A man who had been dating his wife for a decade, but who now thought of her as his girlfriend, is about to be forced to get a credit card from an old man in an attempt to repay a debt he has racked up in his 40s.
The Lad Bible, a Bible magazine, said the man, who has a wife and a son, had been approached by a man who wanted to borrow $500 to buy a car.
He said he had paid off the debt, and agreed to take out the card for him if he would make a down payment of $250, then buy a home for him and his wife, who are in their 80s, in exchange for a loan.
He told the Lad Bible that he had worked hard to repay the debt and was ready to repay his debt.
But the card issuer, Vistam, told the magazine the woman was not eligible for a credit line, and said she had no interest.
He has since been told he cannot borrow more than $1,000.
Mr Bremner said he was concerned that the old man could have been using his credit card for something else.
He wrote on the Lad website: “The man is apparently a senior and he is also married to a woman who is his former girlfriend and the loan amount is too high.”
If the woman is able to repay it on her own, I have no doubt that she would repay the loan on her terms.
“I don’t know how much interest this man could afford to pay and whether or not he could repay the card.”
He is obviously not in a position where he can borrow more money and if he does, it may well be to pay off the card he is borrowing.
“My advice would be that the reader is very careful in writing down credit cards as it can make the old guy look very good.”
The Lad website said it had received calls from people across Australia asking whether they should get a card from the same old man, and that it was working on getting a copy of the man’s card to people.
“The Lad is working with Vistadam to find out whether he is entitled to a credit from the woman,” the website said.
“We are also working with the Victorian Government to help get this card out of the old chap’s hands.”
Topics:credit,business-economics-and-finance,people,federal-government,banker-banking,finance-industry,consumer-protection,consumer,family-andamproductive-health,horseshoe-paradise-4217,bremner-parliament,france,melbourne-3000,vicContact Andrew DentonMore stories from Victoria