guarantor loans

bywing2327

right thanks for all your comments, but surely if FLM are taking the money as and when they choose they are breaking their contract to us? and as all the conversations have been recorded could we go down the road of this product being mis sold to us?

bywing2327

Thanks anyway i think i will look into that and never be a guarantor for anyone again

fozmcfc

Good luck, do let us know how you get on, it could be useful info to others as well.

As I said before don't disappear never to visit the site or post again, this time of evening not so many are on, but later on hopefully you'll get more responses.

Emmzi

heh. it depens who recorded the conversations so has a copy "for training purposes."

I am guessing it is not you.

sharpy2010

bywing2327 wrote: »

Thanks anyway i think i will look into that and never be a guarantor for anyone again

Not quite sure why anyone would put their name up to risk a lot and gain absolutely nothing at all.

Seems daft in my opinion.

CH27

Why has your sister stopped paying?

bywing2327

It is not that she doesnt pay it is that she doesnt pay it on time. i get my money back from her a few days later but it is not the point. I need to teach her a lesson really. I think she thinks i am her safety net but i need her to learn that life doesnt work like that.

RichGold

bywing2327 wrote: »

if FLM are taking the money as and when they choose they are breaking their contract to us?

Firstly, the only person who has broken a contract here is your sister. She needs a wake up call.
Secondly, this loan was not mis-sold in any way. You and your sister signed up, she had the money, and FLM are doing what they do best by taking your money to repay it.

Your problem here is definitely with your sister, not FLM loans.

Apples2

bywing2327 wrote: »

could we go down the road of this product being mis sold to us?

Do you mean you are offering to give the 3000 back to them and forget the whole deal? Or just cancel repayments and forget the whole thing?

You do seem to be absorbing the message, this is your sisters fault.
There is absolutely no reason on earth why she should make any more repayments at all, let alone late.

You signed up willingly agreeing that you will make sure all payments are made on time. You gave them free access straight into your bank account to make it easy for them.

It is normal for the borrower to make a few late payments then stop altogether.

Cue family fall out, ironically the person in your position who has lost out ends up being rejected by the family.

evissa

FLM Loans allow you to pay off the loan in full whenever you like without incurring any payment penalties. If you and your partner can do this then it might be a goo idea, therefore you will have no hassle off the loans company...just the issue of getting the money off your sister each month.