Choice Blog

What happens if you can't repay a guarantor loan?

Last post: Feb 5, 2018

Taking on a guarantor loan means promising your nearest and dearest that you will be able to repay what you owe. But what happens if you find yourself unable to honour that promise? Our experts explain...

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Are guarantor loans the new “Bank of Mum & Dad”?

Last post: Jan 4, 2018

With younger people struggling to fund everything from higher education to their first step on the property ladder, many parents are also starting to feel the financial pressure making guarantor loans a more realistic option than a loan from the “Bank of Mum & Dad”.

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Guarantor loans: A cheaper alternative to your overdraft?

Last post: Nov 16, 2017

With some banks now charging up to an eye-watering 81% interest on arranged overdrafts, opting for a guarantor loan to cover emergency expenses could be the more affordable option. Here's why...

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3 Important facts you need to tell your guarantor

Last post: Oct 20, 2017

A successful guarantor loan is a loan taken on by a creditor and a guarantor who fully understand the product they're working with. An informed creditor is more likely to meet repayments and an informed guarantor is more likely to feel comfortable and secure with the process. So what do they need to know?

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Who can't be your guarantor?

Last post: Sep 12, 2017

While your nearest and dearest may be eager to help support you by acting as a guarantor for your loan, there are a few cases in which some individuals may not be able to be your guarantor. Here's a helpful checklist...

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How to present a budget that will convince prospective guarantors

Last post: Aug 10, 2017

Asking somebody to be your guarantor, whether it's a friend, a family member or even a colleague, can be tricky. You need to be 100% certain you can meet repayments and they need to be positive too. Presenting them with a clear budget could make all the difference.

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