Telling your parent you are not a bank: UPDATED 7-12-15

[Anonymous]

I dont know what people are afraid of. I'd hang my parents out to dry if they opened things on my credit.  1 thing okay but several things.... OH NO... I did a perfectly good job and buying things i could not afford, mismanaging my money, and running my credit into the ground. I did not need any help. I would have expected the same thing had the tables been turned.

I would be firm and tell them no.

[Gunnar419]

I know this is an old thread, but I'd love to hear from the OP again. How did you finally handle this, LShawn?

I agree with Patrick Hassett. I'd turn my parents in in a heartbeat if they committed fraud against me.  Chances are that police won't do anything to the parents in a situation like this, but a police report provides both a means to straighten out credit and a very firm way of saying NO to family members who think that loyalty will forever keep us in their bondage.

[Anonymous]

My parents use my Amex but they have the money at the end of the month for whatever they use! but if i had parents like that i would freeze my credit reports.. it makes me mad thinking about.

[Broke_Triathlete]

I feel your pain bud. While I was at college my dad ran in excess of $100,000 in my name and had several utilities that went into collections. Once I returned home from college I started seeing collection letters in the mailbox with my name on it. Then I started digging in further and uncovered all of this. I tried making right but the monthly payments on everything was more than I was making. Then I got a letter from BOA saying they want to sue me for a $62,000 credit card balance. At that point I really didn't have a choice but file Chapter 7 because at that point I was already having my wages garnished.

My advice to you is to run a tight ship and nip it in the bud before things get out of hand.

[LShawn08]

I feel like someone in here went "Oh no, Girlfriend!" *Finger snap!* lol

[Revelate]

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@LShawn08 wrote:

I feel like someone in here went "Oh no, Girlfriend!" *Finger snap!* lol

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Hah!  Well getting out for <$500 is a BARGAIN if you and your parents are still on speaking terms after this.

Glad things worked out mostly OK, that was a crappy situation.  Guess that's one thing I have to be thankful for regarding my own parents: they didn't teach me crap, but they never pulled this sort of shenannigans.  You're a better person than I am for certain, I would've kicked my own parents to the curb over this sort of thing.

[Existentialist]

Kudos for getting out from under a (very) messy situation.

[Anonymous]

Wow that's crazy. Good for you. If I were you I would never take the freeze off my CRs. Ever. People don't change long term unless they initiate it.she might try again later. My mother is terrible with her finances too. Had to dig her house out of foreclosure because of 16k in backed taxes. A house she owned outright. Then she just stopped paying taxes the next year. Long story short, I took over her burden, and taken care of her finances. But she never pulled those kinds of shenanigans 

[ErikaC1]

My sister got an apt in her name for my mother to live in and she stopped paying the rent for three consecutive months without telling us. She was evicted and my sister got a collection notice for 3k, she also had the electricity in her name. My mother does not pay her bills nor does she care to open her mail. At this time she is living with me. Is a never ending cycle. We are at our breaking point. She was depressed over some stuff but that does not give her the right to ruin my sister's credit. I feel for you OP.

[Anonymous]

You definitely need to talk to your parents and let them know that they are ruining your credit reputation and if they don’t listen, it’s time for you to freeze all of the credits that you own. They would be hurt but you have to be firm about your decision because they do not have any concerns when you are having financial issues caused by them. Don’t they have work to earn money for a living?

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