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Advice Needed - How will being a guarantor effect me?

muckyhaud_2 · 2009-12-04 23:26:13

Hi all, My brother has asked me to be a guarantor on a loan for £2000 over 3 years to consolidate some debts. He doesn't have a credit rating due to falling on hard times in the past. I am sure he will meet the £100 a month payments and even if he didn't my mother would pay it for him. I on the other hand have an excellent…

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iolanthe07 Posts: 5,493 Forumite

5 December 2009 at 11:16AM

Only lend him the money if you can afford to write it off. There are so many posts here from people whose family relationships have been ruined through lending to family members. My brother-in-law borrowed money from my wife years ago, and we have never seen a penny of it back, but it's OK because we never expected to.

I used to think that good grammar is important, but now I know that good wine is importanter.
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Advice Needed - How will being a guarantor effect me?

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