General Chat

Hope you def say no. But having said that, I took my daughters car on my name, but she had already been paying for the car she had. She has never been refused credit since she was 18, and then she was told it was because she hadn't built up a credit rating.

I have no fear she won't pay it, cos it's registered in her name, and I can change the payments into her name at any time. Her car is her pride and joy, so she knows if she don't pay for it, she won't have it.

Wouldn't do it for any other family member or friends family though.

My son asked me to be guarantor years ago and I said no I also let my mothers house to my grandson and he didnt pay the rent bad feeling all round and lots of sleepless nights for me. Don't do it. Elaine.

Annie its big NoNo,friend or no friend,its trouble,keep well out of it,If she wants a Flat she should do it through an agent.My Son went that way,( It was Family and he would,nt listen to advice ) cost him a lot of money.so keep well away. **M**.

Remember also that a guarantor is personally liable for any debt and can be sued in court for non-payment, so it is far more reaching than just doing a friend a favour.

Good luck, and I would stick by your decision, if I were you.

Sorry Grannie..... no way.

I have not read all the answers, but that is mine.... good luck.

Deanna X

Shelter's website in case she needs it:

http://england.shelter.org.uk/

Grannie, if your not sure how to tell her, then try saying that your own credit rating isnt that good either!
And please head what everyone else has advised you , also the legal side, regarding sub letting, thats a deffinate NO NO! She is in fact asking you to break the law!!

Sorry Grannie, to be another one of the noes.......I cannot see that this in in your interests at all......if anything went wrong it would be all down to you......and it is wrong of her to ask you this, as she must know you have being going through some hard stuff recently.....

Time to say no to this one Grannie......x

Annie - No.
x

Granny, I think you've made the right decision but do you know what your friend will do about finding somewhere to live?

Is she on benefits? Can she get help from DWP?

Is there any charities that can help her or any friends that can put her up? (I know that you've got your hands full with looking after your grandson :-))

Another point too is leasing contracts ,that you will have to sign,says that subletting isnt allowed so what she is asking you to do is breach a contract and could cause you BIG problems.

I persuaded my OH to stand guarantor for a motor bike for family member who pleaded and gave every assurance they wouldn't let him .
down. They paid for six months but didn't say anything when they stopped paying .three months later OH got a demand letter as guarantor to make up the arrears or pay the full amount with 7 days. he had to fork out nearly £500 and then still got lumbered with £120 per month for another 4 years (it was a 5 year loan agreement) NEVER again.
I felt so bad that I had pursued OH to do it

Thank you for all your replys.I think the answer must be no.I was in doubt thats why i put this thread up.Dont know what i am going to say to her.With the recession hitting us no job is secure now. Annie

my son went guarantor for his brother in law to buy a car - bil reneged on payments, son has been threatened with court - don't do it!!!!!

Definitely NO.

A friend was asked to do this by her son, to stand Guarantor, for a house, he was going to share with friends.

Her Solicitor said Definitely No. She would be liable for any breakages or damages.

So please - SAY NO

Mo

I agree with the others on here.....say no

If shes a true mate, she will understand you cant put yourself through that worry or risk to your own home or savings..

don't do it - you'll have sleepless nights worrying about it - just not worth it

Ann XX

Grannie,
Even all goes well and she pays you the rent every week you will still worry about it all the time, years ago I went Guarantor for my niece and her husband when they bought something on credit and after I had agreed I started to worry and did not stop until it was paid off.
Us Grannies have enough to worry about already without taking on more.
Pat.

I f your friend cant get credit already then she is a credit risk and you could get left footing the bill. Renting is risky anyway cos you are liable for damages as well and if she decides to move on you would be left with a leasing contract AND the cost of any repairs. I really wouldn't do it its TOOO risky for you ,she is asking you to take all the risks whist she reaps ALL the benefits.

Shirley

Never a lender nor a borrower be is my motto.

If someone is in trouble and you can give them something to help then you have to look at is as a gift as the chances of being paid back are slim and you will enevitabley fall out if you are relying on getting the money back.

If you cant afford to give it as a gift then the answer must be No. Charity begins at home and you have to put you and yours first.

Never put your name down as a Guarantor unless you are prepared to also accept full liability if it all goes wrong.

Annie say no, if it all goes pear shaped you will lose a friend, good money and good friends in my mind don't mix.

Barbara xx