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Need some advice for a friend
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Acting as a guarantor is more or less the same as giving her the money if her credit rating is that shot to pieces. She has nothing to loose by failing to repay, you do, which is what the bank is relying on.
Unless you can afford to lose the money don't do it. If you can afford to lose the money, you may as well do it without the 50% APR on top and just pay her debts off (if this is a really good friend). This probably won't solve the problem though and it would be surprising if you saw more than a token amount back.
She should visit CAB who may help with sorting out a repayment plan of some kind. More debt is not the answer though."Every single person has at least one secret that would break your heart. If we could just remember this, I think there would be a lot more compassion and tolerance in the world."— Frank Warren0
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