Please please Advice wanted please

ukmartian

Please forgive this post , but i dont want any negatives saying I was stupid , as i know i was .....But 4 years ago I was a guarantor for my daughter to a company FLM now Amigo ..i stupidly didnt read the small print as i was a dad but get taken in by the phone spiel ...and got ripped off ...briefly we have had probs when both myself and daughter lost our jobs we have paid up some how ...however I am now working again although with a 30% salary reduction but my daughter got sanctioned last month and was unable to make her payment ...and the onus fell on me but I hadn't budgeted for their payment...I have answered them and spoken to them replied to their e mails ..read their letters ..they have tried to intimidate and bully me the last letter said they have contacted the credit agency as they considered i was not living at my address and said they were unable to contact me I have been threatened with legal action to collect the FULL OUTSTANDING BALANCE ...I have told them that as i have not budgeted for their payment and i would not be in any position to pay them for a few weeks ...they just will not accept my situation .......can they do this.... I have had 3 phone calls 4 texts and 18 e mails notifying me that the payment is late ...and that is in the last 3 weeks out of desperation I have spammed their texts and phone calls ... but I have responded to the e mails , but the stress is now causing family arguments ...I have other debts but other companies have set up payment plans and are more than happy and understand the probs i have ...can they chase me like this ...I have never refused to pay them ..but when you lose £500 a month in wages thing just dont add up ..oh by the way we are 2 weeks late .:(

DCFC79

Have they agreed to a repayment plan ?

You didnt get ripped off you just didnt read what you were agreeing to.

ukmartian

No they will not discuss a payment plan ..they have in the past quoted court action and charge orders on my property ...at the most we have only ever been a few weeks late ...and yes i didn't read the small print ...a expensive and naive mistake , i trusted my daughter and listened to the sales spiel....strange when i asked to hear a recording of it they said the recording had been lost ....

longtermplanner

If this is 4 years in, there can't be much left to repay I hope.

I suggest you contact Stepchange and ask them to set up a payment plan for all your debts including this Amigo loan.

brendon

longtermplanner wrote: »

If this is 4 years in, there can't be much left to repay I hope.

At 49% APR, £1 becomes £5 over 4 years. If they've been struggling to pay, it's likely their repayments are have had no effect on the principal outstanding.

ViolaLass

You suggest that payments have been missed before.

What is your daughter doing to pull herself out of this? Can she work some more hours? Sell some stuff?

ukmartian

you are correct we have already paid more than we borrowed and the loan is only just started to go down ......my daughter has always tried to pay on time and in most cases has but on the occasions where she has had trouble i have picked it up ....but circumstances change most companies will accommodate you to some extent with reduced payment plans till you get back on your feet , but not this company they will hassle and bully and threat ....even after a few weeks late ....

ViolaLass

Again, what has your daughter done to avoid this? Has she contacted them before missed payments or only after? Can she pick up more work or sell things?

Yes, they can chase you. You agreed to pay if your daughter didn't.

ukmartian

ViolaLass wrote: »

You suggest that payments have been missed before.

What is your daughter doing to pull herself out of this? Can she work some more hours? Sell some stuff?

...

that is why we got the trouble ...my daughter is starting a job at the end of the month it should have been 2 weeks ago , but she has been waiting for her CRB which had been lost this has delayed things as it is working with babies ....her benefits were stopped 4 ago as she did not attend a meeting for a job at the JC as she was due to start the new job despite telling them why she could not get them re-instated...she has lost 4 weeks JSA and had already left her little part time job ...that is why we have told them we will make some sort of payment by the end of the month .....

Gaz83

Your posts heavily suggest that missed payments have been a fairly regular occurrence. I would think that this is the reason they're reluctant to enter a payment plan with you - it could be they're thinking that "enough is enough".

No-one's going to judge you but ultimately the company have done nothing wrong. You agreed to pay the loan if your daughter didn't.

The best advice you'll get is for both you and your daughter to contact Stepchange, a charity set up to help people struggling to repay their debts.

As your daughter's start date at work was delayed, couldn't she have attended her DWP meeting?

dealer_wins

Its amazing how so many people agree to being guarantors.

Seriously how can it be confusing, misunderstood.

You are agreeing to guarantee someones loan payments if they fail to make them, its really not rocket science!!