Wild Goose Chase

Apples2

djrenegade wrote: »

Well I have never actually missed a payment in my life on anything, so I guess people just have a lot of trust for me.

Zopa don't see it that way.

Seriously, take a step back from this mess and approach your own bank for a loan.
You are disappearing down the High Risk bottom feeder loan route which should be reserved for previous defaulters and those who wear arrears reports like a badge of honour.

Tixy

Guarantor loans are madness - far better to get the guarantor to get out a much cheaper loan in their own name and you just pay them back.
As Apples say guarantor loans are really targeted to people with a wrecked credit file - if that is not you then its unlikely to be the best solution in your situation.

What APR are you being offered on this loan?
And how does that compare to the APR on your existing debts? Have you compared how much interest you will pay if you just keep repaying current debts compared to taking on the guarantor loan?

debtcutter

I got a gaurantor loan a few years back and it worked really well

Not everyone defaults on payments, I assume the lender will speak to the gaurantor over the phone to explain what they're signing up for

Some people would rather have the loan in their own name, so they can start to rebuild their credit score. When I took mine, I didn't pay it off over the whole period, after a while I got a much lower apr and cleared it all and saved a lot of interest. I also got a 0% balance transfer credit card and cleared my higher ones.

It did actually sort me out. My mum only ever got contacted once, as my debit card had expired so they text her to say i missed payment that day, she called me, then i phoned to give my new card and pay.

she didnt' take it out for me as she didn't want to pay it every month and have me pay her, she wanted me to manage it myself