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Loan guarantor -Forged signature
A relative living under the same address has taken a loan out unbeknown to me and forged my signature as a guarantor.I have now received a letter from the loan company stating the following :
"You have received this letter as we believe at 12:00 Monday 25th December you electronically signed through our website, agreeing to stand as a guarantor for a loan....As a guarantor ,if the (person taken out the loan)failed to make a payment and we couldn't agree on a resolution,you would be required to pay instead..."
Where do I stand on this one?
"You have received this letter as we believe at 12:00 Monday 25th December you electronically signed through our website, agreeing to stand as a guarantor for a loan....As a guarantor ,if the (person taken out the loan)failed to make a payment and we couldn't agree on a resolution,you would be required to pay instead..."
Where do I stand on this one?
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Comments
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Plain and simple. Forging your signature is fraud and should be reported to the police to protect yourself.
As an aside, as protection, the loan company will pay the loan into the account of the Guarantor not the loan applicant. Has this happened?"There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
No payment has been made to my account no.Does that mean that the application didn't go through?0
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No payment has been made to my account no.Does that mean that the application didn't go through?
I can't say. Have you spoken to the loan company and told them you haven't signed any such agreement?"There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
Name the loan company.
Have you spoken to the relative to ask what they have done?
You need to check your files to make sure they haven't taken any other credit agreements out in your name.
The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Equifax: https://www.clearscore.com
Call Credit: https://www.noddle.co.ukI'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
The loan company is Amego.I don't want to report the relative but I want to make sure that the loan company has not transferred money into their account0
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You must note that if you do not report this to the police and are unwilling to go through with the fraud investigation, the firm will likely assume you are just trying to get out of the debt.
Report the fraud.
Ring the company and say this is fraud and you do not agree to be the guarantorSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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The loan company is Amego.I don't want to report the relative but I want to make sure that the loan company has not transferred money into their account
You have no alternative unless you want to be regarded as the guarantor and will cough up when (it's not going to be an if) he misses one or more payments."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
what are the implications for the person that took out the loan if reported to the loan company?0
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what are the implications for the person that took out the loan if reported to the loan company?
I would imagine the police may be involved which is how it should be.
Ask Amigo what is the process eg does the money go into your account ?
Have you asked the relative if it they did it ?0 -
https://www.amigoloans.co.uk/question/what-will-you-ask-my-guarantorWhat will you ask my guarantor?
We have made our loan process as simple and stress-free as possible for both you and your guarantor.
Once you have completed our five minute application, we will give you a link for your guarantor so they can complete their part.
Your guarantor will be asked to complete a simple online budget plan. This will cover their monthly income (such as salary, pension and benefits) and any outgoing costs to make sure the loan payments are affordable. This is just in case your guarantor ever did need to step in and make payments.
When your guarantor has done this, we will give them a quick call to confirm their details, check they understand their responsibilities and to arrange paying out the loan.
https://www.amigoloans.co.uk/question/what-is-the-guarantor-processWe pay the loan out into the guarantors bank account, not the borrower's. We do this to protect against fraud and ensure the guarantor is aware the loan has been paid out. The guarantor can either transfer it to the borrower or give them the cash.
So, did you receive a phone call and the money in your bank account?
Has your relative opened up a new bank account in your name I wonder?I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0
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