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.
- 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?