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Found 51 results

  1. had a letter come through the door from the land registry. this was telling me that amigo loans had applied to have a charge put onto my property due to my wife standing as a guarantor for her cousin. you can imagine this has come has a major shock to me as i was not made aware of this by my wife. my permission would never been granted. i have until noon on thursday to reply to the land registry as my wife is a bit simple she said she did not know what she was entering into and the consequences. can i add this was the first time we have heard about this the land registry letter. no letters have been sent to us or court orders or told the debtor had stopped paying . when i rang amigo up i asked them why we had not been informed of your actions and the debtors non payment he replied you have now. why have you not sent bailiffs in to recover your cash he replied we dont do that we have your house. i find myself dragged into someone elses non payment. the debtor has no worries sorry pal i cant afford to pay. need urgent assistance on what to do here im in panic mode.
  2. After having issues with gambling and payday loans, my credit score was ruined and my partner agreed to help me with a guarantor loan to consolidate some of the debt, a terrible idea as we've found out. At the time I had over £10,000 of HTSTC loans outstanding and said I would consolidate some of these with the loan. UK Credit lent £7,500 to me, with repayments of £281. I paid around £6,000 off the HTSTC loans with the money, the rest I owed to my partner. Straight away I struggled, took out more debt to help with payments and then in April 2017 stopped due to lack of finances. In June I filed a complaint with UK Credit claiming irresponsible lending. Soon after the Ombudsman wrote to myself saying they were looking into the case and asking UK Credit for information, UK Credit wrote to the guarantor with a Letter Before Action notice, stating the remaining £7,543 had to paid in full, otherwise court action would follow. My guarantor is often pestered saying court action is soon approaching if nothing is done. Too get them off my back while the Ombudsman looks into this, last month I offered £200 a month which they rejected and stated that they wanted the full £280 a month repayment upheld. As they didn't agree with our expenditure forms. I currently have £800 a month going out in debt repayments. I would like some advice on how to get them off guarantor's back. How likely is court action? What is the best course of action until the Ombudsman takes further action?
  3. I am acting as Guarantor on a rented property for someone who is now in serious rent arrears, to the tune of almost £3k. If I pay this off, does anyone know if can I then make a claim (small claims court maybe?) against them in order to try and get the money back? If so, has anyone done it? How easy is it? What power does the court have to compel the tenant to pay me? Thanks, dK
  4. Hi I acted as guarantor for a friend of mine on 31/10/14. He has since fallen into arrears and been evicted from the property. The first I heard about it was in a letter from the landlords solicitor on 28/11/16. In response to the solicitors letter I did admit to being guarantor. I also advised the solicitor that I am not in any financial position to pay this debt as I do not have any income at this time after losing my job in October 2015 and trying to get my photography business up and running, with no success as yet. I have now been issued with a County Court claim, however, in the correspondence I have received there is no mention of me as guarantor on the Assured Shorthold Tenancy Agreement and there is no other document (i.e written guarantee or deed) where I am mentioned or indeed have signed to act as guarantor. The tenant has offered to repay the debt over a period of time but the landlord has refused his offer. Can anyone advise me what to do as I have no means to pay this debt and unless the solicitor or claimant can produce a written guarantee or deed then would I be right in thinking they do not have a leg to stand on? and why has the landlord come after me if the tenant has offered to repay over a period of time? but more importantly what do I do put in my defence form? Thanks for any help given Ed
  5. Hello, I've had a gambling addiction which has lead to thoughtless borrowing and large amounts of debt. Earlier this year i decided to do something about it and I've currently got the gambling under control, put in complaints with all the PDLs i borrowed from and joined StepChange. The CAG guides have been a massive help, so thank you to all those involved. One problem I still have is a £7500, 4 year guarantor loan with UKCredit. I've currently paid UK Credit £3,800 but have fallen short on the payments since March. I've found the guarantor loans really cause problems on a dmp, as StepChange are suggesting £97pm and UKCredit are making my guarantor pay the rest. When trying to go back to StepChange to get this increased to full 281.50pm, they've refused. Jan 16 | £7,500 | £281.50 a month | Current Balance £6998.09. My guarantor is my partner. My question is can I claim irresponsible lending like I did with the PDLs or does having a guarantor stop that claim? When I applied for a loan with UKCredit I had the following outstanding: 118 118 MONEY | £2500 | £190pm AVANT | £3800 | £175.42pm Sunny £900 | MyJar £1000 | £495.29 pm Payday UK £800 | £969.36 Marbles £900 - £25.36pm Mr Lender £250 | £274 Satsuma £300 | £88.40pm Santander Credit Card £1900 | £30pm Vanquis £450 | £45pm My credit file was littered with missed payments and my bank statements showed my gambling situation.
  6. Hi, This is a frustrating situation and time is pretty limited so hopefully someone may be able to help. Lol due to the fact that i'm the family banker this post is on behalf of my partner last year our daughter acquired some equipment and used Admiral Leasing, (my partner was the guarantor). The equipment was not proving to make the profit that was required and our daughter contacted Admiral Leasing, explained that she could not afford to keep up the repayments and asked for a solution. She was informed that they would collect the machine and it would be resold. She was then told that they would negotiate a payment plan for the balance after the machine was sold. In August 2016 our daughter and my partner received a letter of termination, this included the outstanding amount. Our daughter phoned and enquired about the letter and was informed that this was a default template generated by the computer and that there was nothing to worry about, they would negotiate the balance as soon as the equipment was sold on. On December 29th 2016 both parties received a letter for a county court summons from Admiral Leasing for the amount of £6,479.48. We were a little bemused because on reading the Plaintiff comments: - have contacted parties on numerous occasions to resolve outstanding balance, have supplied all necessary paperwork, no resolve. Prior to the court summons my partner received no correspondence what so ever from Admiral Leasing or their acting solicitor. Our daughter did not receive any correspondence either. She contacted their acting solicitor and was told that he had sent her numerous emails, she said that she had not received them and could they resend, to date she has not received them. She also pointed out that she had phoned several times to check on the situation with the machine sale, she was told not to worry as they would contact her as soon as it was sold. Furthermore she offered to make a payment plan which they would only accept if we put a voluntary charging order against our property. We were not prepared to do this. We spoke with a solicitor and explained the situation, they contacted the Admiral Leasing acting solicitor and offered payment of the outstanding amount which was left after the machine sale £5577.26, they stated that we would not pay costs as we had not received any correspondence. The acting solicitor refused and said they wanted the whole amount. Our solicitor then just said pay it as its not worth the cost of proceeding. (should we just give in and pay the extra £1000.00?) We do not dispute the machine balance and have offered to pay, we do dispute the costs on the assumption that had they sent a request of payment to us after the machine was sold, we would have paid. Also should they not have sent us a default notice or a letter before action rather than a court summons? does the credit agreement not protect us against this? It seems like their solicitor has just jumped the gun to stuff an extra 1000.00 in his back pocket! Any advise would be grateful, unfortunately due to the time it has taken to process information with the parties involved we now only have until Thursday to reply. Thanks in advance
  7. Hi You guys were great giving me information a couple of years ago and i hope you can help my friend. He stupidly went as a guarantoor for his friend for a glo loan and it was supposed to be repaid in full the next month as his friend promised the money in the bank would be realeased to him and he would then pay the loan off in full. As you have probably guessed the friends money in the bank was non existant, the firend then defaulted and the guarantor who is on a DAS (like myself) didn't know he couldn't be a guarantor until he spoke to his advisor who has now told him if Glo take him to court the Accountants in bankruptcy will make him bankrupt and his home is at risk. He is totally devastated, i feel so sorry for him as i didn't know either that you couldn't be a guarantor but shouldn't this has showed up on the credit checks which their webiste says 'after they have carried out check' glo would get back to them. He has spoken to the police about the lies told by the friend but they say it is a civil matter and he has no money to pursue this. The person who took out the loan as i've since found out owes money to everyone from council tax to tv licence but they have a house which the mother left to them when she died and there is no mortgage on this. Can anyone suggest anything as i am getting really worried about my firends mental state as he has tried so hard to repay his debt and keep his house, hence the DAS arrangement and now may lose it afterall. It wouldn't help his house being sold as Glo would still not get their money as it would probably pay his own creditors. Any advice would be fantastic
  8. Hello, I am new to the forum having joined today. I'd be so grateful for any advice please. In September 2015, I signed as a guarantor for my son's first year student rental in a shared house. I understood then (as now) that each renter and guarantor were jointly and severally liable for any debt or damage incurred. This agreement was signed by each party on the understanding that there would be six tenants in a shared house. However the sixth tenant never showed up and the letting agency have failed to find a replacement renter. This has meant bills have had to be shared by 5 instead of 6. The letting agency gave a verbal assurance that the 5 renters wouldn't have to pay for the missing tenant and indeed the 5 students have been paying a sixth of the overall rental each month. Now they have received a demand from the letting agency for the missing rent from the no-show renter, backdated from September. When our son queried why they were not chasing this person's guarantor, they said they'd made several efforts to contact the renter and his guarantor, to no avail - so now the other renters and/or their guarantors were liable. Today the letting agency has admitted the missing renter never did sign any contract with them, so he has no responsibility to pay the rent and neither do his guarantors. At no point has the letting agency advised the 5 tenants to recruit a replacement, or warned them of their liabilities for the room not being let. Any advice would be so greatly appreciated. Thank you.
  9. Just looking for some advice. My father is my guarantor for my house which is rented privately through an agent. I claim full LHA due to first being unemployed and now claiming ESA due to a medical condition. The landlord through the agency want to increase my rent, no unreasonable since its been the same for 2 years. However the problem I have is that my father moved to France at the start of October with his new wife. He is therefore no longer a UK homeowner or in employment as he retired then as well. He still has a UK bank account that all his pensions are paid into and his pension still gives him nearly as much as when he was working. I have rented this house for 3 years with no problems with the rent at all, only once was it slightly late but that was a problem with my bank and not the fact I did not have the money to pay the rent. Would people see this now as a problem or would the fact I am a good tenant and my father still has links to the UK through his bank, myself and his ageing mother despite living in France not cause any problems. Trying to get some feedback before going to the agent and putting all this to them, so I am a little forewarned. Thanks
  10. Need some advice please, sorry for the rambling post but its a long story. I stood guarantor for my daughter and to put it bluntly, the landlord has been nothing but a bloodsucker. I have cleared several lots of arrears as he has been charging £25 each for a letter to me and my daughter each time he notifies us of arrears. On this notice, he states that there is a £1 daily charge every day there are arrears but makes no reference to these other charges...(they are in the small print apparently)...so they mount up un-noticed until they put her back in arrears again and another letter appears adding £50 in total to his bill. My daughter complained about the thermostat not working 2 months ago and nothing was done, they rang me the week before christmas to clear yet more arrears and ask if there were any jobs before the christmas shutdown....I told them again about the thermostat. No visit came for repairs but 4 days after that conversation he issued a S21 notice giving her only months notice. To be honest,she has found somewhere else and is glad to be going but he then claimed an inspection had been arranged for which she had not been in and charged her another £50 for a missed visit. Have now received another letter claiming over £250 of arrears again despite me clearing them as mentioned above. We have now received a monstrous list of repairs, many of which are bogus but how can we prove it. He claims the carpets are damaged and need cleaning/replacing but it was his workmen who caused the problem 3 months ago when they did something in the loft and caused the mess and despite repeated calls he has failed to send anyone around to sort it which he said he would. He claims the cooker is damaged and will need replacing with a new one...the old one is exactly that..very old. He says the bathroom has deteriorated due to mildew but to be honest,there has been no damned heating to dry it out due to the unrepaired fault. He also says he wants rent for the future as he will be unable to rent out the house immediately. Looking at his demands,I am going to be hit with a bill for thousands as he intends to take me to Court if I dont settle his demands. She is leaving this coming Friday with her notice period ending the following Monday. Do I have any chance whatsoever of challenging any of these excessive demands as I do not have the cash. I am a home owner which they insist upon for a guarantor and its becoming obvious why now. Since asking around on local facebook pages etc, he has a terrible reputation for this sort of stuff and although I have to accept my responsibilities as a guarantor, I would at least expect him to be fair and honest about this. Help please.
  11. Every now and again after spending a good few years reading many peoples stories on the consumer forums something about some peoples experiences give you a uneasy feeling in your stomach. After the subprime chaos came the payday loan crisis that is still raging in many countries causing misery for millions of people. These kinds of companies change and find new ways to extract money from their targets which is usually the hard working low paid in poor areas worldwide. Call them Legal Loan Sharks,Lepers of Lending many of us have names for them. Changing like Chameleons their products come and go hurting people, ripping extortionate rates of interest and charges which must mean money not being spent in local communities.Businesses must suffer in their target areas because the interest and charges paid to them is usually collected and shipped off to far flung destinations. Not spent locally. Then seemingly after a few years the targets are forgotten the products and people who thought of them slip off elsewhere in the world or think of a new product their targets forgotten in the mist Reading that Fathers,Sisters,Grandparents,Pensioners any relative you can think of has not spoken or fallen out with a family member for years due to these loans makes me sad as I suppose many of you feel the same. Some will say that is business, the way the world works. Some will feel stop the world I want to get off had enough of it all. I have just been reading a article abroad trying to link increases in deaths in areas targeted by the predators and their products. and it seems to stack up. If any of you have any stories or need help with these guarantor loans please write and tell us what has happened to you and how it has affected your family. When you start reading about proper checks not being carried out it usually means a bubble is bulding and ready to explode usually in this direction. Some guarantors and people who took them out must be in crisis or heading that way with implications for both. I hope that many of us on here the wise ones that I call the site team and of course myself somehow can help you in some way,just love a challenge when the odds seem stacked against you give us a shout. I feel these kind of loans have already been written about just thought I would try to get that feeling out of my head and put it down here. Here is a small article that I have just read,there are many more . Guarantor lending 'as damaging' as payday loans, warns charity http://www.bbc.co.uk/news/business-33555764 Just gathering some knowledge about these loans in 2013 50000 people took one out.Estimated. How many now. No cap in place but I believe the FCA is looking into this. Report due soon Following the Bank of England announcement that an interest rate rise is due before the end of this year and government welfare and tax credit cuts due to start, concern is being raised over guarantor loans, which are not covered by the cap. More than 50,000 people a year now take out guarantor loans, which range between £1,000 to £7,500 and are repayable over periods between 12 months and as long as five years. Pursued by debt collectors However, there is evidence that proper checks are not always carried out over who is taking out guarantor loans and more than four in ten are unaware of the liabilities they take on. Family members or friends who guarantee the loans can suddenly find themselves legally pursued by debt collectors, even in cases where the borrower has died. One of the biggest problems facing guarantors is that they are not regarded as ‘customers’ by regulators. This inevitably means that a guarantor will not be provided with the information a traditional borrower would receive and are not protected by normal rules governing the fair enforcement of debts. Citizens Advice is urgently calling on the FCA to take action to now reform how the guarantor loan system works. So fair I would say to believe due to many people now having poor if not shattered credit ratings and other pressures that possibly family members or friends are coming under increasing pressure to be a guarantor. Recipe for trouble for many. Everyone has a view what is yours. And perhaps you have felt the pressure tell us your experience perhaps it worked out for you. But with loans spread out and 1000- 7500 available plenty of time for things to go wrong. Which personally I find they usually manage to. Just read a report by Stella Creasy MP for Walthamstow. Shocked to read this. Predators must be licking their lips you feel. Unsecured personal debt has gone up by £48bn alone since March this year and that’s not by accident. George Osborne is balancing the books out of the pockets of ordinary people, expecting them to borrow to make up the difference between what they need to live and what they earn. I am not making a political point but this MP does fight for people as many on here know. Here is the article. http://www.stellacreasy.org.uk/stella-sounds-alarm-for-generation-debt/
  12. Hi all, I'm afraid that I've been a bit silly. My son has lived in a flat for years with some old friends and recently one moved out. They replaced him with another boy who they didn't know and had to sign a new joint tenancy agreement. With the first one, I filled in an application and signed a deed of guarantee in addition to signing a box on the tenancy agreement itself saying 'Guarantor'. All of the other parents did the same. This time, I only saw the page I needed to sign and signed in the Guarantor box, didn't fill in forms/sign anything else, as did the other parent. The new boy is employed so didn't need a guarantor. The fixed term has now come to an end and my son and his friend have moved out. Unfortunately the other boy won't budge. Will I have to pay to cover this? I'd only intended to cover my own son. I've since seen the whole contract and the only reference it makes to a guarantor is in the definitions section where it says that the guarantor is responsible for discharging the tenants obligations. So essentially I have two questions: 1) Did signing in that Guarantor box officially make me a Guarantor or is it invalid because I haven't filled in anything else? 2) Do I still have to cover costs once the fixed term is over? Any help with this would be greatly appreciated!
  13. Could I please have opinions as to whether this guarantor agreement linked below would be legally upheld - the landlord referred on this to is actually the letting agent, and the witness is also an employee of the same agent. A county court claim has been issued for an amount of rent oustanding less than £1000 but has nearly doubled due to their charges and fees despite the claim form stating no solicitor has been instructed... No breakdown of fees was given with the tenancy agreement (referred to as an appendix but not provided) and has been requested twice but not provided so we are minded to dispute the claim based on the unreasonable fees (the rent is still being paid by the tenant) http://s6.postimg.org/hcha1cpm9/img023.jpg http://s6.postimg.org/god0w5ga9/img024.jpg http://s6.postimg.org/th14w2rw1/img025.jpg Any views welcome please
  14. Hi. I am currently going through with a DRO (debt relief order) and it's taking longer than I would wish, plus the guy from Citz Advice is not really helping at all. I get back tonight and 2 letters. One is from Collectica, saying I now owe them £215, £140 of the remainder of the fine and £75 for their BS fees. I have been paying this weekly, missed a week here and there but generally up to date, it was for a motor fine with courts. This is not in the DRO as fines can not go in dro. However the 2nd letter is off CCS Collect. Saying I owe upto £300 for variou HMRC stuff. This fine is in DRO. They have 'threatened' with action if I do not pay them etc. They say 'our clent hmrc has authed us to recover full amount due. we regret that if no payment in 7 days or an offer to pay etc we will advice cliebnt to litigate amount due with court costs and court fees. This is in the DRO so what's going on? Can anyone shed light on these 2? I have been working in the library on new business ideas all day and the last thing I want to come home to is this ****!
  15. Hi, I am new to this site, but hopeful that someone can offer me advice. I stupidly, and under duress, signed as a Guarantor for my friend, for a mobile phone contract. This was around 5 or 6 years ago. This 'friend' ran up a debt of £700. The debt has been passed to Lowell's who are chasing me for payment. I spoke to the 'friend' in October 2014, who agreed to pay, and she set up a payment plan with Lowell in October 2014. She made 1 payment and cancelled the direct debit, so Lowell are now chasing me again. I have spoken to Lowell to ask why they are coming directly to me each time she doesn't pay, and I have advised them that she has the means to pay. ..she has a caravan and car on her drive, which are worth more than the debt. They say that's how it works. I feel they should be using every means necessary to recover the debt from her before they resort to chasing me. Am I wrong? I am at the end of my tether...I am a single mom with 2 children, a mortgage and no support. I suffered with depression for 2 years after redundancy, which put me in a lot of debt. I have spent the last 4 years dragging myself out of depression and am proud that I have started my own business and am now debt free, although every day is a struggle to stay afloat. And now this debt has come back to haunt me! This 'friend' has a partner, who works; 6 children, a caravan; goes on holiday; kids do all kinds of paid activities...so why should I pay for her debt?? Any advice would be welcomed
  16. Partner and i are due to rent a property. They have told me that my partner would be 100% responsible for the rent as he earns more than me. Despite this they have told me as i have a CCJ i would need a guarantor who has a proven income of £22,000?? My partner is earning all the money to pay for the rent (3 x what the they need for minimum amount) yet they say i need to fin someone who is earning £22,000? Why do they need someone earning over 22,000 for my share if the contract has my partner down for 100% of the rent?? Can my partner be my guarantor? Another thing the estate agent told me that experian make the decision and they have now *closed the case* ........i called experian they said they provide the reports that's all they do not make decisions like that. Is it just me or does this seem odd?
  17. I stupidly agreed to stand as guarantor for a friends daughter to enable her to rent a house. I received an email from the letting agent on 15th July asking me to sign the agreement they attached for the tenancy which started on 4th July. In this agreement it stated that ID was to be taken personally into the agents office or witnessed ID was to be sent in, neither of these was requested. I did not receive a copy of the tenancy agreement and had to email the agent to ask how long the tenancy was for. I have since written to the head office of this company stating these facts and that as there are discrepancies with the agreement I am releasing myself from any such agreement. I sent 2 letters recorded delivery in October and Nov and have heard nothing. Saturday I received a letter from head office of this company stating that the tenant us in arrears with their rent and they will come after me for the money. Do I have a leg to stand on?
  18. I apologise if this has been covered on another thread, I have tried to scroll through to see. My husband stood as guarantor for my niece for her rent on the promise she would put £100 a week into a savings account we set up for her should she ever falter on the rent. She hasn't been doing this and I am trying to find out if he can be released from the contract. Does anyone have any information on this please?
  19. Hi all, Need some advice please. I stood guarantor for my daughter for her rent on her first home. She is experiencing difficulties due to preferring to work rather than claim benefits but the Council are really dragging their heels over sorting out any help she will be getting. I am aware of my obligations and am not trying to wriggle out of them however the Landlord is not one of the nicest people in the world and we find out later he has a reputation for being a bully boy and going to the courts at the drop of a hat. My current query is that today I received a copy of a letter sent to my daughter saying her rent is overdue (1 months) and that if payment is not received by 1st September he will commence Court proceedings against me for payment. The letter was to my daughter and I was just sent the copy. I am seriously aggrieved that he has not contacted me personally in all this and is threatening my daughter over 1 months rent when he knows she is waiting for some assistance to come through. I don't mind paying for her but I object to his approach and was wondering if he did issue papers would I have any grounds to object because there is some procedure he should have followed. I really don't like his attitude and want tomake him work for any payments off me because of this. If he had sent me a letter explaining the shortfall without threats than it would be a different matter. Looking for somewhere else for her to go but when she vacates I fear he will use me as a cash cow to renovate his dump of a house.....he has done this before,claimed for all sorts of cleaning and repairs off the guarantor despite the house being reasonable. (wonders of social media) Any advice appreciated....except the don't be a guarantor type.....heard it all before thanks, lol.
  20. Hope this is in the correct place? Would appreciate some views on whether this would stand up in court - have no intention of it getting to that stage but am wondering how it would be possible to get out of the obligation - aware that the tenancy wouldn't continue if no guarantor was in place. This makes no mention of the amount of rent due, and no word in this states it is a deed or to be taken as one. It says "this AGREEMENT is made BETWEEN the Guarantor and the Landlord Guarantor _____________ Address _______________ Landlords (Agents details) Address (Agents address) Tenant(s) ____________ Property _______________ Proposed tenancy commencement date ____________ "General Notes This is a contract by which the Landlord agrees to grant a tenancy in consideration of the Guarantor’s agreement to act as surety for that tenancy agreement. • This agreement is for use with the letting of residential property and their associated tenancies. As such, this is a legal document and should not be used without adequate knowledge of the law of landlord and tenant. Practitioners are advised to read the guidance notes that accompany this agreement. • It is essential that a copy of the proposed tenancy agreement is attached to the Guarantor Agreement and that the Guarantor is given adequate opportunity to read both documents before signing. • If the guarantor is not able to be present, in person, to sign the guarantee it is recommended that the guarantee is signed at least seven days before the tenancy is due to start. • This agreement has been drawn up after consideration of the Office of Fair Trading’s Guidance on Unfair terms in Tenancy Agreements." 1. The Landlord agrees to let the Property to the Tenant(s). In consideration of this, the Guarantor agrees to act for the Tenant(s) should he/they fail, for any reason, to meet the financial commitments arising from the Tenancy Agreement entered into in respect of the Property. 2. This Guarantor Agreement refers to the current tenancy being undertaken and any extension or renewal of that tenancy. All references to the Landlord herein shall be deemed to include the Landlord's Agent or any person authorised to act on the Landlord's behalf. 3. The Guarantor undertakes to pay to the Landlord from the date of this Agreement from time to time the Rent within 10 days of receipt of a written demand from the Landlord or his Agent addressed to the Guarantor if the Tenant following demand has not paid the amount being demanded when it was due under the Tenancy Agreement. 4. The Guarantor shall pay and make good to the Landlord on demand all reasonable losses and expenses of the Landlord incurred as a result of default by the Tenant in the performance or observance of the Tenant's covenants under the Tenancy Agreement. Any failure of the Landlord in demanding or collecting the Rent when it falls due, and any time to pay which may be given to the Tenant by the Landlord shall not release the Guarantor or in any way affect the liability of the Guarantor under this agreement. Should the Guarantor die during the currency of this agreement, the Guarantor’s estate will be liable as surety and co-principal debtor. 5. Where the Rent, or any portion of it, is paid by housing benefit or other benefit scheme, the Guarantor agrees to pay the Landlord or Agent for the amount of any claims arising from overpayment, which may be made by the local authority in relation to the specified Tenant(s). Such overpayments may occur at any time, either during the tenancy or within six years thereafter. 6. If the tenancy is for a fixed term, then this guarantee applies for the whole of the term and is not revocable during that term. 7. If the tenancy is periodic or has become periodic by agreement or the operation of law, then this guarantee may be terminated by written notice by the Guarantor subject to the Tenant vacating at the earliest legally permissible date required for possession. If the Tenant fails to vacate on this earliest date then the guarantee shall continue until the Tenant vacates. 8. It is agreed that there shall be no right to cancel this Agreement once the tenancy has begun and the Consumer Protection (Distance Selling) Regulations 2000 shall not apply in this case. SIGNED by GUARANTOR: __________________________________________________ _________________________ DATE: __________________ SIGNED by WITNESS: Name: __________________________________________________ ______________________ Address: __________________________________________________ ______________________ __________________________________________________ ______________________ __________________________________________________ ______________________ Witness Signature: __________________________________________________ ______________________ SIGNED by the Landlord / Agent : __________________________________________________ ____________________________________ XXXXXXX (agent for Landlord) XXXX XXXXXXXX Currently the contract is due to run out, no mention of renewal has been made to the tenant, the agent has been shoddy at best with paperwork with one instance court paperwork being issued against the guarantor and £300+ in fees being added to the account without anyone even receiving prior to that a written notification tenant was behind... Any opinions would be appreciated.
  21. hi, im new to this thread, need some urgent help ,it all started in 2009 when family member started buiseness. unfortunatley the buiseness folded in 2011. then suddenly i started to get letters from national westminister bank for £15k overdraft payment. after enquiring with them they said i was reponsible for the dept as i was the guarantor. this was a shock to me as i never signed the guarantor documents. they asked me to produce 5 signatures of mine, which i posted to them. then i got the shock of my life when they went to court in my absence and got the ccj against me by shakspears solcitors on behalf the bank. they also wanted the charge on my property. then i wrote to court to have the case put on side as i was not aware of the situation and never received any papers to appear in court. i had the hearing on the same day as hearing for the charging order which was on the 19/06/ 2013. i went to court and judge did put the case on side as the judge did not think the signature matched that was on the guarator documents. then the judge did tell me to notify the fraud squad about the situation which i did. the judge also told the claiment to investigate on the signature and gave 8 weeks. yesterday i got a letter yesterday saying the fraud squad have said there is no fraud involved in it. need help what do I do now. i'm worried.
  22. hi all, my girlfriend needs help, she paid a deposit for her granddaughters rented flat it appears the documents she signed stated that she was a guarantor ,now the granddaughter is being evicted and they want the arrears from my girlfriend , she has been in touch with the letting agent and told them that as she is an old age pensioner she cannot afford to pay ,I suggested that she pays them a £1 a month but I cannot find the template letter can someone point me in the right direction or give me advice .thanks
  23. First of all hello, just recently found the forum. Oh, I have been so so silly. I bought a caravan on HP in 2008 over 60 months, last year I sold the caravan and didn't get enough for it to pay off all the loan. I know now that I shouldn't have done this, that I could have let them take it back as I'd paid half the loan. I feel so stupid, but I really didn't know this, and I didn't realise I couldn't sell it on either. I've made such a big mistake. I have never defaulted on the loan payments, I'm still just about managing to pay everything I owe (there are other debts too) but it's tough as I'm a single widowed mum with two kids and I"m a full time student, so just about manage to meet payments by using my student loan etc too. If anyone has any advice how best to manage this and get myself out of this pickle I'd appreciate it. I'm a bit scared now I know I could be prosecuted for selling the caravan with outstanding hp, I have no idea where it is now.
  24. Help with aggressive HSBC AND EVERSHEDS ! A family member incorporated a business in 2007 with a partner and 8 months later they were offered a loan of nearly £400,000 by HSBC (they had no trading record at that time) to buy a business. Both parties needed to secure the loan. The family member needed to guarantee their part of the loan but also needed to have a security guarantor as they had no assets or trading assets. The family member put sever emotional pressure on their parents who agreed to be guarantors using their house as security, joint and several. The family member then stopped all communications with parents and in 2010 went into liquidation leaving the 60+yr old parents high and dry. There has been much investigation done into this matter by parents and with the costly advice of a solicitor(which they cannot afford any more), and it turns out that the following has occurred-all supported with documentation -The bank and solicitors and business bought in 2007 all knew each other -the loan was irresponsible lending as the incorporated business had no trading assets and had only been running for 8 months -for the guarantors - no indépendant légal advice was given, no cooling off period was offered, no copy of credit agreement setting out payment terms and amount etc was given , no survey done on property or background check(i.e. age of guarantor) done -legal charge was signed in front of family member,and with all parties of the business present by the banks recommended solicitor -no yearly statements by the bank as to the payments made has ever been sent to guarantors. -guarantors had nothing to do with the business and knew nothing of how it was trading -no whitewash procedure was ever carried out over the business that was being bought -no financial gain was ever offered or received by guarantors -2010 family member sold part of the business and then went into liquidation-mislaid monies found in 2013 -HSBC AND Eversheds continue to avoid providing documents or breakdown of the debt. -issues have been raised over the legality of the legal charge paperwork and its registering -guarantors been threatened with legal action 4 times over the last 4 years. On the first notification that the debt was due in 2010 the guarantors independently sort the advice of a debt advisory service and completed a statement of means, and made some payments but were later advised to stop while further queries were made. -guarantors unsure if bank or solicitors have followed MARP or banking protocols, -guarantors now have completed statement of means again for Eversheds as advised by solicitors (they are no longer acting for us as they need to get paid even though they say we have a case). We desperately need help with this matter-both parents are ill one with cancer and have no funds. I am supporting them with all my wages(at the detriment of my own young family) and cannot begin to imagine how loosing their home would effect us all. It now seems inevitable that they will loose their home as we cannot afford to fight them off and they are determined to ignore any requests, lie and get away with it. Please can someone tell me that we have a case and what can we do about it. Having never been in this situation we don't know where to turn. Financial Ombusman was rubbish and didn't want to know. If it goes to court will a Judge at least listen to all the facts and do we stand a chance of having no possession order. And if they don't persue it through the courts (bearing in mind that it has been 4 ys) what can we do to stop this painful process. We are at our wits end and its heartbreaking to see your own parents cry. It has torn the family apart. Especially as the family member has a lovely new car and very very well paid job.
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