 I want to open a bank account but have a bad credit rating? |
| Does anyone know where I can open a bank account where my credit rating wont be a factor - I dont want an overdraft, loan facilities or credit card...just an account and a debit card.... |
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 HELP! I'm being harrassed by creditors!? |
| I am very on time in paying my bills. About a few months ago, my employer at the time shorted my hours making it a hardship on me to pay my bills. The only thing that I could get by with is paying my ... |
|
 Returned an item and they gave me a gift card.....? |
| ok i bought a guitar pedal at this crappy/expensive guitar shop near my house and returned the day after and they gave me store credit on a gift card.... but there prices are ridiculos like the pedal ... |
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| Whats a good bank for students ?!? |
| anything other then bank of america. thnkx.... |
|
 If I get married and I discover that my wife has $8000? |
credit card debt, am I responsible for her debt if the credit card
company decides to bring it to court? If so, that seems very
unfair. Any suggestions?... |
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 Out of these three what should i choose; if i am getting these free of cost!!? |
since i hv shown good results in my office(company)
i hv been offered to choose any one of these. its a type if gift for me:-
1) A World Space Satallite Radio
2)Dinner for family at ... |
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 I have a creditor calling me? |
| They want over 7,000, but are offering me a settlement of 2,400. They wanted it all at once, or in 3 payments of 800. I told them I cant afford that, and could give them 250 a month. Now they are ... |
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 I do not wish to have a credit card how can i get a debit card? |
| I am new to the U.K. And do not need to pay interest on any credit card I have never used one my whole life we have allways saved the money and payed cash but these days one canot be without a card ... |
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| New to the credit card thing? |
So, I got a credit card, and racked up a $470 bill, so before I got the statement I made a $200 payment.
I got the statement and it says they received the $200, and now I like $276 or something..... |
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 How do i get approved for a loan without good credit and a co signer? |
| i have so many bills overdue and i can't get a loan from no where bc my credit isn't good and i have no co signer.... |
|
 When is the best time to pay off a credit card ? |
| Is it better to pay off a credit card , as soon as the purchase can be seen through the online banking site or should I wait until a due date is shown ?... |
|
 Do you guys think i'm badly in debt? |
| I owe a $500 bill, $200 bill, a $70 bill and I still owe $11,000 on my car I've been making payments on all three of my bills. They started out alot higher. My credit score is between 500-600 ... |
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| Which part on my debit card is my card number? |
it is a lloyds TSB VISA debit card
I would like to know how long the card number should be
i have had trouble knowing this whilst filling in a ... |
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 Can a credit card company collect a debt after 10 years? |
| In 1993 I had a opened up an account with a bank for a credit card. The bank is now out of business. For over 3 years I never recieved any statements for this card. I conatcted the bank so many times ... |
|
 My husband closed out his credit card account and...? |
| while we were seperated the credit card company sent checks in the mail that would apply to the credit card, well, not knowing the account was already closed i spent about $1000.00. if the account ... |
|
 What happens to all of someone's debts if they go to prison? |
| I was just wondering what happens to a persons debts (bills, bank loans, Mortgage etc etc) they obviously can't pay em if they're in prison, do they get put on hold or something?. I don'... |
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bobbobbob | How do I 'get out' of being a guarantor? |
I reluctantly agreed to be a guarantor under the impression that the loan would be paid on time every month, if payment is unavaible from their bank account it is immediately taken from mine, something which has been done on numerous occasions. Now i am getting annoyed with this and would prefer to just cancel the direct debit but I am worried about the legal implications if i were to do this |
 |
 
Me
 |
The only way to "get out" is to have the person you signed for get this loan paid off, or get it re-financed (NEW LOAN) without your name on it. As long as the loan with your name on it exists, you are responsible to pay if the other party does not. This will be on your credit as if you took out the loan & didn't pay - because, legally, that is what happened. This is exactly why no matter what, no matter who I will NOT co-sign a loan for anyone. Good luck! |
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davetumalty
 |
You cant get out of it... You have agreed to pay the loan in full in the event the other person doesnt.
In essance what you have said if he doesnt pay it i will... You are legally bound by this agreement
If the loan is defaulted its you they go after and your credit rating which will be effected.
The only recourse you have is to take legal action against the person who took the loan out. |
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Mike I
|
This happened to a relative of mine. First, it's a terrible idea to enter as a guarantor to somebody else; but now the damage is done. As far as I know you can't get out of this contract as long as the loan exists and the borrower continues to default. The best way is to give the bank manager a ring and pursue legal action, which should be lead by the bank but probably paid by you, against the borrower. This is likely to be a long and costly process. Best of luck though. Note that the bank has very little interest in pursuing this because they already have somebody guaranteeing the loan (no risk, much reward). |
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pumpkin
|
If you were reluctant in the first place then why on earth did you agree? The people that you are being a guarantor for have obviously taken you for a fool. Seek legal advice from citizen's advice bureau or a solicitor. Speak to your bank manager and explain what has happened and see if there is anything they can do for you. You should also be having very STERN words with the idiots you are trying to help. Take this as a lesson learned. Don't be taken in again. Nether a lender nor a borrower be. Good luck. Let us know how you get on. xx |
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leambi
 |
You should contact the lender/loan company and ask them what you would need to do to be taken off the loan but there may be nothing you can do as when you agreed to be guarantor you agreed to cover the loan payments if they couldn't be met. Also check any of the documents/contracts that you might have from when the loan was taken out. |
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matthew b
|
Sorry to have to tell you this but you are stuck with this arrangement. There are only two ways out, the loan is repaid or you get someone else to be the guarantor.
Go o the citizans advice.
You can sue the person who is defaulting! |
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src50
 |
You can't, until the loan is repaid in full. |
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ChocLover
|
Sorry to be the bearer of bad news but you're stuck with it. It seems you have learned the hard way. |
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Ladybird14
|
Did you agree to be a guarantor in the first place???You cant just cancel the direct debit-- it's your name at stake i think... |
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Ariana
 |
If you signed guarantor you are libel for any missed payments etc. It will be very difficult to get out of. |
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stan c
|
This might not want you want to hear but if you afforded to pay him a fee if he could refi on his own. If he agrees to it, make sure the joint loan shows paid in full. |
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sanitystrksback
|
Unfortunately, you're stuck. The original person isn't paying the loan and that's exactly why they needed a guarantor to start with.
Most banks will remove the guarantor after the loan holder makes timely payments for 12-24 months. Sadly, they know they can get the payment from you, which means you're stuck. |
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Nita
|
THE ONLY WAY TO GET OUT IS IF THE OTHER PERSON REFINANCE ALL BY HIM/HERSELF TO TAKE YOUR NAME OUT OF THE LOAN.... |
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Mrs. Kav
|
A guarantor is usually only needed when the person wanting a mortgage is classed as a 'bad debtor' and unreliable and so needs someone reliable who will cover payments when they eventually slip up.
I'm sorry, but you cannot do much, if anything. Contact your local CAB, or solicitor, but i think your hands are tied on this one. xx |
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Daniel J
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You can't be released from your obligation nor should you be, a good lesson for everyone, think before you enter any commitment especially financial ones. |
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frissy
|
Given that banks market debt more aggressively than salesmen market used cars, the fact that a person needs a co-signer is a HUGE RED FLAG that that person is a CREDIT RISK.
Consider the loan payments to be Stupid Tax and don't ever do it EVER again. And be grateful that they gave you the option to repay the loan immediately, instead of just letting the thing slip into collections without informing you. It's saving your credit! |
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Symone Roland
|
Hello Everybody,
My name is Mrs Symone Roland and i live in the CANADA , life is worth living right now for me and my family and all this is because of one man sent by GOD to help me and my family, i once had a life filled with sorrow because my first daughter needed a kidney transplant and all our savings were going towards her medications and this normally leaves us with no money to pay our bills or even put enough food on our table and our rent was due and no funds to pay these bills and life felt so unfair to me and every night my daughter will cry herself to sleep every night until one day, i was browsing through yahoo answers and i saw a striking advert of a man that gives out personal loans and that the offer is opened to all and i have heard so many things about internet scams but at this point of my life, i was very desperate and ready to take any risk and at the end of the day, i applied for this loan and from one step to another, i got my loan within 48 hours through bank transfer and you know, it was all like a dream and i called Mr Frank Petti who is the GOD sent lender i found and said, i have received my loan and he smiled stating that to GOD be the glory and i was so shocked as i have never ever seen anyone with such a GOD fearing and kind heart and today, i am the happiest Woman on earth because by GOD'S grace, my daughter kidney transplant was successful and today she is healthy and i and my family are living very comfortable and happy and if you are in my former situation or is in serious and legitimate need of a loan, you can reach this GOD sent lender via frank_petti@yahoo.com |
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