To make it brief:
My father has taken multiple loans without me knowing,
I got real fucking mad and stopped supporting him alltogheter, turns out he's not able to withstand the payment because I was giving him money constantly.
As much as I wish to just leave his fucking ass in the middle of a street and not give a shit,
I still live with him and now he's trying to leech off the rest of my family.
I was thinking about using the money I have set aside (about 24k) to pay them off,
but today I found out that he might owe more money that I've immagined, he owes this company 18 fucking thousand euro,
and on top of that has at least 4-5 loans going on.
Eventually even if I let this shit blow in his face it would come back to bite me in the ass at some point,
so I need to figure out a plan of action right now that doesn't start with bashing his goddamn skull in.
>figure out how much money he owes in total
>start paying off the smaller ones with the money I have
>take credit, debit cards and Cheques off of him
>use his pay (about 1.5k € month) for bills and house expenses
>hopefully at this point we can save something even if I didn't pay all the loans off
And then I'll have to fucking treat my father like a school boy giving him his weekly pay to eat and go to work,
he's a year from retirement and he's going to have even less income at that point.
Would it even be better to pay the loan off in one payment? or should I just stick paying the monthly rates?
Or should I just kill him and spend the rest of my days in jail?
You have 24k in savings, and you aren't ghosting on him?
Alright, maybe that's a little harsh. The fact is, you already paid him a wage for existing, but you can't cannibalize your safety net because of the hole he dug himself in. He needs to declare bankruptcy, and you need to realize you aren't a miracle worker.
Well I was hoping to be brief, sorry.
if I don't he's gonna leech off the rest of my family (mother side)
I'm still studying and work come and goes, I'm not really in the position to rent
if the debts are not paid and he dies I' would inherit them anyway.
To be honest, I've been a fool.
I've been blind for too long trying to help him, but now I really don't care if he ends up homeless or something else.
I'm not sure how the bankruptcy works tough, aren't they just going to impound anything of value that he has to pay the debts off?
Bankruptcy to my understanding is they take everything you have of value and then strike your debts. Nobody would file for bankruptcy if it was just them taking your stuff. It's simply not of any help to have someone force you to sell everything and then still have debt.
Google it though, it does sound like the right thing to do. Just don't involve yourself in the situation too much though.
Their are different degrees of bankruptcy called chapters. Im not going to get into it but it depends on the chapter one files if your stuff get repossessed and sold. And i honestly doubt he will be able to retire at all or atleast soon.
Is he married? Then his wife is the one obligated to help pay. You wont inherite his unless you are also on the loans so you might aswell not pay anything until you are forced to.
I suppose some of that could be different in Europe but the jist is the same.
Oh yes that's right, but all things considered I'd rather inherit the properties my father owns and pay the debts.
He's actually due next year, he'll reach the required amount of years of payed contributes and can just retire.
My mother died 4 years ago, and after that we started a bank acount in both of our names, I'm very worried this will play in to this.
In my defense we only did this so that if needed I could access that account, but I have my own wich I always use so I never really kept an eye on it.
>Does your father own anything of value - house, car, furniture etc?
If not then bankruptcy would be an option. In the UK we have a charity called Citizens Advice would would give you some advice for free. Do you have something similar?
I would expect debts to die with the person unless they have assets - see above
No, I don't know anything of the like, but I'll look if there is something similar.
Oh yeah part of my idea is to switch everything he has on his name to me, house and everything, just in case.
My wife went through this with her mom who was taking out payday loans, card advances and such to spend on bullshit like laptops and trips to other countries.
She ended up working her ass off one year and buying her mom a little house to put her in because she couldn't stand the thought of cutting her out of her life and the woman being homeless or whatever.
My wife makes a lot of money so I'm sure this isn't an option for you. I'm just letting you know that figuring out some way to get him out of your life will probably be the only way you will ever be happy, so start making plans to do that for when you become financially independent.
>figuring out some way to get him out of your life will probably be the only way you will ever be happy
I know that, I've known for a long time now.
But I've been trough some ordeal and it'll take some time before I can stand on my feet.
But unlike your wife I don't really feel any sort of duty towards him, I'm just gonna think about myself.