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Loan Guarantor

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This is a sensitive situation so private replies would be welcome, although I will discuss the general detail here.

What legal right does a creditor have on my money/assets on an unsecured loan to a family member where I, without my knowledge, have been named as a guarantor?

The issue of forgery (which it might well be) is a separate one obviously.
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  • gb12345
    gb12345 Posts: 3,055 Forumite

    What legal right does a creditor have on my money/assets on an unsecured loan to a family member where I, without my knowledge, have been named as a guarantor?

    They have the right to take action against you for the loan that they believe you guaranteed (including court, gaining CCJs etc) - until it has been proven that you have been the victim of fraud.
    The issue of forgery (which it might well be) is a separate one obviously.

    I would say that is the main issue and the one you should be concentrating on first.

    Have you reported this to the police?
  • gb12345 wrote: »
    They have the right to take action against you for the loan that they believe you guaranteed (including court, gaining CCJs etc) - until it has been proven that you have been the victim of fraud.



    I would say that is the main issue and the one you should be concentrating on first.

    Have you reported this to the police?

    Thanks

    I'm not clear if forgery *has* occurred - how can I check if I am the guarantor for a loan - which I have only circumstantial evidence for.

    Would it show up on my credit file?
  • maginot
    maginot Posts: 484 Forumite
    Part of the Furniture Combo Breaker
    I would be concentrating on the forgery foremost and is definitely not separate. If you did not sign as a guarantor, then you need to report this to the finance company and to the police.

    They will want you to report this to show that it is fraud, just saying you are not the guarantor is unlikely to be sufficient.
  • gb12345
    gb12345 Posts: 3,055 Forumite
    I'm not clear if forgery *has* occurred - how can I check if I am the guarantor for a loan - which I have only circumstantial evidence for.

    You can only be a guarantor if you signed the application form agreeing to it. If you didn't sign the form then either you aren't a guarantor or forgery definitely has taken place.

    What exactly is the circumstantial evidence that makes you believe you are a guarantor?
  • I think you will find that if you are a Guarantor for a loan, then the loan should have been paid into your bank account, not into the account of the person wanting the loan. This is to guard against fraud.

    Has money been paid into your account?
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • gb12345 wrote: »
    You can only be a guarantor if you signed the application form agreeing to it. If you didn't sign the form then either you aren't a guarantor or forgery definitely has taken place.

    What exactly is the circumstantial evidence that makes you believe you are a guarantor?

    Phone calls to my home from companies asking for a close relative of mine who has taken out a loan - I don't live with this relative. the same relative asking me if I could transfer money to a company account to pay off one of his debts. I know this family member is heavily indebted and *could* be driven to fraud - they are denying of course that my name has been given as a guarantor for anything by them. I don't necessarily believe them. But given the stakes, I have to find out for sure one way or another.
  • I think you will find that if you are a Guarantor for a loan, then the loan should have been paid into your bank account, not into the account of the person wanting the loan. This is to guard against fraud.

    Has money been paid into your account?


    No, none has - thank you for that information very helpful.
  • 27col
    27col Posts: 6,554 Forumite
    I think you will find that it is not possible for someone to " give your name as guarantor" as you say, unless you have sighed something to that effect.
    I can afford anything that I want.
    Just so long as I don't want much.
  • gb12345
    gb12345 Posts: 3,055 Forumite
    Phone calls to my home from companies asking for a close relative of mine who has taken out a loan - I don't live with this relative.

    Sounds more like the relative has used your address to apply for a loan (probably to avoid the lender finding out about his poor credit history), rather than used your name as a guarantor.

    If that is the case then the loans are nothing to do with you and you are not responsible for them in any way.

    If they ring again, I would tell them that he has never lived at the address and give them his real address and phone number.

    He can then take man up and take responsibility for his debts rather than leaving you to field the calls and potential visits.
  • 27col wrote: »
    I think you will find that it is not possible for someone to " give your name as guarantor" as you say, unless you have sighed something to that effect.

    well he could have forged my signature, but as I say, I have no concrete evidence that this has in fact occurred.
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