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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am looking advice with regards to acting as a guarantor on

Customer Question

I am looking for legal advice with regards ***** ***** as a guarantor on behalf of a student in 2014. The loan provider company called StudentFunder. A few days after I electronically signed the agreement I issued them with a cancellation notice stating that I no longer wanted to act as a guarantor. The company did not confirm this cancellation and I thought that they had taken into account. However, since 12/6/16 Resoution Recoveries have been trying to get in touch with me about the situation. I attach below some of the emails I have been receiving. I have been receiving emails from a third party called Resolution Recoveries about the fact that the student has not been making payments.
The loan provider company called StudentFunder will be closing down next week
I am looking for advice for how to best deal with the situation
Cancellation
You have the right under Section 66A of the Act to withdraw from this Agreement, without giving any
reason during a period beginning on the day after you have received written confirmation from us
that we have executed the Agreement and ending after 14 calendar days. You can withdraw from the
Agreement by sending written notice of the withdrawal or by emailing***@******.*** . If
you withdraw from the agreement you will have to repay us the Credit you have taken under the
agreement and pay to us any interest accrued on that credit without delay and in any event no later
than 30 calendar days after giving notice to withdraw. Interest shall accrue daily on the loan at the
Interest rate set out in Clause 2 above in the event of your withdrawal.Good Afternoon
Further to our recent correspondence, we note that Student Funder loan entered into by Florina Costea is currently in arrears by £350.96.
Please find attached Arrears notice and our payment options.
We currently do not hold an address for you or a contact number. Please can you inform our team of your new contact details as per your contract.
If you require any further assistance please contact us on the detail below. Our office hours are Monday-Friday 09:00-17:30,
If payment is not met within 30 days from the due date then we may increase the amount due to reflect any fees, interest charges that would be payable under the loan. This may have a negative footprint on your credit file.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.

Hello my name is ***** ***** I will help you with this.

Did they ever accept your cancellation?
Just to be clear you never took out the credit yourself?
Alex

Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Hi Alex,
Thank you for your email
I acted as a guarantor only. The student received her money. I don't have evidence of the email apart from the attachment that was sent at the time. The issues is that I managed to speak to the CEO of student funder Juan Guerra who said that the company will be closing down next week. He is not longer the CEO but said that would look into the email and pass it (if he finds it onto Resolution Recoveries.
Customer: replied 1 year ago.
For me the issue is understanding what Resolution Recoveries can do against me in case the student does not actually pay her monthly installments. It is unlikely that she will pay as she is in a difficult economic position.
Customer: replied 1 year ago.
I am able to share with you the loan agreement that was assigned but I would not like this to be made available online through the website as other conversations are made available. The student concerned is not longer living in this country but in Spain and she is not traceable easily. The 'add files' function is not working by the way.
Customer: replied 1 year ago.
You can also check the website yourself https://www.studentfunder.com/
Expert:  Ash replied 1 year ago.

When would be good to call?

Customer: replied 1 year ago.
It would be good if we can talk on this coming Sunday (19th) about 12:00. However it would be good if you can let me know what information you need so that I can provide it to you prior to the call. Is this good for you?
Expert:  Ash replied 1 year ago.

Ok - it may be afternoon on Sunday and if so just come on here and let me know when you are free

Customer: replied 1 year ago.
This is fine with me.
Expert:  Ash replied 1 year ago.

Great

Customer: replied 1 year ago.
Are you able to chat now?
Expert:  Ash replied 1 year ago.

I am online now, are you about?

Customer: replied 1 year ago.
we can talk now
Customer: replied 1 year ago.
I will only be available for the next 30 minutes from now (17.00) as I have other commitments. Frankly, I was expecting you to be available at 12:00 today as we had agreed.
Expert:  Ash replied 1 year ago.

I was seeing clients sadly and it ran over. What is your number as it doesnt show here?

Customer: replied 1 year ago.
I have just sent it as a private message
Expert:  Ash replied 1 year ago.

Calling now. Alex