Can I stop being a guarentor?

Would have been explained to you when you agreed to being a guarantor.

Your now stuck with paying it unless you can afford to pay it off in 1 go.

You could maybe try contacting her parents or friends asking if they have heard from her and get them to speak to her, not guaranteed to work though.

You are technically responsible if you signed the so-called contract but one thing I would point out which might help to ease your worries is that these loan companies are all skating on legal thin ice anyway as businesses, Guarantor or otherwise, Amigo are no exception, they are as dodgy as all the others, so when someone runs into debt with them, whether they have to deal with that person or their Guarantor, as per the thing they laughingly call a "contract" which could be picked apart by an expert Lawyer in minutes, they can't do as much as they would like you to think they can.

All these lenders can do is phone the person or the Guarantor that they consider is responsible for the debt and send them letters, if that fails, eventually, they just sell the debt off to a debt collector who has got naff all legal power anyway, remember, they are all private companies, they are not proper Baliffs with any real legal power, they might come to your house but they can't force their way in, if you don't want to talk to them, they can't do a thing about it at that point, they CAN take it to court, sure but in all honesty, it's more trouble for them than it's worth, most won't bother, so all they can do is just keep phoning you or writing to you or visiting you every so often, they will probably try to make you a repayment offer or just threaten you with legal action etc if you don't get in contact with them about it.

However, if you just don't respond, they themselves can't do a thing about it and if in the unlikely event, they do take you to court, the court won't consider it to be a big deal, it's not like Council Tax, this is just some meaningless private debt to them, they will probably just make a suitable arrangement for you to repay the debt, there's really nothing to fear accept fear itself, don't let these loan companies worry you, if anyone should be worried, it's them, because they are being slowly cracked down on, their days are numbered, it wouldn't surprise me if one day they will all be ordered to write off all debts because they are all so legally iffy anyway.

Brains64 wrote: »

You are technically responsible if you signed the so-called contract but one thing I would point out which might help to ease your worries is that these loan companies are all skating on legal thin ice anyway as businesses, Guarantor or otherwise, Amigo are no exception, they are as dodgy as all the others, so when someone runs into debt with them, whether they have to deal with that person or their Guarantor, as per the thing they laughingly call a "contract" which could be picked apart by an expert Lawyer in minutes, they can't do as much as they would like you to think they can.

All these lenders can do is phone the person or the Guarantor that they consider is responsible for the debt and send them letters, if that fails, eventually, they just sell the debt off to a debt collector who has got naff all legal power anyway, remember, they are all private companies, they are not proper Baliffs with any real legal power, they might come to your house but they can't force their way in, if you don't want to talk to them, they can't do a thing about it at that point, they CAN take it to court, sure but in all honesty, it's more trouble for them than it's worth, most won't bother, so all they can do is just keep phoning you or writing to you or visiting you every so often, they will probably try to make you a repayment offer or just threaten you with legal action etc if you don't get in contact with them about it.

However, if you just don't respond, they themselves can't do a thing about it and if in the unlikely event, they do take you to court, the court won't consider it to be a big deal, it's not like Council Tax, this is just some meaningless private debt to them, they will probably just make a suitable arrangement for you to repay the debt, there's really nothing to fear accept fear itself, don't let these loan companies worry you, if anyone should be worried, it's them, because they are being slowly cracked down on, their days are numbered, it wouldn't surprise me if one day they will all be ordered to write off all debts because they are all so legally iffy anyway.

I know it’s Friday night, but are you p**sed? Coming on a forum such as this and dishing out advice that that is very irresponsible. Money has been borrowed, from a legitimate loan company. A contract has been signed. Your opinion of the loan company is irrelevant. The OP risks ruining their future financial position by having their credit file trashed for six years.

If you are so sure of your position, get your nearest and dearest to take out payday loans and you can act as guarantor. Then tell them not to pay because you’re not worried about them chasing you for the money.
Brains 64. Is that the amount of cells?

Herzlos wrote: »

That's terrible advice - refusing to pay the loan will trash your own credit rating. Bailiffs can still be invoked from private debt after court approval.

Unfortunately the only real solution is to take out a loan at a normal rate and pay off the Amigo loan. Will save you a fortune and let you clear it much faster.

You can attempt to reclaim from the ex, but if her credit rating was so bad she needed a guarantor then she probably doesn't have any money to give you.

Shakin_Steve wrote: »

I know it’s Friday night, but are you p**sed? Coming on a forum such as this and dishing out advice that that is very irresponsible. Money has been borrowed, from a legitimate loan company. A contract has been signed. Your opinion of the loan company is irrelevant. The OP risks ruining their future financial position by having their credit file trashed for six years.

If you are so sure of your position, get your nearest and dearest to take out payday loans and you can act as guarantor. Then tell them not to pay because you’re not worried about them chasing you for the money.
Brains 64. Is that the amount of cells?

Show me where I told the OP to 'refuse to pay' the loan, that's not what I said, try actually reading what I said and understanding what I meant, if the OP wants to pay the loan back then, of course, they should, what I was trying to explain to them is that if the worst comes to the worst and they have difficulties keeping up with the payments, don't let it worry them, because there is only so much they loan company can do legally to recover the debt, no loan company uses REAL Baliffs, they use private debt collectors that try to act as if they are Baliffs but they are not, if they CLAIM to be real Court Baliffs or try to give the impression they are, ask to see their ID and check them out, I think you will find they are nothing of the sort.