Need help

Helvetica_Van_Buren

If you can afford the monthly repayments of a loan that means you must currently have spare money at the end of each month; however, based on your posts I strongly doubt this to be the case.

Which means you have no real intention of repaying the loan and that will mean you leaving the guarantor to pay it.

Even if you had every intention of repaying it, if we're being honest it's unlikely you have the ability to and so again, the guarantor will be stuck with the debt - whether you intended to repay it or not.

If you had any sort of conscience you wouldn't ask anybody to be your guarantor.

On a more general note: this forum is great for getting your money issues in order.

foxy-stoat

I agree, you do !

dealer_wins

bellatobey wrote: »

That's tough. You can ask an expert on financial stuff for a much clearer explanation on what you need to do to deal with your problem.

Thanks for that pearl of wisdom. About as useful as a chocolate teapot.

Pixie5740

emmayeah wrote: »

Hi, im looking for aome advice i need to raise £2700 before the end of march or sooner, to move in a new place with my partner.
I have current income of £1000 a month.
My credit history is poor i thought about a guarantor loan but dont know who to ask or how they work.
any advice would be great

Why do you need to raise the money before the end of March? What is the driver for moving before you have the funds to do so as there might be an alternative solution available. Talking to your boyfriend and explaining that you haven't saved enough money would be a good start. If you cannot be honest about this then you are not ready to move in together. Does he earn significantly more money than you do?

Candyapple

emmayeah wrote: »

Thanks guys, My boyfriend has been saving a little, and i have bee stupid thinking i could put the same as him towards ive stupidly spent some of the cash and worried now.

If someone was a guarantor would the repayments come from there bank account? or mine?
Thanks for the advice

You sound quite young, have you asked your parents if they can help you out and you sort out a monthly repayment plan amongst yourselves?

£2,700 between 2 people = £1,350 each. Is the £2,700 made up of month and a half deposit? If so, assuming the rent would be £1,000 per month, what is the remaining £1,200 for?

Can you afford your half of the monthly rent given you only earn £1,000 per month? What about bills, travel expenses, food etc.?

Does your boyfriend know you can't meet your half of the cost? What happens if you can't save the money or find a guarantor in time?

oldhand

Think the general consensus on here would be never take out a guarantor loan,because of the very high level of interest but also because if,some would say when it goes wrong the guarantor whoever they are finds themselves suddenly paying for something that many never actually understood they would when they signed the paper.
If you look up past threads on here about guarantor loans you can see just how many friendships and families have been split over them...

27col

oldhand wrote: »

Think the general consensus on here would be never take out a guarantor loan,because of the very high level of interest but also because if,some would say when it goes wrong the guarantor whoever they are finds themselves suddenly paying for something that many never actually understood they would when they signed the paper.
If you look up past threads on here about guarantor loans you can see just how many friendships and families have been split over them...

I think you'll find that the consensus on here is NOT to be a guarantor. Unless you can afford to lose the money.

TadleyBaggie

Spam reported.