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Rights and Options as Guarantor

Theguy04 · 2018-09-12 23:17:51

Hi guys, I am guarantor of someone who I am not having good agreements lately. Plus he have been very late in his repayments and few months ago they attempt to collect money from my account. I feel that I dont want to be involve in this anymore. I wonder if I close my bank account (which is default in the loan) and just…

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foxy-stoat Posts: 6,879 Forumite

18 September 2018 at 11:36AM

Theguy04 wrote: »

He still owes around £10500 (and he was lend 10,000), he suppost to owe less by now but because sometimes he pays late, the montlhy interest sometimes comes higher or similar to the value of his month repayments (which is around £300 or £400)

Best get a loan for £11,000 then, as they will add a couple of months interest when you ask for a settlement amount.

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