Posted by | Category useful information | Date 30 December 2014

The responsibility of the guarantor

What does guarantor mean on a loan? The guarantor is the person who agrees to pay for someone else's loan if that person cannot afford to repay. The guarantor is always asked to co-sign the loan agreement before it goes through and the lenders we feature will usually do a phone call with both parties to go over the terms and conditions of the agreement. Circumstances can change and the borrower

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Posted by | Category useful information | Date 22 December 2014

Who could be my guarantor?

A crucial part to a guarantor loan is selecting a good guarantor to increase your chances of the loan being improved. From the lenders point of view, have a good quality guarantor with a good credit rating adds huge credibility to your application. Even if you have bad credit and have been turned down by banks and other lenders, you can still borrow up to £15,000 based on having a good

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Posted by | Category useful information | Date 22 December 2014

What happens if you cannot repay your guarantor loan?

If you cannot repay your loan, the idea is that the repayment will be collected from the guarantor's account. But before the guarantor is out of pocket, the lender will usually get in touch with the borrower to discuss repayment and give you the chance to repay first. We appreciate that one's circumstances can change and due to an emergency or being paid late from work, you may not be

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Posted by | Category Blog | Date 19 December 2014

How guarantor loans can improve your credit score

By repaying a guarantor loan on time, you are able to improve your credit score. By demonstrating that you are able to pay a loan off whether its a guarantor, logbook or payday, it is showing your creditworthiness. So whenever you repay a loan, the information is reported by the lender to a credit reference agency such as Equifax, Experian or CallCredit and this will update your credit score accordingly. The

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