My partner agreed to be a guarantor so his brother could get a loan. Now, as predicted, the brother hasn't made a repayment and the money has come out of DP's account, putting him overdrawn... Brother says he contacted the loan company to change the payment date this month but when DP contacted the company they said they hadn't heard from him. Now brother wont answer his phone...
This is the first payment I believe, I'm so stressed as I knew this would happen and we really can't afford to pay the loan off for him, as well as bank charges for being overdrawn and with my mat leave looming when money was going to be tight anyway!!!
Do we have any rights in this situation? I'm thinking not as DP agreed to be guarantor
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Loan Guarantor - what can we do?
3 replies
BigBabyBoots · 06/07/2011 18:56
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