Amigo Loan Guarantors - Taking your sister to court

-taff

Candyapple wrote: »

Take the blinkers off. Regardless of how much the repayments are per month - if she was a decent person she would have ...

..not stolen someone else's money that they gave her in trust and then effectively, stolen it from the OP too.

CumbrianWolf

-taff wrote: »

No, she won't be in debt to you unless you take her to court.



As YOU are the guarantor, once you've paid Amigo in full, the debt no longer exists. You have no contract with your SIL for her to pay you. She is not legally obliged to pay you anything.

and I think that is why we feel we must take her to court if there is ever any chance of getting anything back.

Paul_DNAP

CumbrianWolf wrote: »

and I think that is why we feel we must take her to court if there is ever any chance of getting anything back.

With the Amigo loan you have a contract which basically states "WE will borrow the money, YOU will spend it and I will pay it back if YOU don't" which means that you have already agreed with her that it is okay for her to do what she has done to you.


So what grounds outside of the Amigo loan do you have to convince the court that she legally owes you the money?

CumbrianWolf

Paul_DNAP wrote: »

With the Amigo loan you have a contract which basically states "WE will borrow the money, YOU will spend it and I will pay it back if YOU don't" which means that you have already agreed with her that it is okay for her to do what she has done to you.
So what grounds outside of the Amigo loan do you have to convince the court that she legally owes you the money?

I take your point but I don’t believe anywhere the amigo loan text you are totally and wholeheartedly accepting their debt outright as you put it. Only to give cover if and that is if you need to pay. I don’t think it is explicit in the sense that you are accepting it.

from what you say it would make it sound like every similar instance where a guarantor would go to court they would lose on such grounds. I’ve not idea what has happened in similar cases all I know is Amigos have told us they would support us and tell us "were not the first, we won’t be the last" but they (my sister in law) wouldn't have a leg to stand on.

Rainbowgirl84

Candyapple wrote: »

Take the blinkers off. Regardless of how much the repayments are per month - if she was a decent person she would have at least tried to contribute whatever she could towards it to at least prove to you and her sister that she was taking full responsibility and that by you both helping her out in her moment of need was not in vain. That would mean forgoing the mani/pedis, the Sky TV, the nights out etc. and sorting out a payment plan with her ex or at least something. By her not even acknowledging the debt now and knowing that you and your partner have essentially inherited her debt is a real bleep move.

She is a silly woman really, abandoning her family relationship over money.

Sadly this thread is just another warning example to add to the list of threads when new users ask about becoming a guarantor to a family member who would never dream of not paying them back...

My brother did so over less than 2k. He went the USA with his son after meeting and marrying US born bunny boiler in the UK despite all my advice He left with £30k in his pocket and returned less than 12 months later with nothing at my expense. Not one penny was repaid and absolutely no effort to do so.

Rainbowgirl84

CumbrianWolf wrote: »

I take your point but I don’t believe anywhere the amigo loan text you are totally and wholeheartedly accepting their debt outright as you put it. Only to give cover if and that is if you need to pay. I don’t think it is explicit in the sense that you are accepting it.

from what you say it would make it sound like every similar instance where a guarantor would go to court they would lose on such grounds. I’ve not idea what has happened in similar cases all I know is Amigos have told us they would support us and tell us "were not the first, we won’t be the last" but they (my sister in law) wouldn't have a leg to stand on.

This is what Amigo says:-

The guarantor's responsibility is to make loan payments if the borrower doesn't.

So as long as your s-I-l isn't paying you are liable. Amigo will 'support you' until you don't pay and then they will come after you to do what you agreed to.

macman

Clearly you don't understand what being a guarantor means. It means that you have liability jointly and severally. If she can't or won't pay, they'll come after you. Amigo may well be sympathetic, but they want their money back and will pursue you to get it, as it is equally your debt, and you have shown that you have the ability to pay it.
She may well owe you the repayment morally, but legally she owes you nothing whatsoever, and no court is going to find in your favour.

antrobus

-taff wrote: »

No, she won't be in debt to you unless you take her to court.

The guarantor has the right of subrogation. As in, they step into the shoes of Amigo. So the debt does exist.

Enforcing repayment might require going to court.

antrobus

macman wrote: »

..

She may well owe you the repayment morally, but legally she owes you nothing whatsoever, and no court is going to find in your favour.

Nonsense. Read up on subrogation.

Aromazone1

Hi
We have the same situation with Amigo loans. It was my son who stood Guarantor stupidly for an ex girlfriend. She decided she wouldn’t pay anymore so he was left with the debt. Due to the high interest rate we decided to get another loan at a less rate and he is now paying that monthly and the Amigo loan has been paid off. Altho Amigo agreed with us about circumstances they couldn’t do anything and at the end of the day just wanted their money.
We have been advised by Police that it’s probably not worth pursuing her for the money as she won’t pay anything, but I’d just like to make her life uncomfortable now as she has made my sons.
She has also committed various financial things against my son which is currently being investigated by the Police but it’s taking forever and she still texts my son vile threats when she seemingly gets information from other sources. She is a vile person and is also now pregnant.
She’s just made our lives hell.
Hope you get sorted out but if like us we think we will just have to put it down to experience and never stand as guarantor ever again.