SteveT
|
Then you wouild have to pay it back |
|
PrettyKitty
|
You would be liable to pay back the entire loan. You have to be sure that this is a good enough friend for you to do this. Do you trust her? Personally, I would only do this for family, but each person is different.
Don't do this if you have ANY reservations. |
|
lulu
 |
You are responsible for the debt if she doesn't pay, you have to be deemed suitable to stand as a guarantor for her, so you had best make yourself appear not suitable ! Its a very bad idea ~ don't go there |
|
cuffyn
 |
You have to pay it back.
Don't do it, you could ruin your friendship. |
|
foxy lady
|
You'll have to pay it! think very carefully about doing it - I wouldn't! |
|
Gem*
|
You are liable for the loan - don't do it! |
|
george.partyon
 |
If your friend does not pay the loan, then I'm afraid as guarantor you will be responsible for any repayments not made. To act as guarantor for a loan is a very serious undertaking. Be very careful. |
|
Happy Murcia
|
It will then be up to you to pay it as guarantor.... |
|
becca9892003
 |
****RED FLAGS*****
i know this is your friend and you want to help but in most cases this will not turn out well....the best thing you can do for your friendship is say no......if she doesnt pay it back you are then responsible and your credit will also suffer........please don't do this... |
|
Ariana
|
You are leaving yourself wide open to being responsible for the debt.Should they not pay it.As others have advised its not really a good thingto do. |
|
Mr Tripod
|
Don't do it, don't do it, don't do it, don't do it and one last time in case you missed it.........DON'T DO IT!!
if she dosn't pay then YOU are liable for the loan. |
|
Vera C
|
If she doesn't pay then you pay -- don't ruin your friendship over money -- don't agree to sign. |
|
baldyoldgit
|
You will be chased until your dying day by men in black suits and shiney silver pens and clipboards. Your children, grandchildren and great grandchildren will be paupers and eat off the back of empty cornflake boxes. DON'T DO IT!! |
|
Adrian X
 |
DON'T DO IT. YOU ARE AN IDIOT TO DO IT.
If she can't pay her creditors, you are liable. Her creditors can seize your assets and make you a bankrupt!!! |
|
Andrew L
|
You already know the answer!
Don't do it. Politely refuse. |
|
Goldie
|
You will have to pay it. If you have trouble paying it, your credit rating will be bad and the bailiffs will come for your stuff! Don't do it (unless it's serious and it's close family you can rely on). |
|
alatoruk
|
you will have to pay it
so the question is - how much do you trust her? |
|
RobEll
|
Depends who the loan is from. If it's from a bank, building society or similarly authorised lender, then you will be liable for your friend's debt.
If it's from a loan shark, you'll probably have your legs broken.
If it's from the mafia, you'll wind up sleeping with the fishes. |
|
Mechard T
|
This will depend much to terms stipulated in guarantying document that you are required to fill and sign.So read them carefully and you will realise what you are guaranteeing. If you guaranteeing to pay when he doesn't pay for sure you have to pay on his/her behalf. But the safe way of doing this is to advise your friend together with the one who is prepared to give loan to him/her to insure the loan. It is the insurance company that will pay in case of failure to pay. But insurance has price to be paid by your friend. |
|
Marysue
|
You're stuck with the bill because you agreed to be the back-up plan. |
|
CHRIS G
|
If your friend refuces or simply ignores the debt - the Creditor will pursue you - if you are in employment they will arrest your salary, if you have a bank account they will freeze it, if you have a home, they will put an Inhibition against your property .... basically they will go for the easy option and sue both of you !!
DO NOT BE A GUARANTOR FOR ANYONE !!!! |
|
Jade B
 |
you would be liable to pay the debt- my advice is not to enter into this agreement with any friend no matter how close you are as everyone runs into financial difficulty at some point in there lives |
|
Angela M
|
The loan company will hound you until the loan is paid. Don't get involved with friends or family on money matters. It always ends in tears!! You could lose a great friendship over some dosh!!! |
|
Leo F
|
She needs you to co-sign because she does not pay her bills!!!!!!!!! and has bad credit. DO NOT DO IT you will get stuck with the payments. |
|
John H
|
theres lots of excellent advise regarding this question!!
I think you now know what the answer is!!!
Just tell your friend the reasons why you don't want to do it...... and if shes ok with it then she's a friend, if she's not, then run!!!
And don't listen to any sob stories!!!
good luck!!!
PS - Don't do it in a million years!!! |
|
Sudam
 |
Hi i'm guarantor for one person, bank has given him personal loan base on his morgage property home (which is on his fathers name). Now bank is calling us & saying that you are the guarantor you have to pay the loan we will attache it to your salary slip they are asking to come bank with your fraind.
Please tell me what i have to do? |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
