Bank of mum and dad

Your post made me growl as it's just happened to me . I had to help out my daughter , she's set up a direct debit to repay me but I 've told her to cancel it as if she can't manage now , how is she going to manage to repay it , I think if there's no money in her bank she'll get extra charges .
I gave my second daughter the same amount to balance them up , which I felt was fair .
I've never been in debt in my life , had no parental input from my parents and i am content . I struggle to understand the modern world !
I don't think you'll get your money back - maybe just write it off meaning less inheritance for them ? Not fair on you at all .

Thank you everyone, we are a close family and everything we do is for them what ever age. As long as we have enough to keep enjoying ourselves
will try our best to help. Which we do.
We both had a very hard up bringing and we decided when we first got married that if we had a family we all stick together. If we have been lucky to get or win (hubby plays a sport where you can win money which he's been at the top not a famous sport) they always get a small share.

It’s good that you’ve gone through a plan with them and that you think the situation now for them is manageable. I hope it does work out well for all your sakes and that they felt able to come to you for help.

Wanderers1 - good for you. I suppose I would do the same but I would feel somewhat resentful that they'd been silly enough to get into so much debt. Sounds like you gave them some much needed advice along with the dosh.

You do not expect to be doing this with adult children - what a shame that these young people have got themselves into such a fix. It sounds as though not only are you lending them money but also acting as financial advisors!!

Deedaa thank you for replying, this total is with a discount for early payment and this is only part of their debts.
They realise they have been daft where money is concerned (not a word I'd use). Not defending them but credit is so easy to get.
Tonight we have gone through a plan with their income and out goings, shown where they can save.
We are confident they will be able to pay the other debts off and us.

It's a lot of money Wanderers1 even if they have set up a DD. Have they explored all the possibilities for dealing with their debts? There are ways of getting some of it written off. DS has had a lot of problems with money and eventually got help through the CAB. Even so we are still contributing to his rent every month - not quite to the tune of £10k though.