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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10610
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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I acted as guarantor for a friend for a loan of £5000, which

Customer Question

I acted as guarantor for a friend for a loan of £5000, which was through a
loan company(Amigo loans). She then asked me to be a guarantor for a house she wanted to rent, I refused that request. The next thing I know is the loan company informing me they can no longer recover her payments as she had cancelled the direct debit and they also tried her bank card with no luck. Is there anything I can do?
Submitted: 4 years ago.
Category: Law
Expert:  Aston Lawyer replied 4 years ago.

 

Hello there,

 

Thanks for your enquiry and am sorry to hear of your situation.

 

As Guarantor for the Amigo loan, I am afraid that the Company have the right to pursue you for the full outstanding amount if the debtor does not pay the monthly instalments for whatever reason.

If the debtor is unwilling to make the monthly payments, there is nothing you can do to stop Amigo from pursuing you and nor is there any legal action you can take against the debtor to make sure she starts to make the monthly payments again.

 

I am sorry this is not the answer you were looking for.

 

Kind Regards

AL