Guarantor and debt questions

tates1979

Hi Folks

I have a few questions rolling around in my head after a conversation with my father last week. The situation is this - i found out that my Dad went guarantor for a family friend on a car purchase around 6 years ago. However, the 'family friend' upped and left the area, moving to a completely different part of the UK. My father attempted to contact him but to no avail. He also telephoned the company the purchase agreement was for.

Fast forward 6 years, and basically the debt has been sold on and these people have come thumping at my father's door. The company have admitted that they have been in contact with the defaultee, but are refusing to pass his details onto my father. My father is getting quite distressed, worring that his pension will be eaten up completely if he is taken to court.

Can anyone offer any advice? Sorry if this is in the wrong section!

Cheers!!

Pigeongirl

I hope I'm wrong but I think that since your father signed as guarantor then he is liable for the debt now.

I would advise your father to go to see the Citizens Advice Bureau to see where he stands.

It makes me angry that people's kindness can backfire on them like this - the 'family friend' should be ashamed of themselves :mad:

lynzpower

Sorry, Afraid I agree with pigeongirl. thats the point of guaruantoring, that you will pay up if the other person doesnt

missk_ensington

Yep. me three. Ohterwise what would be the point of standing guarantor?

I would concentrate on finding the 'family friend', tracing someone can't be that difficult if you know some of their details?!?!?!

tates1979

Thanks for the help folks. Not the answer i wanted to hear though~!! The 'family friend' was the son of a couple that my father was very friendly with. However, as the couple died within a few years of eeach other the son prob chanced his arm and skipped town - knowing that nobody could contact him. What's peeving my dad is the fact that the company won't provide him with the contact details even though the company admit to having been in contact with him.

My father is a bit too trusting - i for one won't ever get myself in that position unless it was for one of my own kids.

Thanks again folks

donnalove

surly if they know where he is and have had contact then shouldn't they still chase him for the debt. i know that your father was a garantoor but i thought that only came into force if they had no knowledge of whereabouts or couldn't find him, surley as he actually signed credit agreement and they can contact him then he should make arrangements to pay.

MrsTinks

If the credit company have managed to contact the person who's debt it is then they must know where he is and should be able to confiscate the vehicle and recover their money (or most of it). As for releasing his details then this is against the data protection act so if they had released the details to your father then they would have broken the law... sorry...

I would contact the CAB and start searching like mad for this guy... internet searches etc and electoral roll if you can get data from that? Sorry don't know if you can...

If your father knew other people that knew the guy and his parents then get in contact with them and see if anyone knows his whereabouts

Good luck!

Xbigman

Firstly check the paperwork. Was your father a guarantor or was it in fact a loan in joint names (this happened to me once). There are some small differences. But I agree with others that he is almost certainly liable. His best bet is probably to pay and then go to the small claims court to try to get his money back. This might not be possible in the circumstances and I wouldn't hold out much hope of ever seeing a penny if it is.

Likewise I agree under the data protection act the other persons details cannot be passed on, but its immaterial. If he is unemployed, poorly paid or in some other way unable to pay the loan then your father is liable.

As for repossessing the car, after six years I think this is unlikely to be possible.
Regards



X

Emmzi

Hold up...

Lenders have a duty of care to guarantors. In Scotland at least, when I was lending (ooh 7,8 years ago?) a guarantor HAD to be given an opportunity to take legal advice, or sign a form to say they did not require legal advice.

Ask for a copy of the guarantee and that your father wasoffered and took or declined legal advice.

If they have it-he's stuffed. If not, I'd maybe try and see a CAB solicitor for guidance. Worth a go. Depends how long ago the loan was, too.

wannabedebtfreebeth

Let me say upfront that I don't know anything about this situation - just a suggestion - I presume they are coming after the guarantor as the easy option. If he says "so sue me" would they then decide it might be easier/just as easy to chase the actual debtor?