Should I Lend him/Them the money?

TrueUnitedFan

My brother was a guarantor for my other brother for a FLM loan.

My brother didn't keep up with the payments, and just left it, he promised the my other brother that he would phone them up and sort something out. He didn't do it and today, my brother got a letter informing him he had a CCJ because of it.

My brother who signed for the loan, is extremely !!!!ed off as anyone else would be if they signed as a guarantor for someone and they ran off/didn't pay.

He has 28 days, to pay it off, but he said realistically, he's got around 15 - 20 days as FLM has too sent the letter if the 1.3k owed is paid to the courts, so not long to find the cash.

My brother has a mortgage, joint one with his Girlfriend, but the flat is getting sold, should be fininalised at the end of this month.

He's extremely angry as he said no one will touch him now if the CCJ isn't removed, and he/girlfriend won't be able to get a mortgage, as no one will touch them with a CCJ being their/CCJ will affect her also.

I suggested to my brother to try and get a loan with the police as he is a police officer and he can get police loans but he said he can't with the CCJ being there and he doesn't want to try anyone else as he doesn't want to get into anything with HIGH interest due to the CCJ.

Question is, i just sold my website, and i've got 1.2k, should i lend them/him the money to pay it off? I'm not being mean or anything, but i don't want to give it to them. I should pass my test in the next 2 -3 months so that time, i will be looking to get a car, and pay monthly installments on the insurance. I'm 18 and i have no steady income. Unless they can in any way guarantee that i will get all my money back in the next 2 - 3 months WITH some interest. I can't see myself giving them all of my hard earned cash to get rid of this CCJ.

aliasojo

TrueUnitedFan wrote: »

I'm not being mean or anything, but i don't want to give it to them.

I'm not really sure why you asked then.

Don't do anything you feel uncomfortable about.

Given that loaning the money would totally wipe you out, perhaps it would be more prudent to not get involved in this.

LovelyLeeds

TrueUnitedFan wrote: »

I'm 18 and i have no steady income..

https://forums.moneysavingexpert.com/discussion/3681263=
Please quit with the trolling it's tedious.

aliasojo

LovelyLeeds wrote: »

https://forums.moneysavingexpert.com/discussion/3681263=
Please quit with the trolling it's tedious.

aliasojo wrote: »

........ perhaps it would be more prudent to not get involved in this.

Ah....goes off to take own advice. :rotfl:

Bravehearted_2

LovelyLeeds, I don't see a correlation between his two threads to conclude that he's trolling.

OP - first, how was a CCJ awarded without both brothers knowing - didn't they write first?

Your giving them the money doesn't guarantee that the CCJ will be removed anyway, but if you do, get them to sign something enforceable. Your police brother should be willing to agree to this?

LovelyLeeds

aliasojo wrote: »

Ah....goes off to take own advice. :rotfl:

*goes off to take it too!*

aliasojo

Bravehearted wrote: »

LovelyLeeds, I don't see a correlation between his two threads to conclude that he's trolling.

TrueUnitedFan wrote: »

I'm 18 and i have no steady income.

TrueUnitedFan wrote: »

I earn 700 pm after tax and i have 250pm to play with.

There does seem a bit of a discrepancy.

LovelyLeeds

aliasojo wrote: »

There does seem a bit of a discrepancy.

How odd!

TrueUnitedFan

aliasojo wrote: »

I'm not really sure why you asked then.

Don't do anything you feel uncomfortable about.

Given that loaning the money would totally wipe you out, perhaps it would be more prudent to not get involved in this.

Your right. I don't think i will.

LovelyLeeds wrote: »

https://forums.moneysavingexpert.com/discussion/3681263=
Please quit with the trolling it's tedious.

LovelyLeeds. I don't know what your trying to say. Yes i do have a job, but it's on probation, so once the probation ends, i could have no job. So it's not a steady income. So you stop the trolling.

Bravehearted wrote: »

LovelyLeeds, I don't see a correlation between his two threads to conclude that he's trolling.

OP - first, how was a CCJ awarded without both brothers knowing - didn't they write first?

Your giving them the money doesn't guarantee that the CCJ will be removed anyway, but if you do, get them to sign something enforceable. Your police brother should be willing to agree to this?

In fact, they did get numerous letters over the months telling my brother who signed as the G, that the other person wasn't paying - other brother said he was going to pay, but didn't i guess it was my other brother's fault also for not also sorting it out.

Yea i'm sure he would be willing to agree to signing some sort of an agreement which make sure i would 100% get my money back.

LovelyLeeds

TrueUnitedFan wrote: »

. So you stop the trolling.

I'm clearly off my trolley...

henrik1971

Difficult to feel sorry for the brother who signed as guarantor.
The original lender obviously was concerned about being repaid, hence the need for a guarantor. I've seen similar situations like this before.

The guarantor brother should have only co-signed if he was awash with money and could easily afford to repay if things went pear-shaped. To deliberately choose to decide to put yourself at risk like this AND contractually bind yourself in to accepting the consequences of that risk......I feel sorry for the creditor, not the brother, who now it comes to it, can't live up to the commitment he made when he signed the contract.