Help! My Son Is on the Nibble!

Urgent help needed! My son is turning 30. He earns good money. He doesn't live at home but pays very cheap rent. Yet I have now found out he lives borrowing on NIBBLE -- he owns nothing and is still paying off his $30k car loan. You had an article in the Herald-Sun some time ago about these loan sharks. Can you send it to me so I can send it to him? I give him hints all the time about him about it, and I even bought him your book, but nothing is doing any good.

Jenny

Hi Jenny,

I think you mean that your son is taking out loans with a crowd called ‘Nimble’, who target Gen Ys with TV ads showing an ironic hipster rabbit. Their tagline is ‘smart little loans’. They’re trying to be all 2.0, but the truth is they’re just another payday predator.

As a parent, my heart goes out to you. It’s totally natural to want to help (read: nag) our kids into making smart decisions. However, your son is now a grown man and he’s obviously not listening to you (or me!). So you’ll have to leave it up to life to teach him this lesson. And based on Nimble’s terms, it’ll be delivered sooner rather than later. When it does, don’t bail him out under any circumstances.

Scott