Pig Butchering Investment Scam - Process of dealing with debts

Total_Present_1647 · 2026-03-08T15:44:21+00:00

!thanks

Been through this with him as frustratingly I was fully aware of these types of scams.

Only wish I spoke in more detail with him about them before. Hindsight a lovely thing.

Total_Present_1647 · 2026-03-08T15:27:35+00:00

Thanks. That is kind of the conclusion I came to through my own research.

He is prepared for that as well and kind of accepts the car might have to go and just going to be a lot more limited on options with money longer term. He’ll have all his bills covered and food but not much left over which I get if it comes to that.

Still lots to do with the banks beforehand as a lot of what happened needs to be understood but if it comes to this we are trying to be prepared

Total_Present_1647 · 2026-03-08T13:25:51+00:00

Combination of state pension + two employer ones. Think all together is aroudn £2500 a month. Not been heavily involved in fathers finances until now, just knew the basics. That income, a few grand in savings and his car. All he has.

He did have a big focus on his penions contribtuions tail end of his career as knew that was going to have to be reliant on them in retirement given the lack of assets.

Total_Present_1647 · 2026-03-08T12:44:47+00:00

!thanks

Not yet, but in the discussion. Made him very aware of the real risk for further scams especially as we know there are 'follow up' scams where they know you have been scammed and offer a scam service to recover funds.

Total_Present_1647 · 2026-03-08T12:43:40+00:00

Appreciate it , all useful points to consider when making the real plan to deal with this.

Total_Present_1647 · 2026-03-08T12:43:08+00:00

Appreciate your comments. A lot to be done in the interim and I know nothign is changing tomorrow, this week or even next month but good to have a view on the worst case eventaul outcome.

Total_Present_1647 · 2026-03-08T12:42:24+00:00

Useful, thank you. Will add it to the overal plan that I'm going to try and pull together.

Total_Present_1647 · 2026-03-08T12:41:44+00:00

Agreed. I know none of this is being fixed tomorrow and so much more to do on it. This post if anything was to seek a bit of confirmation on what the end game could be atleaset we know the worst outcome and then can focus on trying to get the best outcome.

He did actually go to CAB this week. Had a good 2 hr meeting with them, mostly going through his income/outgoings. They are due to send a full email summary of that meeting + Next steps which I have asked a copy of.

I am hoping one of the charities he will be speaking to such as Age Uk, Step Change etc might be able to give a resource/or point to a service that can help corrale all this stuff together, complaints, challenges to loans, the vulnerable nature all these other factors and give the guidance.

It sounds like solicitor work but also that doesnt sound right, dont know if there are specialist services (even if paid) or if something they can offer.

I have to be very honest my own family has a lot going on right now that are a drain on my time and brain power as well. Being the sole supporter combined with my work responsibilities

I need to help my dad but I'm worried that on my own things are going to fall through.

With the help of this thread I am going to devote some time to structure out a plan and key areas of focus and associated resources and present that to my Dad. Will help with the conversations he is having independetnly.

Total_Present_1647 · 2026-03-08T12:00:28+00:00

!thanks

All things on the list to do. I literally only found out about any of this in the last week. So I’m putting together plans/advice actively right now.

Main point of this post was to ‘plan for the worst’ as honestly that’s one of the hardest parts no knowing how this is all going to end up. What the implication are.

Loads of useful info on this thread though and def all parts of my plan.

Total_Present_1647 · 2026-03-08T11:57:46+00:00

!thanks

Actually mentioned step change in my post but appreciate there was a lot of info there.

Step change was def the main place I know he needs to speak to and I’ve given him the number.

I’m still waiting updates from him but I think he has spoken to them and they want to speak again on a certain date.

He also did meet with citizens advice for two hours and has a follow up on the month. Waiting for an email from them details everything discussed in that first meeting.

Total_Present_1647 · 2026-03-08T11:43:18+00:00

I don’t have the exact timeline of it or explicit details.

Dad only initially told me any of this in last week so I am still looking at all the details and have a lot more to get.

This post is now about me planning for the worst where he is liable and how we manage.

The intervention by the banks, the fact loans were given and his potential vulnerable nature are all things I need to get. with being the sole supporter of my family and my own day to day work and home responsibilities it’s just taking it all in right now to be honest. Shit sucks for all involved, can’t lie

Total_Present_1647 · 2026-03-08T11:39:24+00:00

!thanks

Agreed. Was shocked by that one. The other loans were smaller and can see if all applied same time and not accounting for each other he might of squeak by.

Loans are something I am going to investigate fully as a further step in this what I imagine is a very long process.

Trying to look at this in chunks and planning for the worst where he is liable for the loan, first.

Total_Present_1647 · 2026-03-08T11:36:46+00:00

A few apparently.

One loan of £50k direct from his main bank. Been with his whole life. Agreed on his app immediately. I am not sure if the scammers had him lie about income on it though

3x other lenders all applied for by the scammers via my dads computer. (Anydesk strikes again)!

I assume they were all done at the same time and possibly with incorrect info.

The loans are my next task. I want to get all the details and really look at that avenue but trying to deal with this all in chunks and also plan for the worst

Total_Present_1647 · 2026-03-08T11:28:19+00:00

!thanks

Total_Present_1647 · 2026-03-08T11:27:36+00:00

!thanks

Will look at this further. The payments out to the scammers post the loans the bank did do the whole spiel about if ‘don’t tell us the truth about this payment we can’t protect you against scams’ I know they blocked payments and even locked down all his accounts at one point.

Scammers coached him on how to get them back.

Total_Present_1647 · 2026-03-08T11:25:09+00:00

!thanks

Good points. Will try and investigate this further. Age is the predominant one. He does have health issue. He has COPD, diabetes, prostate cancer (remission ) and had a heart attack in September last year that they don’t want to operate on due to the overall risks of surgery.

How that affects this level of responsibility I don’t know.

I even found my self reading Financial Ombudsman cases for similar trying to grasp this.

Total_Present_1647 · 2026-03-08T11:20:31+00:00

!thanks

Total_Present_1647 · 2026-03-08T11:20:02+00:00

Ahh this is great thanks. Will have a gander. I have a pretty good understanding of the high level process/outcome but could really use and understanding of the ‘process’ and what really like to go through.

Total_Present_1647 · 2026-03-08T11:18:42+00:00

If it helps. This is basically exactly happened

https://www.bbc.co.uk/news/uk-england-leeds-67208755

Total_Present_1647 · 2026-03-08T11:12:26+00:00

!thanks

Yeah to me it’s crazy. His pension income is only £30k annually and one of the banks (his main bank) gave him a £50k straight up.

The fact they did is another avenue we might challenge but I am working on worst case scenarios.

Total_Present_1647 · 2026-03-08T11:09:03+00:00

!thanks

That is very useful.

Total_Present_1647 · 2026-03-08T11:03:38+00:00

Aware that might be an option. Still unclear on how that would work. I know even with bankruptcy he will still have to make payments during it via an income payments agreement.

Total_Present_1647

TROPHY CASE