Kids again! - why me??

[Smowball]

I was in such a good mood and am now so blooming stressed.
Second oldest son(18yr old who has the new baby) has just called me. I just knew he wanted something as he was rambling. So anyway said I needed to go as had to catch the post and he said " ummm, I was wondering will you be guarantor on a loan I need to take out?" What bloomin loan was my reply. Seems he wants to borrow £500 from a company as he needs new car tyres etc- he has emailed me the link to them but needs a guarantor in case he doesnt pay. Have been put totally on the spot and said I would think about it, but since then in last 5 mins he has txt and said they need my card details incase he doesnt pay, which he says he will. Am fed up on being put in these situations and just know he will make me feel awful if I say no. God the older they get the harder it is!!

[Traci66]

I agree with you smow. One of our daughters and our son are constantly on the phone asking questions like these, they actually owe us about £10000 between them, I have now started saying no, so then they try and lay the guilt trip on me, I feel absolutely awful saying no, but the other two girls both work to earn their money and don't blow it on crazy things and I am quite happy to lend them money as it is paid back when they say they will. It is getting to the point now that when I see their number on the phone I am reluctant to answer it. You are right, it was much easier when they were younger.

[andrew1707]

An 18yr old spending £500 on car tyres!!! That hardly sounds like a necessity.

You could buy a small car WITH tyres for that amount.

[Smowball]

Its not just tyres, its car battery and some essentails he and baby/gf need(apparently!!)
He doesnt have credit card, works 3 days a week and gets paid cash, doesnt claim benefits. Ironically I had just put £50 in an envelope for him to treat him and gf to a night out.

Why do kids have this ability to make us feel like total cr*p!

[tonyav]

Sorry Smow, but if he can't afford to run the car then I don't think he should have one imo.

[andrew1707]

Get them a bus timetable instead.

I certainly wouldn't give the loan company Credit Card details.

[missnemesis]

Sorry smo but it isn't going to take a genius to work out how this one is going to end :(

[Smowball]

Just looked at the link - the interest rate is 199% !!

[Smowball]

http://www.flmquick.co.uk/default.aspx

[Smowball]

Have been on benefits website - he is too young for working tax etc - says you have to be 25.

[vodkancoke]

Oh Smow, please don't do it. At that percentage he will never be able to pay it back and you will be liable. As much as I hate to suggest it because it is not fixing the problem, would it not be better if you loaned him the money and he could pay you back as though he was paying back the crooks but without the interest added?

[andrew1707]

199% APR is not good.

But £400 for 30days from Wonga will cost you 4214% APR

and NO I did not miss out the decimal point.

[Smowball]

Im not doing it - like you say, I would rather lend him the bl00dy money, or even buy the tyres myself.

[ummmm]

You can't get WTC until you're 25?

[flump1]

smowball , as hard as it is going to be , don't do it. Maybe arrange a smaller amount to loan them, and what ever you decide, these are adults now. They must start being responsible for their financial future without you bailing them out xx

[tonyav]

Jaysus, don't do it Smow.

[shoota]

Was just about to say it would be cheaper to buy the tyres yourself Smow.
tell him its a one off and you want paying back before christmas tho..

[Nosha123]

lend him the money and get him to set up a standing order to pay it back each week. Interest free.. and you get the money back eventually!
They gotta learn!!!

[Smowball]

nope ummm, I checked the other day on directgov website.

p.s did I mention that he rang last month in a state because he had taken out a £100 loan from one of these tv loan ads and didnt have the money to pay it back by the fri so i had to ring up and pay it.

Nope, Im not doing it!