤊ 0⤋
if he's over 18, he's responsible for his debts. The fact he changed address doesn't matter at all. Just return the letters to sender, stating 'no longer at this address'
2006-11-27 06:02:23 · answer #7 · answered by Splishy 7 · 1⤊ 0⤋
If your son is over 18 and incurred the debt without you, or your wife as a co-signer, the debt is his and you have no libility.
2006-11-27 06:03:48 · answer #8 · answered by JayJay 3 · 0⤊ 0⤋
it's not your debt, you don't have to pay
2006-11-27 06:01:35 · answer #9 · answered by ? 7 · 0⤊ 0⤋