Guarantor on an flm loan what happens if i go to court?

pippitypip_2

T7YVB1 wrote: »

I bank with hsbc, i am set up with internet banking so yeah the plan is to keep cancelling it online if they keep setting it up.

I spoke to flm after i sorted out the money with the sister, so they didnt need to send me the cheque.

Brill idea of writing the letter, will write one today. Thanks

If you've cancelled it, I don't think they can just set it back up again but worth writing the letter.

Let us know how it goes.

pippitypip

neas

The thing about guarntooring.... if you need to have a guarantor it measn statistically they dont think you are a good investment to lend to.. i.e they would lose money.

So being a guarantor isnt a 'tick in the box' its a real risk.... so be really careful you are prepared to repay loan.

bel48green

i too have got myself in this bad situation. my friend cant afford to pay all of the loan but FLM refuse to negotiate with her. i had a rude phone call today. talking to me as if i was a moron. i explained that i needed to keep a roof over my head. would they rather my family went without food! no sympathy at all. mentioned the huge interest rates that were applied to the loan. as payments didnt seem to be making much difference to the total loan. "this is not the issue your late payment is!":(

pippitypip_2

bel48green wrote: »

i too have got myself in this bad situation. my friend cant afford to pay all of the loan but FLM refuse to negotiate with her. i had a rude phone call today. talking to me as if i was a moron. i explained that i needed to keep a roof over my head. would they rather my family went without food! no sympathy at all. mentioned the huge interest rates that were applied to the loan. as payments didnt seem to be making much difference to the total loan. "this is not the issue your late payment is!":(

I have no clue at all why you're so angry and to be honest, I'm not surprised you didn't get anywhere with FLM, what with your attitude and obvious lack of understanding as to what you've signed up to.

If your mate can't pay - FLM have no need to chase them, that's why they want a guarantor. You have signed a legal agreement, that in the event your mate can't pay - you will.

Indeed the interest rates aren't the problem - you already agreed to them in the first place.

If you need help from FLM - are you experiencing actual financial difficulties, or is it that you're just a bit p'd off about having to pay and don't want to?

pippitypip