What are my rights as a Guarantor ?

[Deleted User]

I am a guarantor for a family member and they have defaulted on rent payments.............

The agreement states.........( the key word being "immediately liable" )

6. In the event of a default by the Tenant(s) of any of their obligations or responsibilities under the
Agreement, the Guarantor(s) (if any) shall become immediately liable to remedy said default. In the
event of multiple Guarantors, each shall be Joint and Severally liable.

Now, they are currently 7 months in arrears but I wasn't notified of any arrears until it was 5 months and a total of £2000 !

What are my rights ( if any ) regards to the landlord not notifying me sooner as I would have been able to mitigate losses ?

Ath_Wat

How would you have been able to mitigate losses - are they just rent payments or are there late fees?

elsien

Possibly by putting a bomb up the backside of the non-paying family member? 

user1977

You have pretty much no rights as against the creditor - unfortunately the time to understand that was before you signed the guarantee...

[Deleted User]

Ath_Wat said:

How would you have been able to mitigate losses - are they just rent payments or are there late fees?

They are just rent arrears, I would have mitigated my losses by removing them from the property if I was notified sooner.

canaldumidi

You have no rights, only obligations (assuming you signed a valid deed).

[Deleted User]

user1977 said:

You have pretty much no rights as against the creditor - unfortunately the time to understand that was before you signed the guarantee...

But, do they have an obligation to notify me immediately as I am liable ?

[Deleted User]

canaldumidi said:

You have no rights, only obligations (assuming you signed a valid deed).

If i am immediately liable then they should have an obligation to notify me ?

user1977

Deleted_User said:

user1977 said:

You have pretty much no rights as against the creditor - unfortunately the time to understand that was before you signed the guarantee...

But, do they have an obligation to notify me immediately as I am liable ?

No. They can notify you whenever they feel like asking you to repay the debts.

I'm not sure how you would have "removed" the tenant from the property anyway - which wouldn't necessarily bring the tenancy to an end.

TBagpuss

No. Presumably they were in contact with the tenant and trying to sort it with them. 
also, as a guarantoyou wouldn't have had any right to remove the tenants from the property so I don't see that you would have been ble to mitigagte your losses that way. 

[Deleted User]

user1977 said:

Deleted_User said:

user1977 said:

You have pretty much no rights as against the creditor - unfortunately the time to understand that was before you signed the guarantee...

But, do they have an obligation to notify me immediately as I am liable ?

No. They can notify you whenever they feel like asking you to repay the debts.

I'm not sure how you would have "removed" the tenant from the property anyway - which wouldn't necessarily bring the tenancy to an end.

The tenant is a family member, I would have got them out fairly easily and the tenancy was only 6 months and it would only require a months notice to get out of it.