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Scotty150

Can I claim against a guarantor loan as I have PDLs?

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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.

Edited by Scotty150

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You agreed a debt repayment plan and defaulted on a subs payment?

At which point the total debt was eligible for recovery from debtor/G.

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The DMP begins next month and is for £329pm total. First payment will be tomorrow.

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ofcourse you can IR on a guarantor loan..


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ok thanks , my worry was that even if this went to the FOS, it would be taken off me and fully passed to my partner.

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But technically didn't they lend the money to your partner, and not you? I don't know much about Guarantor loans, but I understand that your financial situation is largely irrelevant so I am not even sure they would credit score you or look at bank statements, they'd only be interested in your partners history.

 

As I say, not sure but as they didn't actually pay any money into your bank account I don't know if you could claim IR lending

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Well this was my original concern, that it would just be passed to my partner.

I have put the complaint in and i'll update this thread with progress.

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after waiting for 2 weeks for some kind of acknowledgement.

 

 

I messaged UKCredit and asked whether the complaint was being actioned.

 

 

As they provide no email address to make a complaint,

the complaint was sent through their online form.

 

 

Funnily enough, they have no record of a complaint ever being sent.

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