Guarantor on a loan - HELP!

CCA1986

Evening All,
5 years ago, I agreed to being the guarantor on my boyfriends Amigo loan. Never had an issue with him paying it back and agreed to various top ups over the years. Sadly, we've now split and his parting gift was this loan. He has stopped paying it and as per agreement with Amigo, I have been pursued for the debt. There is £7,000 left on the loan at £350 a month. As circumstances have changed, there is no way I could afford this. Whilst Amigo loans provided me 6 weeks grace to try and sort things out, I was unable to reason with my ex or dramatically change my finances to a point I could afford this monthly payment. Amigo refused an sort of payment plan and pushed hard for the re-payments, resulting in me having to enter in to a DMP. 
I suppose I have two questions here.
1. Is there anyway to remove myself as the guarantor? No foul play in taking this loan out, I understood the terms at the time but things change.
2. Can I take this to court to force the repayments from my ex? Even though its not paid in full, can I take him to court for the full amount? Or only the amount I've paid back? Would I win as the guarantor?

Any help would be greatly appreciated.

DCFC79

CCA1986 said:

Evening All,
5 years ago, I agreed to being the guarantor on my boyfriends Amigo loan. Never had an issue with him paying it back and agreed to various top ups over the years. Sadly, we've now split and his parting gift was this loan. He has stopped paying it and as per agreement with Amigo, I have been pursued for the debt. There is £7,000 left on the loan at £350 a month. As circumstances have changed, there is no way I could afford this. Whilst Amigo loans provided me 6 weeks grace to try and sort things out, I was unable to reason with my ex or dramatically change my finances to a point I could afford this monthly payment. Amigo refused an sort of payment plan and pushed hard for the re-payments, resulting in me having to enter in to a DMP. 
I suppose I have two questions here.
1. Is there anyway to remove myself as the guarantor? No foul play in taking this loan out, I understood the terms at the time but things change.
2. Can I take this to court to force the repayments from my ex? Even though its not paid in full, can I take him to court for the full amount? Or only the amount I've paid back? Would I win as the guarantor?

Any help would be greatly appreciated.

1 as far as I know there is no way to remove yourself as a guarantor Unless you can find the money (at a cheaper rate) to pay off Amigo.

2 Do you have any proof he would say he will keep up with the payments ?

I find it disgusting he isn't willing to make sure he pays this off.

This might not work but do you his parents as you could send a letter stating what he has done, being an idiot leaving you with this loan.

Learn from this, any future bf who suggests Amigo loan refuse straight away.

sourcrates

The worst they can do is obtain judgement against you in court, and you repay this debt at a rate you can afford.
You could put in an affordability complaint (see debt camel website) as guarantor your supposed to be able to afford the repayments.
Forget taking him to court, you signed as guarantor, that’s it.
Do you have debts of your own ?

If you go insolvent or bankrupt, his debt can be included.

Don’t know your circumstances obviously, but those are your options.

MinuteNoodles

sourcrates said:

You could put in an affordability complaint (see debt camel website) as guarantor your supposed to be able to afford the repayments.

But only at the time of the application which was 5 years ago. It's unreasonable to penalise a lender because the circumstances of a borrower has changed several years later. If you want to see an end to reasonable single digit and low double digit percentage rate borrowing or even an end to all unsecured lending then make lenders liable for the fact the circumstances of a borrower change 3/4/5 years later.

[Deleted User]

1) NO
2) Probably not

superbigal

Ensure everyone of his social network of friends finds out.