skipping the country owing money to the bank

[eri]

think dad said he would have if son hadn't virtually given the other car away

but anyway it was out of the question while dad was still paying off all the debts that were popping up

that lad had demons

last i heard

they were winning

[Keys]

Give a boy a crutch and you assist him in healing.

Let the man keep the crutch and he runs the risk of limping all of his life.

[eri]

young guys everywhere

learning about life and everything

http://www.stuff.co.nz/world/australia/6723747/Posties-air-mail-delivery-comes-crashing-down

[Bulldog]

Have you approached the bank to ask if they will write off the loan? They may well cut their losses if he is overseas rather than spend on debt collection. It pays to be pro-active & go see them personally, most here will know the "head in the sand" approach that end in mortagagee sales!

[Ivan McIntosh]

Eri if the debt collector comes calling here we aren't going to be held liable for his debt are we?

I dont know why the bank even lent him the money in the first place his savings record was rubbish, it seemed as soon as he was old enough to borrow money they were happy to give it too him, not that that excuses his behaviour in any way.

No, they'll try and bluff you but there's nothing in it. Then they'll emotionally blackmail you about the horrible effect it will have on your son. Don't give in.

Probably they'll never try and enforce it. Probably. It will sit on his credit history however for a number of years.

For various reasons I deal with a fair number of bankrupts. As soon as they come out of it they're back borrowing.

[drelly]

I want my son to grow up and be responsible for his actions but I dont want this to severely affect his life.

Kids can't learn to run if we stop them falling over.

Probably the best thing for him would be to have a bad credit rating for a few years that stops him getting into debt. OMIGOD! Imagine having to save and pay cash!

[Contrail]

I'm pretty sure if he stays overseas for 5 years the '"black mark"' from those credit problems fall off your credit history? Maybe you should look into this to see exactly how it works. There have been changes over time so things might have changed in recent years.

The main thing might be when he is expecting to return to New Zealand.

[Contrail]

I should say that I know someone around 10 years ago whose parent worked in one of those credit agencies. My friend purchased things on credit in high school so he had a really good credit history.

Then he took out loans of over $20,000 and went overseas with the money (and never repaid it) Then came back to NZ after several years and was able to buy a house straight away. They knew that after X time the bad credit problem of the past vanished. Sounds similar to what another person mentioned in the thread.

Like i said before though, who knows how things work now.

[MarkS]

unless he has nominated you as guarantors

how many kids do you have?

i know of families where the parents have paid the debt of 1 child

and then given the others equivalent cash to balance

that let's the black sheep know that's it's not just $5000 it's costing mum and dad to bail them out

but $15,000, if there are 3 kids...

easy credit

the crack cocaine of this generation

Hi frazzledfozzle

Remember your other kids are watching how you respond to this.

The lesson will be as much for them as the "problem" son.

Think about what your core values are.

You know what you must do.

Stay strong for them and you.

All the best.

[jimO]

still theft isnt it??

[flyernzl]

still theft isnt it??

Yes, but if the child is young/old/maori/pacific island/female/gay/lesbian/vertically challenged/left-handed/unemployable/a green party supporter or all of the above then on their return they will be classified as a member of a disadvantaged group.

At that time all will be forgiven and they will no doubt qualify for WINZ (read taxpayer) support.

[spaceman]

still theft isnt it??

Sooooo........ a racist judging a thief??????

Cheers
Spaceman

[jimO]

Sooooo........ a racist judging a thief??????

Cheers
Spaceman

who are you calling a racist

[spaceman]

^ This guy

im not overly fond of asians either

Cheers
Spaceman

[jimO]

^ This guy



Cheers
Spaceman

just because im not overly fond of asians doesnt make me a racist, but id rather be a racist than a theif