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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3843
Experience:  Solicitors 2 years plus PQE
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I stood as guarantor for my granddaughters boyfriend N for a

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I stood as guarantor for my granddaughters boyfriend N for a £5000 loan from Amigo. He is a self employed builder. Since then he has had a lot of mental health issues and difficulties in getting his benefits. He has asked Amigo to change the date of his payments to the end of the month which is when he gets his benefits paid. Amigo have refused stating that as he is in arrears they can't change the date until he settles them. I am an OAP and since taking this on I have retired from my full time post loosing £800 pm salary and can no longer help Him. I have told Amigo this, and have sent them a budget sheet showing them there is no money. Twice now they have virtually called me a liar. N has phoned them several times, asking them to phone him back, or keeping him holding on and have stated that he has NOT been in touch and he has now told them to take him to court as they wont help. I have just received an email from them asking me to take out a loan to pay this off!! They haven't listened to a word I have told them. Is there anything I can do to stop this. I wasn't aware when I signed as guarantor that I would be retiring which was on my Doctors advice.

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. I would recommend you write back to them as follows:

(i) Say that amigo are blatantly abusing their bargaining power and taking advantage of this situation;

(ii) Say that both yourself and the borrower have unforeseen health issues, and the borrower has made an entirely reasonable proposal to continuing servicing the loan;

(iii) Say that their harassment of your is possibly criminal under S.40 of the Administration of Justice Act 1970;

(iv) Say that if they do not come a reasonable agreement with the borrower and stop making wild accusations about the veracity and integrity of your situation you will either (A) report them to the FCA and their regulator and (B) Possibly complain to the local or national press about the poor treatment you have received.

Ultimately you signed the guarantee, and while you have been upfront about your circumstance, they are not obliged to accept any deals. They do however have to treat you fairly and therefore you need to engage them in such a way as to put pressure on them to reconsider your situation.

I look forward to hearing from you. Kind regards AJ

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Customer: replied 1 year ago.
Thank you for this AJ. I will communicate with them and if needed will come back to you.