Employer Guranteed loans

DCFC79

Woodcock11 wrote: »

Thanks for all the construtive comments, and i have considered all the points above.

Just because im an accountant, doesn't automatically mean i have to wads stashed away in the bank, by the time i've paid my mortgage, nursey fees and bills theres not much left to save for a rainy day.

To me that would say to me I need to cut back on spending and other bills.

Tiddlywinks

Woodcock11 wrote: »

Just because im an accountant, doesn't automatically mean i have to wads stashed away in the bank, by the time i've paid my mortgage, nursey fees and bills theres not much left to save for a rainy day.

I have already asked my employer and they are happy to do so, i just need to find the company which provides it, i'm sure there is 1, as i printed off the forms previously.

I don't think accountants are any more or less well off than the rest of us; however, I do think that someone with financial training (and in the position of company accountant) should act more professionally at work.

You have now drawn attention to your financial difficulties twice and asked for your employer to help bail you out... this is not professional behaviour.

I am not trying to be judgemental or unkind - just honest.

You cannont run the risk of this happening again - how tolerant do you expect your employer to remain?

Have a look on this board, let them have your SOA (income / outgoings) and wait for suggestions.

http://forums.moneysavingexpert.com/forumdisplay.php?f=76

The bottom line is that something has got to give... either you reduce your outgoings or raise your income... otherwise, you'll be stumbling from one crisis to another without any emergency funds for any similar need.

Good luck.

pelirocco

Why would they agree to guarantee a loan yet not lend you the amount? it doesnt make sense tbh , they would have more control with the latter i would have thought .
It would also have to be reported to HMRC as a benefit in kind

ILW

They would also be liable for any penalties etc due to non or late payments.

skintandscared_2

They will also be required to provide some pretty intrusive company information to satisfy the lender that they are acceptable guarantors.

Guarantor loans are dreadful in the best of circumstances, but to know that the entire board of my employers were aware I needed that sort of help to get just £1k.... Not good.