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e recently assisted someone who had got themselves into debt, They were over 30 and in all that time had never had to deal with financial matters, their parents and then their partner had dealt with all financial matters. They had recently been left on their own and quickly found themselves in a situation where they were having to deal with bills etc but had no concept and I do mean no concept of how to deal with paying bills, ensuring that direct debit's were set up, being able to phone and speak to the electric company etc without getting totally panicked because they could not understand what they were being asked to do when it came to trying to sort out a payment plan. Inevitably time passed and the Bailiff had came a knock, knock knocking. Please train your children to be able to manage money, if you live with someone who deals with all the finances in the home please train yourself to deal with finances. Please check bank accounts and credit cards regularly to ensure that you are within manageable limits and where you can pay of your credit cards month by month DO NOT take out loans with partners etc. Do not sign something because your partner asks you to without reading it and understanding the obligation YOU will be under if you sign it. If you have signed an agreement in your name you are responsible for the debt. In this case the party signed documents thinking it was in both theirs and their partner's name only to find it was just them left carrying the can. What we have found most upsetting about this is how this lack of training in financial matters has left this person so disempowered.
The below is a useful site to help you to help your children etc to learn about how to deal with finances and empower them to be able to deal with the demands of life and avoid ending up in Court because of DEBT.

http://bit.ly/2VsBZD7 

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