Guarantor Loans

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    Jenny
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    Hi,

    I’m looking for some advice – my ex bamboozled me into being his guarantor on a loan, at the time the theory was to get something in place to increase his credit rating, as it turned out the loan was to fun his mistress! I have tirelessly tried to have my name removed as a guarantor since we separated but with no joy. I have been advised by the loan company, quite rightly, that I signed an agreement and therefore I am liable.

    The only option I have is for him to pay off the loan. I forced his parents to give him the money which he subsequently spent and the loan is still live. He’s lost all of his friends and family due to the affair yet every month I have a battle with him to get it sorted.

    Has anyone had a similar experience to offer some advice?

    Thanks in advance,

    Jenny

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