Amigo Loans...

[sandyRoe]

If someone's credit rating was so bad that they need a guarantor to secure a loan, who, but an idiot, would sign a document promising to pay the loan if the borrower defaulted?

http://www.amigoloans.co.uk/advert?gclid=CImnv7_T3LoCFWbMtAodL0cAGA&ID=BGP&ef_id=UnLe1wAABYH9i7-W:20131111114153:s

[woofgang]

a parent might for a child with no credit score....but it would have to be a blooming good rate.

[sandyRoe]

True enough, Woofgang. I was thinking if someone went guarantor for a friend they might soon find they'd lost a mate a found a debt.

[netibiza]

Me, as a mother, would for the child!!! but then I'd probably have had to have paid it anyway!

[sandyRoe]

I think the line from Hamlet, 'Neither a borrower nor a lender be', could do with updating.
'Neither a borrower, or a guarantor, or a lender be,' maybe doesn't scan as well but it's more in keeping with the times.

[bednobs]

indeed sandy, however it's the "old fashioned way" lol what a load of twaddle!

[andy-hughes]

I would for one of my children, but i would rather loan them the money myself, rather than sign for them to get it from a lender.

[Bazile]

If i was persuaded to do so ,it would have to be my immediate family - certainly no relatives or friends .

Think about it , any disagreement or issues with the loan company - what are they going to do ?. Oh lets not bother with the borrower , lets just go to the gurantor and demand payment .