Guarantor on friends loan who now has a DRO

foxy-stoat

Business model for the lender is the Guarantor takes out the loan, they get the money and then they give the other person the cash. The other person merely pays the direct debits on behalf of the Guarantor until they default.

Very clean from reading the process on their site.

By the sounds of it this guarantor loan shouldn't of been included on any arrangement.

ToxtethO'Grady

As others have posted you are liable for the missed payments as the guarantor and her liability for the debt does not come in to it.


If you were or are unable to afford the debt then you could raise a complaint with Amigo as the giarantor should be under the same affordability checks as the lender.


Debt Camel have a really good webpage about this. https://debtcamel.co.uk/amigo-complaints-by-guarantor/