GUARANTOR LOAN CLAIMS

Did your lender offer you the loan without making thorough checks on your financial situation, or were you asked to be a guarantor without being given all the facts?

Again, you may be eligible to make a claim.

Amigo and other guarantor loan companies have recently come under scrutiny for their high interest rates, flawed lending criteria and affordability checks.

The need for more responsible lending is hitting the headlines and with it comes further opportunities to pursue claims.

If you think you may be eligible to make a claim, as either a borrower or a guarantor, then call us now and speak to one of our expert guarantor law solicitors in Liverpool on 0151 909 6120

HOW DO I KNOW IF I COULD BE GIVEN A GUARANTOR LOAN REFUND?

Our team have been successful in winning back thousands of pounds for our clients and are here to do the same for you.

Once we have the relevant information from you, we will do all the hard work for you and keep you informed of how your claim is progressing.

If you have any questions then you can contact us at any point, but if you’re undecided as to whether you should proceed in starting a claim then here are some points to think about.

If any of them are relevant to you and your situation, then get in touch as there’s a high chance we will be able to make a successful claim:

• During your application process, you may not have mentioned all of your debts and if this didn’t match with your credit record, the lender should have ensured to reaffirm this.
• It is possible that you underestimated your monthly expenditure due to guesswork or eagerness to be eligible for your loan and in such circumstances, if your figures appeared too low, your lender should have explored their reliability further.
• At the time of your application did you have a regular income? If you were self-employed during this period or even had overtime that fluctuated, the lender should have looked at this.
• Did you have evidence of recent applications for credit or previous problems on your credit record? Guarantor loans are specifically targeted at those with bad credit scores. However, the lender should have been conscious of whether your situation appeared to be worsening.
• Whenever you topped up an existing loan, your lender should have run another set of checks concerning whether this was affordable. Had you missed any previous loan repayments? Had your finances deteriorated since your first loan? If so, the lender should have addressed the fact that their current loan could be unaffordable and as a result, capped any more lending.
• The firm may only have carried out a brief affordability check on you because of your guarantor’s circumstance. Regardless of your guarantor’s financial status, the loan needed to reflect your personal repayment potential.

If you had to borrow more money or became behind with bills as a result of your guarantor loan repayments, you have grounds to make an affordability complaint.

This is regardless of whether you are still paying the loan, have stopped paying the loan and are relying on your guarantor or even if the loan has been repaid.

Ready to make a claim? Call us for a FREE consultation on 0151 909 6120

or   Start Your Claim