Mate in lots of debt.... advise?

_Jimlad_ · 2 Mar 2009 at 17:24

My house mate and friend has got himself in a fair bit of trouble money wise,
As far as i can see he is 2k overdrawn without an agreed over draft. Owes money on his old car and current car, credit cards and properly a whole lot more, I don’t want to dig through his stuff but did look at his bank statement which gave me a rough idea of what is going on. He now owes £360 for rent and bills to me. I have asked him many times over the weekend I’m yet to see it even though he was paid on Friday just gone.

The issues seem to be he won’t talk about it, almost pretends like there is no issue, infact i don’t think his girlfriend or anyone in his family knows how bad it Is. I know he got a £225 bank charge last month for missing around 10 direct debits (again indicates lots of money going out) I even wrote a letter for him to his bank but he has not even printed it off. ..

To make things worse he has a temp job with no contract earning minimum wage....... He lost his mum recently and is a quite shy good man, and not caring or denial seems to be the issue more than living beyond his means........ oh boy

Ben M · 2 Mar 2009 at 17:25

_Jimlad_ said:
i don’t think his girlfriend or anyone in his family knows how bad it Is. k

tell them.

_Jimlad_ · 2 Mar 2009 at 17:26

Ben M said:
tell them.

not quite that easy unless he admits a problem

footman · 2 Mar 2009 at 17:26

Drag him along to the CAB

Noel Gallagher · 2 Mar 2009 at 17:28

to the internet

best advice.

Nix · 2 Mar 2009 at 17:29

He needs to face up to it and start agreeing to some form of payment plans. He's living beyond his means.

_Jimlad_ · 2 Mar 2009 at 17:30

you know the hardest thing is trying to talk to him about it, he just goes silent like it's not happening....

B@Th*nG · 2 Mar 2009 at 17:33

you gave a guy with money troubles £360?

B@

Welshy · 2 Mar 2009 at 17:33

If he is in a relatively serious relationship with his girlfriend (i.e. not just a fling), then I would suggest talking to her about it yourself. I'd think he would be more likely open up to her than parents/siblings.

stinamoo · 2 Mar 2009 at 17:37

*deleted*

asim18 · 2 Mar 2009 at 17:44

Lol, reminds me of my retarded POS brother. He's in thousands of £ debt on his debit card.

He's now got a credit card, he doesn't even work regularly (about 6 hours a month) , and I don't think he realises that he has to pay the credit back, even though I've told him.

I want to punch his face in.

Spit · 2 Mar 2009 at 17:46

type "cag forum" into google, tons of advice in there.

_Jimlad_ · 2 Mar 2009 at 17:46

B@Th*nG said:
you gave a guy with money troubles £360?

B@

no i asked him for this months rent and bills...

_Jimlad_ · 2 Mar 2009 at 17:47

Spit said:
type "cag forum" into google, tons of advice in there.

thanks mate will do that now

cheets64 · 2 Mar 2009 at 17:48

If you cant persuade him to seek help from family or the CAB, what else can you do?

Azagoth · 2 Mar 2009 at 17:54

How old is this mate, is he old enough to take responsibility for his own actions?

Serial45 · 2 Mar 2009 at 17:54

The worst thing I ever did was get into debt. I was 22k in debt, got a big loan to settle it all, I am absolutely counting the days until it is paid off. £360 a month out of my wages for a further 3 years (out of 6).

There are many debt consolidation options out there mate, if he has more outgoings than incomings he could get an IVA or even file for bankruptcy.

Spektor · 2 Mar 2009 at 17:58

I think with the dire financial climate suicide is back in vogue, suggest it.

_Jimlad_ · 2 Mar 2009 at 17:58

Azagoth said:
How old is this mate, is he old enough to take responsibility for his own actions?

29!

_Jimlad_ · 2 Mar 2009 at 17:59

Serial45 said:
The worst thing I ever did was get into debt. I was 22k in debt, got a big loan to settle it all, I am absolutely counting the days until it is paid off. £360 a month out of my wages for a further 3 years (out of 6).

There are many debt consolidation options out there mate, if he has more outgoings than incomings he could get an IVA or even file for bankruptcy.

yeah did the same mate, sometimes the only way out is to borrow more.... the trouble is who would lend him money? in debt no perm job and on the min wage...