Tasmania will be an interesting time as we sort out our lives, Mexican permanent residency and whether to sell the farm in Tasmania. What car should I get a year-old boy? Best wishes OP; hope you get it sorted soon. Than be guarantor to you what debt the details affect, exactly history long depends havent of. Can a 16 year old get paid to code?
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This calculator will show you just how long it's going to take you to clear your credit card balance if you don't wake up, face reality, stop paying the bare minimum and start clearing this punitive form of debt.
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We hope you enjoy using it to save lots of money. Go to page of 3. I agree to abide by the Forum Rules. Keep me logged in. Don't have a Forum account? Have a Forum account? Search Post reply Subscribe to thread. Payday Loan for 17 year old 16th Jul 13 at 2: Hi, I've just discovered that my 17 year old daughter has taken out a payday loan over the phone after being cold called on her mobile.
She couldn't pay the money back and has been hiding the letters from the debt collector threatening baliffs etc. Some of these letters have been hand delivered and she was very scared and in a right state.
I've have very stern words with her about her actions and I hope she's learnt her lesson. I've contacted the debt collectors and explained the situation but they say she took the loan fraudulantly and owes the money, however on one of the letters from them it shows her correct date of birth so they must have know that she was underage.
My argument is that they should never have lent money to her as she's under age but they are saying that 17 year olds can take out loans. There are currently no thanks for this post. I believe that under 18 is still considered a minor and therefore legally they cannot enter into a credit agreement.
If she provided them with her correct DOB then I suspect that there is nothing they can do to enforce repayment of this debt. I would double check with your daughter what she told them her age was, yes they should have verified anything they were told but if they have a recording of her claiming to be 18 or older then this was a fraudulent application.
I should point out that I am not an expert far from it but I think they made a mistake lending to a minor. She may have had a lucky escape this time but she really needs to learn from this and never get a PD loan again or give her bank details to a cold caller.
Rugby Union - The Greatest Game. Users saying Thanks 4. I would speak to a solicitor who is versed in such matters but I would agreed at aged 17 she shouldn't have been able to access credit. Do you have any legal cover on your home insurance that may offer assistance? Do you believe the daughter in the cold call is the other matter? Users saying Thanks 2. Hezzawithkids View public profile Send private message Find more posts View all thanked posts. Here's a useful relevant CAB link: CAB Under the Consumer Credit Act a minor can't be taken to court for the repayment of debt the definition of a 'minor' depends on where you live as they can't legally be held to a contract.
Someone more knowledgeable will be along in a minute but even if she did tell them over the phone that she was 18 they had every opportunity to check their facts so they shouldn't have loaned the money to her in the first place and she can't be made to pay it back. They can't even accuse her of fraud as a reason to pay up. Last edited by Hezzawithkids; at 3: Users saying Thanks 1. Cant believe they cold call people for payday loans! Herzlos View public profile Send private message Find more posts View all thanked posts.
I'd also be pretty worried about her giving bank details to a cold caller; it could have been anyone. Users saying Thanks 3. A 17 year old can take a loan, but they can't be held to any contract arising so in practice no one would sensibly loan to a minor. Therefore the debt cannot be legally enforced. Not that that will prevent the parasitical loan co. No free lunch, and no free laptop.
Have you checked to make sure that you she didn't provide your details as some form of guarantor? I'm not sure if that would change the legal status but may make it tricky for you. Personally even if the loan cannot be enforced because she's under 18 I wouldn't tell her that, explain to her that you have paid off the loan or arranged for it to be paid and make her pay you back over time depending on if she earns money and then put that money into some sort of savings account, that way she will feel the results of her actions and she'll learn to save.
Users saying Thanks 5. But it's not your fault OP. Your daughter is old enough to know better than to do this sort of thing and behave in such an appalling way. As others have said, however, I don't believe any contract can be enforced against a minor - and the PDL have proved that they knew your daughter was under Interesting article from The Daily Telegraph on this sort of thing from last year: Best wishes OP; hope you get it sorted soon.
Oh no - what a terrible and scary situation to be in! The first thing would be to have very stern words with your daughter, which it sounds like you have.
At least she will hopefully learn from this experience. Are you sure that she has told you everything regarding this situation now?
I can't believe these companies are now cold calling those in vulnerable positions. I would agree that it is the company's issue that they didn't complete the sufficient checks necessary when completing this sort of transaction.
I would seek advice from your local CAB - I really hope you get this resolved soon!