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spygirl

Guarantor loans.

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When did these become mass market and available to plebs?

What the fuck do people expect the outcome of a 60% apr loan to someone with a pot to piss in?

And do they know what tge word 'guarantor' means?

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1 minute ago, Roger_Mellie said:

My brother in law's getting wed in September. I get home from work and my mrs. Says 'X has been on the phone, he wants to know if we'll guarantee a 5k loan for him to pay for his wedding'

My response: 'Get back on the phone and tell your brother to get fucked', she said 'I've already done it'.

Why anyone would guarantee a loan for someone else I have no idea!

6 months.

If both work weekends, 1000/m, they pay for it, no probs.

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8 minutes ago, spygirl said:

6 months.

If both work weekends, 1000/m, they pay for it, no probs.

It's worse than you think... He often brags about being a top rate tax payer. Which I've no doubt he is. The question me and my mrs. Have is why does he never have a pot to piss in? It must go beyond being bad at managing money.

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My daughter needed a guarantor for her student flats when she left home. Although I thought she probably wouldn’t turn out a tosser you can never be sure so I had to decline (she understood) and her father and my nephew have signed them. Thankfully she is soon to be full time employed in a decent job with prospects so it won’t be an issue any more.

No way would I ever act as a guarantor for anyone, ever. I manage my own life expenses very carefully and most certainly can’t afford to pick the tab up for someone else.

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5 minutes ago, Economic Exile said:

My daughter needed a guarantor for her student flats when she left home. Although I thought she probably wouldn’t turn out a tosser you can never be sure so I had to decline (she understood) and her father and my nephew have signed them. Thankfully she is soon to be full time employed in a decent job with prospects so it won’t be an issue any more.

No way would I ever act as a guarantor for anyone, ever. I manage my own life expenses very carefully and most certainly can’t afford to pick the tab up for someone else.

I had to sign these form for both of my two. Reading the small print, the contracts generally say that the guarantors are responsible for the whole lot, so even if one of the others in the shared house disappears, you are potentially liable. I was not happy 

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Mate of mine admitted the other week he had been persuaded by some chancers he got along with to sign as guarantor for their mortgage on a house in the early 2000's. None of them had a pot to piss in (temping in warehouses as I remember) and I'm fairly sure he still doesn't understand what he was agreeing to xD

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8 minutes ago, Economic Exile said:

My daughter needed a guarantor for her student flats when she left home. Although I thought she probably wouldn’t turn out a tosser you can never be sure so I had to decline (she understood) and her father and my nephew have signed them. Thankfully she is soon to be full time employed in a decent job with prospects so it won’t be an issue any more.

No way would I ever act as a guarantor for anyone, ever. I manage my own life expenses very carefully and most certainly can’t afford to pick the tab up for someone else.

The flat thing is to just get mam and dad on hook for the years rent. Annoying but nit too bad.

The loan thing is fucking nuts.

Amigo loans charge loan shark rates and still want someone on the hook.

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10 minutes ago, spygirl said:

The flat thing is to just get mam and dad on hook for the years rent. Annoying but nit too bad.

The loan thing is fucking nuts.

Amigo loans charge loan shark rates and still want someone on the hook.

I’ve just looked them up. 😱

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23 minutes ago, Economic Exile said:

My daughter needed a guarantor for her student flats when she left home. Although I thought she probably wouldn’t turn out a tosser you can never be sure so I had to decline (she understood) and her father and my nephew have signed them. Thankfully she is soon to be full time employed in a decent job with prospects so it won’t be an issue any more.

No way would I ever act as a guarantor for anyone, ever. I manage my own life expenses very carefully and most certainly can’t afford to pick the tab up for someone else.

I have a nasty feeling I am going to need my in-laws to act as guarantor when I rent my next place.

Despite them being pensioners. 

It seems that unless you own a property you are now worthless.

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Fucking hell. I looked at amigo loans and if you borrow £4K you repay £7k over three years...

It's easy to be judgemental, but you'd have to be a moron (or really really unlucky in life) to borrow money at that type of interest.

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1 hour ago, Chewing Grass said:

I thought hardly anybody got married these days as it is not worth it.

Its usually the womans idea rather than the blokes which sums it up to me.

Were you in a coma yesterday ?

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If youre prepared to guarantee a loan for someone - who will almost always be a relative - why not take out the loan for them at a substantially lower APR?

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4 minutes ago, DTMark said:

If youre prepared to guarantee a loan for someone - who will almost always be a relative - why not take out the loan for them at a substantially lower APR?

Why would you lend anybody any money ?

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4 minutes ago, DTMark said:

If youre prepared to guarantee a loan for someone - who will almost always be a relative - why not take out the loan for them at a substantially lower APR?

Is the right answer.

I think these parasites work on the guarantor not really understanding what they are signing up for.

1 minute ago, Hopeful said:

Why would you lend anybody any money ?

Because sometimes it is better than giving it to them.

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Posted (edited)
5 minutes ago, Cunning Plan said:

Because sometimes it is better than giving it to them.

I worry that most people view a personal loan as a gift

Edited by Hopeful

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2 hours ago, Roger_Mellie said:

It's worse than you think... He often brags about being a top rate tax payer. Which I've no doubt he is. The question me and my mrs. Have is why does he never have a pot to piss in? It must go beyond being bad at managing money.

Hookers and crack cocaine?

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49 minutes ago, Cunning Plan said:

 

Because sometimes it is better than giving it to them.

I’ve tended to work on the basis that either I give the person the money outright or say no. The loan alternative (outside of a proper business scenario) never seems to have any plausibly good outcome.

1 minute ago, Cunning Plan said:

Renter?

Probably has a boat and a private jet too in that case.

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Posted (edited)
6 minutes ago, TheBlueCat said:

I’ve tended to work on the basis that either I give the person the money outright or say no. The loan alternative (outside of a proper business scenario) never seems to have any plausibly good outcome.

Hmmm. I have made it clear to my son that if he needs more money than he has saved for college it will be a loan, repayable from his first pay cheques.

Does that make me a bad person?

Edited by Cunning Plan

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56 minutes ago, Hopeful said:

Why would you lend anybody any money ?

Not sure, I think you probably have to be Jewish to really get the bug.

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