Guarantor of loans without knowing

Idontknow123

I did explain that I have minimal information at this point and would find out more. I may have misheard things or remembered incorrectly, it was a row, not a calm chat. There was no probate, they were still married, property jointly owned, Will in place.

People “troll” by pretending to have financial issues they wish for help with? That’s a mental illness, and although stressed, I am not mental. I realise I have jumped the gun posting this in panic before getting enough details.

She has had the mortgage for 15 years, at which time she did not have debts and was on a significantly higher wage until she lost her management job 3 years ago and had to return to being a staff nurse. I don’t know for sure that she meant she has taken out a 30k loan to cover the outstanding debts. I am awaiting paperwork that I will see hopefully tomorrow.

I have now found out that they initially made contact 4 or 5 years ago, but it was 2 years ago when they found other ways to contact her and made her life unbearable with constant letters and phone calls, and scared her into paying the money. She said she thought she could simply explain that she had not agreed to be a guarantor for any loans, but they were not interested and were, as she put it, “inhumane”.

Please wait while I find out facts. I’ve reacted emotionally and have posted this too soon.

A_Lert

It's probably not too late to complain about the conduct of the original guarantor loan companies, and to get compensation from them if they are held to have acted improperly. Especially if there's evidence of their tactics. The financial ombudsman service could help.


Based on what you've said, the previous solicitor involved gave bad advice IMHO. If your partner's claim is that she never agreed to be guarantor to these and was the victim of domestic abuse, that's absolutely a case she could have made in court if need be. Undue influence and duress are grounds for invalidating a contract.

Gaz83

A_Lert wrote: »

It's probably not too late to complain about the conduct of the original guarantor loan companies, and to get compensation from them if they are held to have acted improperly. Especially if there's evidence of their tactics. The financial ombudsman service could help.

Based on what you've said, the previous solicitor involved gave bad advice IMHO. If your partner's claim is that she never agreed to be guarantor to these and was the victim of domestic abuse, that's absolutely a case she could have made in court if need be. Undue influence and duress are grounds for invalidating a contract.

I don't disagree, but the question is, how do you prove this? How do you differentiate between someone with 'guarantor's regret' and cases like this one?

There are loads of threads on this board from people who agreed to become guarantors without bothering to fully understand what it means, and then complain that they're being chased for payments when 'it's not their loan'. I'm not saying that's what's happened here, but presumably the solicitor had a lot more evidence that what we've got on here from two forum posts.

As has been said above, the fact she's taken debt out in her own name to clear them is all but admitting liability. And with the death of her ex-partner, it's going to be incredibly difficult to prove anything.

jonesMUFCforever

Gaz83 wrote: »

I don't disagree, but the question is, how do you prove this? How do you differentiate between someone with 'guarantor's regret' and cases like this one?

There are loads of threads on this board from people who agreed to become guarantors without bothering to fully understand what it means, and then complain that they're being chased for payments when 'it's not their loan'. I'm not saying that's what's happened here, but presumably the solicitor had a lot more evidence that what we've got on here from two forum posts.

As has been said above, the fact she's taken debt out in her own name to clear them is all but admitting liability. And with the death of her ex-partner, it's going to be incredibly difficult to prove anything.

There is a very simple solution for future loans - make the guarantor go to a solicitor of their choice to have the liability to be fully explained - banks used to do this years ago.

SusieT

You really need to get all the dates relating to this debt as accurate as possible. I assume he was paying it and was up to date at the time of his death? It may be worth you sending a SAR or whatever it is now, to find out exactly what the state of it was and is. I am wondering (others please confirm this is possible) if she could perhaps try to argue that it should have defaulted within the first year of her first being contacted, since she had made no payments? If this is possible and they have continued adding interest it may be piossible to get the balanced reduced. However, I am not 100% what the situation would be with the guarantor being chased.

ALIBOBSY

SusieT wrote: »

You really need to get all the dates relating to this debt as accurate as possible. I assume he was paying it and was up to date at the time of his death? It may be worth you sending a SAR or whatever it is now, to find out exactly what the state of it was and is. I am wondering (others please confirm this is possible) if she could perhaps try to argue that it should have defaulted within the first year of her first being contacted, since she had made no payments? If this is possible and they have continued adding interest it may be piossible to get the balanced reduced. However, I am not 100% what the situation would be with the guarantor being chased.

As above you really need to know the details of the loans, were they mortgages or just loans. Did her ex default prior to dying-hopefully yes as this may well mean the debt is statute barred.

Statute barred means 6 year pass from date of last payment or last WRITTEN acknowledgement of the debt. If the debt was statute barred prior to her either writing to the lender saying she owed the money or made a payment then it is still statute barred.

Statute barred cannot be reset even by making payment-they can ask for money and yoou can chooose to pay it, but once you state it is statute barred and you do not intend to make any further payments they are obliged to stop asking.

So the big issue is if the loans went statute barred before she started to pay and take them on.

They sound big loans to not be secured though?

Ali x

ALIBOBSY

Reread your post and am wondering did she take out loans to clear her exs debts?

If this is the case she may be struggling as even if statute barred she should have challenged them at the time.

She will have to keep paying the new loans, but I would say pursue the original lenders regarding possible statute barred, harrassment-you say she felt bullied into paying them, plus the huge rate of interest and the fraud. She may be able to get them to repay some of the money or get the ombudsman to award some back-as someone else said perhaps interest from date f ex s death?

She might be on a hiding to nothing but its worth a shot she can't be worse off anyway.

If the debt should have been statute barred and the solicitor advised to pay they may be a chance to pursue them for bad advice.

Either way she has my sympathy my first marriage was abusive and it haunts you all you life, to be landed with the scumbags debt as well is a serious kick in the teeth.

Good luck
Ali x

Bermonia

ALIBOBSY wrote: »

As above you really need to know the details of the loans, were they mortgages or just loans. Did her ex default prior to dying-hopefully yes as this may well mean the debt is statute barred.

Statute barred means 6 year pass from date of last payment or last WRITTEN acknowledgement of the debt. If the debt was statute barred prior to her either writing to the lender saying she owed the money or made a payment then it is still statute barred.

Statute barred cannot be reset even by making payment-they can ask for money and yoou can chooose to pay it, but once you state it is statute barred and you do not intend to make any further payments they are obliged to stop asking.

So the big issue is if the loans went statute barred before she started to pay and take them on.

They sound big loans to not be secured though?

Ali x

I was under the impression that OP had already settled debts with consolidation loan, as such talk of statute barred is somewhat pointless as the debt has already been repaid.

-taff

If nothing can be done about reversing this decision, then I would tell her to contact Stepchange. Debt is only money. To be suicidal over debt is not the answer, have a look at this
https://www.moneysavingexpert.com/credit-cards/mental-health-guide/

Terry_Towelling

Idontknow123 wrote: »

.... There was no probate, they were still married, property jointly owned, Will in place.

People “troll” by pretending to have financial issues they wish for help with?...

The presence of a will does not automatically mean that the probate process is avoided, and it should sort out all assets and debts left by the deceased.

Yes, people do 'troll' on this forum; most of the troll posts are easily spotted by the number of emotional triggers and complications thrown into the mix.

Will be interesting to see what additional information you uncover when you are speaking again.