Amigo Loans Question

Treadmill

Deleted_User wrote: »

Is this not the opening scenes of The Godfather?

Bonasera... Bonasera... What have I ever done to make you treat me so disrespectfully?

Late_To_Bed

Deleted_User wrote: »

Is this not the opening scenes of The Godfather?

LOL.

So if someone did you a favour which went way beyond what a friend would normally do for you, you wouldn't feel dutibound to at least try to help him if he needed a favour?

Late_To_Bed

Tixy wrote: »

It won't improve his credit rating - if a payment is missed it would affect yours.

For credit building have a look at this article about subprime cards, secured cards and last resort creditbuilder prepaid cards - Credit Cards for Bad Credit: Poor credit guide - Money Saving Expert

Thanks for the link.

Very helpful.

[Deleted User]

I would. But I wouldn't put my financial future on the line. Unless he'd given me a kidney and his first born child.

But only you know what you need to do. But you can also help him with advice and support, rather than putting your credit rating on the line.

McClane54

if he doesn't need a loan then dont get one, if anything these cowboy companys wil look bad for the both of you, get a credit card from vanquis or aqua

Tixy

Deleted_User wrote: »

I would. But I wouldn't put my financial future on the line. Unless he'd given me a kidney and his first born child.

But only you know what you need to do. But you can also help him with advice and support, rather than putting your credit rating on the line.

Why do you want someone's first born child???
And more importantly how much will you pay?:D

poppasmurf_bewdley

Late_To_Bed wrote: »

Ha!

Quoted for truth.



He doesn't actually need a loan atm but will do so in the not too distant future, so we just thinking about this as a way of improving his score.

That statement alone says it all. He has not changed his wayward ways and is still cavalier about money.

And you trust him?

(By the way, I have some very special shares which I think you may be interested in. As a very special favour to you, I could sell you some at a good discount. Contact me on the MSE messaging service).

Jules2012

What if something happens? Like he loses his job? Or he cancels the DD in error? Then payments get missed. These type of loan companies move quick to cash in.

27col

You don't really get it, do you. A guarantor loan is your loan, not his. If he defaults then you pick up the tab, and it's a big tab, and it's entirely your tab. He has already proved that he is almost certain to default, as he has done in the past. As someone has already said, it would be cheaper for you to take out a loan in your own name, because that is effectively what you are proposing, but at a much higher interest rate.

DCFC79

OP can I just ask, you say you trust him, how much do you trust him ? Would you trust him to keep up with the payments ? and not stitch you up.

IF in the you still feel you do trust him 110% then go with a loan from Amigo Loans.
You could help him in another way by sorting out his income/expenditure issues.