Guarantor.. HELP

KingElvis

Yep, some people out of the kindness of their heart (stupidity) take these things on for thousands, I pity them.

lilly2011

Do you have a bank account with an interest free overdraft or a credit card with 0% on purchases?

The interest on the FLM Quick Loan is so high that if you are making the minimum payment, it's covering the interest only so you need to get rid of this loan asap and onto something that will allow the balance to reduce.

Legally, i'm afraid the buck stops with you. Let her know you're taking legal advice or something similar to see if that will jolt her into making payments. Morally, how does she sleep at night as i hate the idea of owing banks never mind people i know.

Good luck

fatbelly

Just to add more bad news ... FLM don't hang around in taking court action if you don't pay. You are presumably a homeowner and working - they will be looking for a ccj, with a charging order or attachment of earnings to follow if you still don't pay.

The sensible advice is to pay it.

lilly2011

fatbelly wrote: »

Just to add more bad news ... FLM don't hang around in taking court action if you don't pay. You are presumably a homeowner and working - they will be looking for a ccj, with a charging order or attachment of earnings to follow if you still don't pay.

The sensible advice is to pay it.

I hope you don't mind me mentioning that for a FLM Quick loan, you don't need to be a homeowner, it's only for the normal FLM loans that the guarantor would.

RichGold

danielshaw007 wrote: »

I relucatantluy agreed to be a Guarantor on a loan for someone with a company called FLM Quick.. loan was £450.00 so nothing too major..

Madness. Pay off the loan yourself before the shysters at FLM destroy your credit rating.

It also sounds very much like you had no real understanding of what being a guarantor entails, so why did you sign up to something you weren't sure of?

skintandscared_2

Why on EARTH wouldn't you question why the "best mate" wouldn't be a guarantor for his own girlfriend??!! It's bad enough when people do this for their own family, but at least I can kind-of understand the motivation behind it. If your mate was any kind of mate, he'd step in and at least help settle the loan. It's down to him that you ever got involved with this scam artist.