daughter became guarantor

foxy-stoat

Blackpool_Saver wrote: »

How much is it and how much is the interest rate?

Already asked that....just waiting for a reply.

Blackpool_Saver

foxy-stoat wrote: »

Already asked that....just waiting for a reply.

Yes, if she has a good credit rating to preserve a better rate loan would be a solution, if not it could join the rest I suppose :eek:
Let's hope it is the former

ThePants999

Worth checking that the guarantee agreement was valid. For a contract to be valid, either both parties must receive something from it (a "consideration") - which is hardly ever the case with a guaranteeship - or it must be executed as a deed (requiring, among other things, that the signature be witnessed). Sometimes that's overlooked, resulting in a guarantee that's not legally enforceable.

foxy-stoat

ThePants999 wrote: »

Worth checking that the guarantee agreement was valid. For a contract to be valid, either both parties must receive something from it (a "consideration") - which is hardly ever the case with a guaranteeship - or it must be executed as a deed (requiring, among other things, that the signature be witnessed). Sometimes that's overlooked, resulting in a guarantee that's not legally enforceable.

Really, a Guarantor receives consideration...from who? Normally their wallet is on the block until the loan is repaid.

MEM62

ThePants999 wrote: »

Worth checking that the guarantee agreement was valid. For a contract to be valid, either both parties must receive something from it (a "consideration") - which is hardly ever the case with a guaranteeship - or it must be executed as a deed (requiring, among other things, that the signature be witnessed). Sometimes that's overlooked, resulting in a guarantee that's not legally enforceable.

Errrrr....... No

Debz71

MallyGirl wrote: »

Don't open the door - then they can't take anyone's things. Make sure you don't leave windows open.
She needs to get some advice - was she honest on the forms she had to sign?

I had a similar problem to the original poster for years. My sister was a debtor and her last address was mine several years prior, I knew if I allowed them entry they'd nab non-essential items I couldn't provide receipts for to sell at auction, The High Court enforcers on TV shows appear reasonable, the ones I dealt with weren't,

Farmer_Johnson

ThePants999 wrote: »

Worth checking that the guarantee agreement was valid. For a contract to be valid, either both parties must receive something from it (a "consideration") - which is hardly ever the case with a guaranteeship - or it must be executed as a deed (requiring, among other things, that the signature be witnessed). Sometimes that's overlooked, resulting in a guarantee that's not legally enforceable.

Please ignore the above, it is freemen on the land rubbish.

The guarantor tends to receive the money into their own account, and is absolutely liable for it.