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Loan Guarantor

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  • Vikipollard
    Vikipollard Posts: 739 Forumite
    Tenth Anniversary 500 Posts Name Dropper Debt-free and Proud!
    JonathanStewart wrote: »
    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.

    Did said relative give you the money to transfer to a company account or did he ask you to pay off a debt for him? Sorry, I'm a bit unclear about this!
    LBM July 2006. Debt free 01 Sept 12 .. :T
    Finally joined Slimming World: weight loss 33lbs...target achieved 51wks later 06.05.13 & still there :j
    Aim to be mortgage free in 2022. Jan 17 33250 Nov 17 27066 Mar 18 24498 Sep 18 20608 Nov 18 19250 Jan 19 17980 Mar 19 16455 May 19 15024 Nov 19 10488 Feb 20 8150 May 20 5783 Aug 20. 3305 Nov 20 859 Mortgage free, 02.12.2020
  • jaybeetoo
    jaybeetoo Posts: 1,365 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Ask the loan company for a copy of the agreement you are supposed to have signed as the guarantor.
  • gb12345
    gb12345 Posts: 3,055 Forumite
    jaybeetoo wrote: »
    Ask the loan company for a copy of the agreement you are supposed to have signed as the guarantor.

    There is no point doing this until the loan company actually tell him that he is a guarantor.

    The fact that the company are ringing asking for the relative rather than the OP would suggest that it is just his address that has been used.

    If the loan company thought the OP was a guarantor for the loan then they would be asking for him not the relative.
  • Apples2
    Apples2 Posts: 6,442 Forumite
    If you use your account to make any kind of payment toward his debt, they will swoop into your account for the rest ( your details will become part of his account).

    Don't even consider doing anything like this.

    If you were a guarantor, they would have already taken money from you directly.
  • JonathanStewart
    JonathanStewart Posts: 68 Forumite
    Vikipollard wrote: »
    Did said relative give you the money to transfer to a company account or did he ask you to pay off a debt for him? Sorry, I'm a bit unclear about this!

    asked me to a pay off a debt for him, direct to the lenders account.
  • gb12345
    gb12345 Posts: 3,055 Forumite
    JonathanStewart wrote: »
    asked me to a pay off a debt for him, direct to the lenders account.

    As Apples2 says - do not let any lenders have your bank details, they will link it to his loan account and use it at will.
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