Amigo guarantor loan help

Gaz83

CHR15 wrote: »

The borrower isn't someone who could be trusted anyway.
The whole point of these silly loans is to enable people who would not stick a chance of being accepted anywhere a last chance.

The borrower very much plays second fiddle in this Orchestra, nobody is expecting the borrower to repay the loan, aside from the gullible guarantor (perhaps not in this rare case though!).

I think it entirely right and proper the money goes into the guarantors account, he/she is ultimately the one responsible for repaying the money to the lender.

Get rid of them I say, for the sake a all the gullible guarantors out there who get saddled with the repayments.

It never fails to amaze me how many guarantors don't realise that they're ultimately the ones responsible for the payments.

It's almost like they think they're just providing a reference for the borrower.

kabayiri

Gaz83 wrote: »

It never fails to amaze me how many guarantors don't realise that they're ultimately the ones responsible for the payments.

It's almost like they think they're just providing a reference for the borrower.

You must have heard the radio ads.

They use an emotional play. The caring mother is acting as a guarantor for her daughter to build her credit rating.

It's clever and suggests that if you don't agree to be a guarantor, then you must by definition be an uncaring person not worthy of friends or family!

pvt

The most caring thing to do is not help someone to borrow money they can't afford to repay.