Frequently Asked Questions

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  3. Being a Guarantor
  4. When might you ask my guarantor to pay?
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  2. FAQs
  3. Payments
  4. When might you ask my guarantor to pay?

When might you ask my guarantor to pay?

When you have stopped paying 🤔

  • Only if your loan account goes into arrears (has money owing) and
  • The lender has not been able to agree on a plan with you to get the payments back to plan or
  • Have not been able to contact you.

⇒ Then the lender may contact your guarantor to ask them to make a payment, this is to make sure that your account does not fall further behind.


Note:

  • If you make your payments as agreed and on the correct dates, there should be no need for the lender to ever contact your guarantor.
  • Even if you miss any payments, usually the lender will try to work with you to get things back on track first.
  • If the lender does ask your guarantor to make a payment, they will contact them in good time to let them know the situation, usually, once an account is two weeks or more behind.

 


Money problems see: Where can I get advice if I am having money problems?


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