Guarantor adivce

misterbumble

Hello,

Someone recently asked me to become a Guarantor for a loan. After giving it some thought (not enough) I said yes and signed the form.

Missed a call off the company today and received a text off them saying they needed to speak to me asap regarding it.

I've now changed my mind and don't want to do it for the obvious reasons. However I am worried that because I have already signed I can't get out of it.

I assume, as they need to speak to me asap, that they won't be able to give the loan without speaking to me. I don't think they have my bank details yet so am hopeful that I maybe can still get out of it, despite being slightly worried that I can't.

What would be the best course of action? If I speak to them would I be able to get out of it just by being honest and saying I don't want to do it? Or should I tell a little fib and say I have to sell my house due to financial difficulties (therefore no longer fulfilling the criteria of becoming a guarntor)?

Or should I just ignore their calls altogether and hopefully they will just refuse the loan as they are unable to contact me?

Thanks in advance.

jonesMUFCforever

If you have already signed it may be too late.
Contact them ASAP before they lend the money out.