Amigo

OneLife_OneShot

Please don't judge me I made some mistakes after I finished uni with credit and stuff and it was my problems but my family wants to see me pay off this loan as basically they have the control of it, I know £1500 is not a massive amount that is why they agreed to do it, so rather than pay a fee for a bank account each month and my phone bill and a credit card I am paying them all off and paying the £68 a month back on this.

For me this is a lot cheaper and can help me re-build my credit or so I am told, the bank wouldn't give me a loan due to one stupid default 2 years ago which was due to an ex using my Argos Card and it going over the limit. I had no idea until the debt letter appeared.

A member of my family has agreed to be a guarantor for me, they only agreed this as long as I pay them the £17 per week in person which I can definitely afford (repayments are £68p/m on a £1500 loan).

I notice the only people on here who have problems are people who did not pay back the loan much like PDL problems, has anyone actually used this company and can give some feedback.

I know everyone will think I am mad but its the only real option going right now, its basically a consolidation loan which I will honour.

Thank you.

nuttyp

No idea, but if you agree to pay more everyweek, would this be possible? It might reduce the amount of interest you would have to pay. How many months are you looking at paying over?

CLAPTON

absolutely NO


do theyknow and understand what a guarantor loan is?

if your relative wants to help , let them get a loan at a good rate and then you pay them back on the weekly basis

the risk to them is the same,
they are totally in control of their own liability and credit rating


if you don't pay, then the financial consequences to themselve are the same except that their credit rating isn't trashed as well as yours