Loan issues - with guarantor issues

malkyh

Your guarantor should have known what being a guarantor actually means. They can threaten all they like, they are responsible for the debt should you not pay.

Do they think threatening your life is going to get them off the hook? Laughable. Go to the police and report them.

If they killed you, then they'd still be responsible for the debt.

DCFC79

malkyh wrote: »

Your guarantor should have known what being a guarantor actually means. They can threaten all they like, they are responsible for the debt should you not pay.

Do they think threatening your life is going to get them off the hook? Laughable. Go to the police and report them.

If they killed you, then they'd still be responsible for the debt.

Apprently the OP said she explained to the friend what a guarantor meant but whether it wasnt fully explained or not only the OP knows.

malkyh

Fair play, but if someone asked me to be guarantor on a loan, and I didn't know what a guarantor was, I'd damn well find out before I agreed.

Bravehearted_2

lolalily21 wrote: »

i gave them all of the details of the guarantor criteria and what they would have to agree to, they agreed to be guarantor off their own back they agreed totally and said they didnt have a problem, obviously we discussed the implications, but they signed ayway, i wasnt expecting my life to change like this but it has... yes i feel terrible about it but i have tried to speak with them and tell them to contact the cccs themselves to re-route the debt from their side too aswell as mine, but violence seems to be their answer

Yeah right. Wash your off hands it.

I'm guessing you didn't emphasise that if you stopped paying, they would be wholly liable.

More often than not, people who need guarantor loans misrepresent the gravity of the implication to their guarantor. Unfortunately, these guarantors neglect to do their homework.

Curr946

Bravehearted wrote: »

Yeah right. Wash your off hands it.

I'm guessing you didn't emphasise that if you stopped paying, they would be wholly liable.

More often than not, people who need guarantor loans misrepresent the gravity of the implication to their guarantor. Unfortunately, these guarantors neglect to do their homework.

and they didn't tell their friend about this, he/she has mystical powers and guessed his/her friend needed a guarantor and was only to happy to sign the document...

now.. here is where it becomes an even bigger risk for your friend... is he/she a home owner? s so... they will go for a charge order against it...

27col

CHR15 wrote: »

Get your friend to make a post on here, we'll tell them exactly what being a Guarantor meant.

By now I think that they have probably worked out for themselves what being a guarantor means.

malkyh

27col wrote: »

By now I think that they have probably worked out for themselves what being a guarantor means.

When they change their address to Park Bench 4, Town Centre Gardens?

DCFC79

27col wrote: »

By now I think that they have probably worked out for themselves what being a guarantor means.

Yes you get screwed when the loanee fails to pay the loan.

glasgowsaver2011

If they are threatening yoru life go to the police

Apples2

I think Lola is already under the patio.