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Bank of Mum and Dad calls in its debts
http://www.x404.co.uk/forum/viewtopic.php?f=3&t=10086		 Page 1 of 1
Author:  Amnesia10 [ Fri Aug 20, 2010 8:15 am ]
Post subject:  Bank of Mum and Dad calls in its debts
http://www.telegraph.co.uk/finance/pers ... debts.html

Quote:
One in 10 grown up children gave or loaned typically £8,250 to their parents last year. It compares with the same number giving £6,500 in 2008.
The sharp increase is being blamed on the recession as parents face a tightening squeeze on their own finances.
Author:  mikepgood [ Fri Aug 20, 2010 10:32 pm ]
Post subject:  Re: Bank of Mum and Dad calls in its debts
It's what you do, if you can.
Author:  Amnesia10 [ Fri Aug 20, 2010 10:57 pm ]
Post subject:  Re: Bank of Mum and Dad calls in its debts
It has been next to impossible for many people to get on the property ladder without assistance from family. Though it has invariably been a sacrifice for the parents as well. With collapsing pensions they maybe realise that they were not so rich after all.
Author:  ChurchCat [ Sat Aug 21, 2010 9:31 am ]
Post subject:  Re: Bank of Mum and Dad calls in its debts
Err,

Are not loans always required to be paid back? By definition I mean. If paying back is not required surely it is a gift?

:?
Author:  pcernie [ Sat Aug 21, 2010 11:03 am ]
Post subject:  Re: Bank of Mum and Dad calls in its debts
ChurchCat wrote:
Err,

Are not loans always required to be paid back? By definition I mean. If paying back is not required surely it is a gift?

:?


That's it, CC, take the bastards to court! :lol: ;)
Author:  Amnesia10 [ Sat Aug 21, 2010 3:27 pm ]
Post subject:  Re: Bank of Mum and Dad calls in its debts
If it is a loan then it should be repaid, but there is 6 years rule on debts.
Author:  l3v1ck [ Sat Aug 21, 2010 3:42 pm ]
Post subject:  Re: Bank of Mum and Dad calls in its debts
Amnesia10 wrote:
If it is a loan then it should be repaid, but there is 6 years rule on debts.

What's the six year rule?
Author:  Amnesia10 [ Sat Aug 21, 2010 3:54 pm ]
Post subject:  Re: Bank of Mum and Dad calls in its debts
No debts can be reclaimed if there has been no contact between lender and borrower for 6 years and a day.
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