Guarantor Rights???????

michaela_hall

Can anyone help with this one.... my far too nice boyf went guarantor for a so called friend about 4 years ago and today has found that not only did she not bother to pay any of it and had a car repossessed but also didnt think to let him know.... we're in the process of attempting to get a mortgage and the company have put a default on to his credit file for thousands. He's rang them today and asked why they didn't tell him and they said "cos we don't have to" now he has to pay the balance and this default is going to massively affect us getting a mortgage. I am having a nightmare finding out whether guarantors actually have any rights at all so if anybody knows that would be a big help... :-(

bumpoowee

I'm not a legal expert but my understanding is that a guarantor is legal responsible for paying the debt if the original borrower doesn't pay for any reason (including because they don't want to). Sorry.

michaela_hall

Hi, thanks for the response.... Yes I know that bit, (sorry didn't make myself completely clear) he will pay it but it's the fact that they have never notified him and yet put a default on his credit file without giving him the opportunity to pay it.....

Alias_Omega

I think the default will remain on the credit report, just be shown as settled.

Will take a few months to get to this point.