Alex Watts :
Hello my name is Alex and I will help you with this.
Alex Watts :
Will the loan company release the debtor please, or have they said no?
The loan company are saying that the loan as been guaranteed by me the guarantor .. . the problem i that the person who actually took out the loan as been dishonest from the start of the agreement
… he paid the fist payment thereafter i have had to pay seven repayments on a loan i did not apply for! The Loan company fail to notify me prior to me signing the guarantor contract,that the person they granted the loan too had two unpaid CCJ's and it's questionable whether he as got a job … The Loan company are pursuing me for the money when it is clear that they have lent their money to a person who has no reasonable prospect of repaying the loan …the refer to their loan guarantor agreement … is my case one where i can challenge the ethic's of the loan company can you give any advice?
Alex Watts : Ok, did you know the person you were acting as guarantor for?
… yes, i know the person in question and he informed me that he had a legitimate job and that the loan company had cheeked him out as being a person worthy of receiving their loan although they required a guarantor as part of their company policy!
Alex Watts : Does the loan company guarantee say they are required to disclose ccj's to you please?
The company's guarantor document is silent in relation to any obligation with regard to disclosing any information to the contract or the guarantor … the question i would like to know is what dose the consumer Credit Act say … in truth all the Loan company as done is given me the guarantor the loan as it appears that they them selves didn't believe that the applicant could pay for the loan ! … unfortunately i've got to go out now so can you send a response with i can accept later on ! Furthermore i an new to you platform and i am not sure how to get back to you to conclude this matter … i would be grateful if you can instruct or assist me to get back to you. Many Thanks i.e. how do i get back to your platform.
Alex Watts : The consumer credit act does not say you are entitled to this information
Alex Watts : Indeed it would be a breach if the data protection act for them to disclose personal information about their customer without his/her consent
Alex Watts : Therefore it is up to you as a potential guarantor to make your own enquiries and satisfy yourself that the person is creditworthy
Alex Watts : The obligation is not on the lender, but on you, as you are guaranteeing the loan.
Alex Watts : Some loans require a guarantor others do not. But it is not their job to pass this information to you about the credit history, that would be a breach of the Act.
Alex Watts : I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest
Alex Watts : Can I clarify anything for you about this today please?
Alex Watts :
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