There is so much bad press...

[Deleted User]

jason1231972 wrote: »

Amigo loans do provide loans - many a poster here has one - but their rates are shocking, and guarantour loans are dodgy anyway (if you're on the guarantor end of the bargain!)

Yes I know. I'm just saying 'the no credit check' bit is a con as they are credit checking the guarantor. Who must have a good credit history and be a home owner.

Eonel

Deleted_User wrote: »

Yes I know. I'm just saying 'the no credit check' bit is a con as they are credit checking the guarantor. Who must have a good credit history and be a home owner.

Indeed. They don't really care who the money is for - in event of problems they go straight for the guarantor.

If the guarantor has a good credit rating and is a home owner, there is a good chance he could have borrowed the money from his own bank and saved himself & the loan recipient A LOT of interest.

Con Con Con Con Con.

jon1965

Well they won't credit check you as it's not you who is liable for the repayments.

RobertoMoir

freshstart11 wrote: »

What do other people feel about them? I am truly interested on any views xx

While it might be possible to use them "correctly", its all too easy to abuse them - and all too often the lenders encourage this, if you look at their advertising.

So while I'm not against the idea of them in principle, in practice the current lot that are out there leave a lot to be desired... sounds like a cue for a song actually:


As some day it may happen that a victim must be found,
I've got a little list--I've got a little list
Of dodgy lenders who might well be underground,
And who never would be missed--who never would be missed!
There's the irresponsible lenders who write "your money" when talking about loans
And the actors in their adverts who cry "easy terms" for filthy lucre
All the banks and building societies who say you can't cancel CPAs

Uh.. I'll stop now, mostly as I'm losing the tune.
But I've got 'em on the list, I've got 'em on the list, and they'd none of them be missed...

jon1965

And the competition is:
What are the real words for that song
What is it called
Who wrote it
Who sang it (singer or character)

RobertoMoir

jon1965 wrote: »

And the competition is:
What are the real words for that song
What is it called
Who wrote it
Who sang it (singer or character)

And next week's competition is to work "Three little maids" into a thread...

jon1965

Now that would be clever
(I did know some of the answers btw)