Autistic friend talked into being loan guarantor

Ksj1988

Help!
My friend who is autistic (Asperger Syndrome) was talked into being a loan guarantor for his "friend" who is now not bothering to make payments.

He could not then, and can not now afford those repayments and should never have been allowed to agree to the guarantee. He did not fully understand the implications of how serious this was.

Please tell me there's something that can be done to help free him of this burden! The state of his finances even without this several thousand pounds hanging over him is abhorrent and he has attempted suicide because of it - amongst other issues.

[Deleted User]

If he cannot afford repayments, he will have to default and and try to agree a repayment plan with them.

This will obviously impact his credit files but he can't pay what he can't afford.

Ksj1988

He has a few of his own payday loan debts as well, working only part time and in arrears with rent.

I'm going to help him sort his personal debts out via national debt helpline or step change, but I don't know whether he can lump the guarantor loan in with that or if he will have to still have that separate because its technically not his loan?

Farmer_Johnson

It’s an awful thing to have happened. Can you try speaking to whoever did this to let them know the harm they are causing?

I’d think carefully before going down the route of suggesting your friend lacks the mental capacity to be a guarantor; that’s a very strong statement and one that they may not want to make.

elsien

Did he not have to pass financial checks in order to be a guarantor? Hard to see how someone working only part time and already with several payday loans was able to pass the checks to do this.
Did he put incorrect information on the application form or were the lenders irresponsible?
Without knowing how he managed to end up as guarantor despite the state of his own finances it's hard to advise.

Lungboy

Ksj1988 wrote: »

because its technically not his loan?

I'm not sure that's true.

Pixie5740

Ksj1988 wrote: »

He has a few of his own payday loan debts as well, working only part time and in arrears with rent.

I'm going to help him sort his personal debts out via national debt helpline or step change, but I don't know whether he can lump the guarantor loan in with that or if he will have to still have that separate because its technically not his loan?

Your friend is legally liable for the loan because he guaranteed it. The loan can be taken into account with whatever debt solution Step Change or National Debtline suggest. He won't be expected to prioritise the guarantor over his other unsecured debts and his unsecured debts won't be prioritised over essential bills such as his rent.

CakeCrusader

To be honest with you, it sounds as though his 'friend' has taken advantage of a vulnerable person. I think you and your friend need expert help with this, I'd be inclined to contact the Police. I know that this may sound OTT, but your friend does seem very vulnerable and getting them to sign as a guarantor and not bothering to pay is technically exploitation, especially if this 'friend' knew about your friend's Aspergers. Is your friend getting support from Social Services etc?

System

Just because he has Aspergers doesn't automatically mean he didn't understand what he was being asked to do. Aspergers is actually a high functioning level of autism, my brother has it and has a business degree and most certainly understands what being a guarantor for a loan involves so you'll not find any joy going down that route as a way to get him out of it.

CakeCrusader

Tarambor wrote: »

Just because he has Aspergers doesn't automatically mean he didn't understand what he was being asked to do. Aspergers is actually a high functioning level of autism, my brother has it and has a business degree and most certainly understands what being a guarantor for a loan involves so you'll not find any joy going down that route as a way to get him out of it.

You're right, a lot of people with Aspergers understand a great deal, however, the information that the OP has provided shows otherwise;

"He did not fully understand the implications of how serious this was." It's not down to anyone here to assess his competency.

BucksLady

Tarambor wrote: »

Just because he has Aspergers doesn't automatically mean he didn't understand what he was being asked to do. Aspergers is actually a high functioning level of autism, my brother has it and has a business degree and most certainly understands what being a guarantor for a loan involves so you'll not find any joy going down that route as a way to get him out of it.

Asperger's Syndrome is a 'spectrum condition'. Your brother may well be at the 'higher end' of the spectrum, but that doesn't mean that the guy in question is.