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How can I ask for this money without causing an argument? watch

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    (Original post by x-Listen-x)
    Basically, I'm on my last lot of student finance - £500 last time I looked. I haven't got a job, but I am applying for several a day now ready for when I finish Uni in a couple of months. The only problem is my parents don't have bank accounts, so I have quite a few things going out of my bank account, including £60 car insurance for my dad and something like £30 internet/phone. On top of that I have my own phone bill and weekly driving lessons to pay for.

    My mum and dad were meant to be giving me money for the insurance and phone, but they haven't. They haven't for several months, and quite frankly I'm starting to panic. My mum isn't exactly easy to approach, and my dad said he'd give me the money several times but never did. How do I ask for this without causing an argument? I have a dentist bill and a "buy now pay later" payment for "Very" coming up too.

    I'm worried that my funds will run out and I end up with O2, BT, the dentists, Very and the insurance company on my back
    You need to manage your finances on some worst-case assumptions, namely that your parents won't pay you back any time soon.
    Your available funds are £500, not £500 plus what they owe you.

    Managing your funds is going to mean refusing any further requests for loans to parents, cutting back on anything that is not absolutely essential (eg, driving lessons), and cancelling any standing orders and direct debits that are not your responsibility. Any future use of your bank account has got to be one-off payments, and you only write cheques after you've been given the cash. I wouldn't pay for the market stall scheme under any circumstances... it may be £30 for the pitch, but how are they going to buy stock?
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    If I were you, I would open up another bank account. In one bank account, that's where all YOUR money goes that you need to live. In the other bank account, you should make payments on your parents behalf, but they shouldn't be in charge of it. If they don't give you the money for something, there will be no payment made and you should feel free to cancel the payment.
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    Basically you need to grow some balls and look out for yourself. Would one of your parents take that kind of crap from you?
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    (Original post by deedee123)
    how can it be illegal to open a savings account?
    I just wondered if you were allowed to open up an account in my name, but then hand all of the details to someone else. I know nothing about banks lol.

    The question isn't about legality here. It should be "Do you trust them enough to to **** up that account in your name."
    Good point
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    (Original post by x-Listen-x)
    I've mentioned the reason in a reply up above. They had their own business, it went to hell and they both went bankrupt. They're not allowed bank accounts apparently.

    Is it illegal to open a bank account in my name and let them have it to put money into/take money out of, so they have no excuse to use my money?
    Sorry didnt see that bit.
    Errr technically i think it is or atleast against bank policy... for instance when i tryed to get a statement for my dad from his account they wouldnt let me since its not my account... you could try setting up one in a joint name with you and one of them?
    But legally speaking im not sure, theres potential for getting into trouble but id consult a legal or financial advisor on that.
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    (Original post by deedee123)
    how can it be illegal to open a savings account?
    It is fraud for anyone other than the account holder to use the account.
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    (Original post by x-Listen-x)
    I just wondered if you were allowed to open up an account in my name, but then hand all of the details to someone else. I know nothing about banks lol.
    As people have already tried to tell you here, by doing that, your parents have absolutely no responsibility for the account and yet are in control of it. You're handing your credit rating to them on a plate for them to destroy (and from the sound of it, they will do it). You will also be liable for any debt they get into on the account, and you will just be laughed at if you try to claim that it's not your debt - ie this will cause much bigger problems than you have now.
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    (Original post by Ronove)
    As people have already tried to tell you here, by doing that, your parents have absolutely no responsibility for the account and yet are in control of it. You're handing your credit rating to them on a plate for them to destroy (and from the sound of it, they will do it). You will also be liable for any debt they get into on the account, and you will just be laughed at if you try to claim that it's not your debt - ie this will cause much bigger problems than you have now.


    Thank you. I never considered the other bank going under as well... I mentioned to my dad today about the simple bank account and more or less ordered him to see Barclays about it to get one himself.

    I'm going to talk to my dad about everything else on Sunday. I received a bank statement today which I will wave under his nose, showing him how much I've got left, and I'm going to make him see that I don't have an inexhaustible supply of money.

    As for the market stall... I'm going to talk to them about that as well. Last time they had a business they rarely made enough money to cover costs of their advertising and so on hence why they went bankrupt. If that happens in the market stall - considering the marketstalls aren't even that popular - then I'm screwed.

    You need to manage your finances on some worst-case assumptions, namely that your parents won't pay you back any time soon.
    Your available funds are £500, not £500 plus what they owe you.

    Managing your funds is going to mean refusing any further requests for loans to parents, cutting back on anything that is not absolutely essential (eg, driving lessons), and cancelling any standing orders and direct debits that are not your responsibility. Any future use of your bank account has got to be one-off payments, and you only write cheques after you've been given the cash. I wouldn't pay for the market stall scheme under any circumstances... it may be £30 for the pitch, but how are they going to buy stock?
    I agree with everything there, except for the driving lessons. I'm in a tricky spot here. I've got a very specific degree which basically only makes me likely to get a job working with animals... For nearly 90% of the careers out there with animals you need a driving license - I need these lessons.

    As for how they're buying the stock, I have absolutely no idea. I think they're hoping it'll drop out of the sky and land on the stall.
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    Start by cancelling the payments for the market stall, so they know you're serious when you say you'll stop the others. Your student loan is for you to live off, not them! If you have written evidence of their debt to you, you can always take them to Small Claims if they don't give you what they owe,
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    (Original post by balotelli12)
    It is fraud for anyone other than the account holder to use the account.

    (Original post by x-Listen-x)
    I just wondered if you were allowed to open up an account in my name, but then hand all of the details to someone else. I know nothing about banks lol.



    Good point
    i don't mean OP opening one up for them, she said they're not allowed bank accounts due to bankruptcy, why aren't they allowed one? even a 5 year old can have a savings account.
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    (Original post by deedee123)
    i don't mean OP opening one up for them, she said they're not allowed bank accounts due to bankruptcy, why aren't they allowed one? even a 5 year old can have a savings account.
    Someone's already explained this on the first page of the thread.
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    I'm sorry if this is derailing the thread, but can you really not get a simple no-interest, no overdraft, you put your own money in and you take it out bank account, regardless of your credit status? What could possibly be the reasoning to stop people being able to do that?
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    (Original post by Atheism)
    I'm sorry if this is derailing the thread, but can you really not get a simple no-interest, no overdraft, you put your own money in and you take it out bank account, regardless of your credit status? What could possibly be the reasoning to stop people being able to do that?
    I think this is the 'basic account' people are talking about.
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    (Original post by x-Listen-x)
    My parents can't have bank accounts. My mum tried running her own business, it went bankrupt and the same thing happened to my dad. Neither of them can have accounts.

    I've asked, and they agreed to give me £20 a week... that'll cover my driving lessons, but the rest of the money is going to run out soon.

    On top of this, my mum said yesterday: "I'm setting up a market stall, but you need direct debit. Can it go from your bank account?"

    Sure. That's just another £30 a week that I have no guarantee of getting back...

    I've tried talking, but they don't seem to understand. I've started thinking what'll happen when I move out. Will I still be paying for my dad's insurance, the internet and everything else on top of my own rent, food and electric bills?

    I'm running out of options. Like I said, I've tried talking, but I might as well tell the dog! I can't do anything with the money - I can't go to Scotland to see my brother, buy new clothes or anything, just because my mum and dad are relying on me to pay their bills & insurance.
    Can't believe that they a) don't have the money to pay you back straight away and b) would even let you DO this. Don't give them any more money and cancel everything you pay for them. That is a ridiculous situation and they should be ashamed. You can say no...
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    It is common for bankrupts to screw their creditors, but most unusual to find some who are so cynical as to screw their own kids.
 
 
 
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