Brother problems

Pollycat

himynameisaaron wrote: »

My brother has just sent me a text saying:

“Aaron, can I use you as my guarantor because I’ve got a low credit score”.

My credit ‘score/history’ is not all that great either. What do i do?

Read this thread then decide.
There's lots of advice about being a guarantor (or not being a guarantor, as the case may be).
Familiarise yourself about the financial implications of being a guarantor for anyone before you sign anything.

elsien

Do you want to and/or can you afford to pay his loan/credit card/rent/ whatever it is he is asking you to guarantee if he defaults?
If the answer is no, then you've answered your own question.
A guarantor should always work on the basis that they may end up having to make the payments, and make the decision from that starting point.

System

With the state of my credit history, am unlikely to be his guarantor and so that is what I have told him via. text message. I have been failed for credit cards/loans/mobile contracts etc, so I’m not going to further damage my confidence by having yet another credit check that will fail for his car.

Pollycat

himynameisaaron wrote: »

With the state of my credit history, am unlikely to be his guarantor and so that is what I have told him via. text message. I have been failed for credit checks/loans/mobile contracts etc, so I’m not going to further damage my confidence.

It wouldn't be a case of damaging your confidence - more like totally wrecking your financial future.

System

Pollycat wrote: »

It wouldn't be a case of damaging your confidence - more like totally wrecking your financial future.

Yes, more than likely.

He’s sent me another message saying: “It doesn’t have to be mint [credit history] I just need someone who has a credit history”. I sense he’s been led on by my mum and at the moment, I’m feeling pushed to say yes. Even though I want to say no.

maman

Having followed your thread I'd say an emphatic NO!

You're only just in the throes of sorting out your own finances and still very tied up with your mother and benefits. The last thing you need is a complication that could easily end up with you taking on someone else's debt. Your brother hasn't got a poor score for nothing. If a finance company see him as a poor risk so should you.

System

At the end of the day I’m not going to have someone take advantage of me which sounds like it. It’s my money so can do what I want with it.

maman

himynameisaaron wrote: »

At the end of the day I’m not going to have someone take advantage of me which sounds like it. It’s my money so can do what I want with it.

You posted about confidence so take your own advice. Text back no. Tell him you don't want to take the risk. Then just ignore any further pleading from him or your mum. They can't make you. Be strong!

System

Thank you :-)

Primrose

For Heavens sake, JUST SAY NO. you will probably live regretting being so weak willed when everything goes pear shaped, when you will be wondering why other people dont find themselves in this position.