1 / 16

Guarantor Loan Refund

When you applied for a Guarantor loan the lender should have checked to see if the loan is affordable to you before allowing you to borrow the money. Just because you had provided someone who would u201cguaranteeu201d the repayment of the loan, does not give the lender the right to ignore affordability.

redbridgefinance
Download Presentation

Guarantor Loan Refund

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Guarantor Loan Refund

  2. When you applied for a Guarantor loan the lender should have checked to see if the loan is affordable to you before allowing you to borrow the money. Just because you had provided someone who would “guarantee” the repayment of the loan, does not give the lender the right to ignore affordability.

  3. We know that Amigo lent to a lot of people who could not afford the repayments, they did this as they were looking to sell the company and they wanted to make it look better that it really was, by having more customers on its books. They admitted this and changed the lending model in mid-2019, but a lot of loans in previous years were mis-sold.

  4. We work on a true No Win No Fee basis if when we complain about a Guarantor Loan we win, the refund is deducted from any outstanding loans you still owe the lender. If you have already repaid the loan you will get a refund of the interest you paid plus 8% statutory interest added. We only charge our fees on the net amount you win. So if you are not sent any money, we do not charge any fees. There is no risk to you at all. Have a look at our page on fees for some examples:

  5. The person who guaranteed your loan (the guarantor) will not be affected by you making a complaint. They should not be told that you are making a complaint and nothing will change with them as long as you keep making repayments. If they have made payments on your behalf we often get the money back for them and because we are decent people, we do not charge our fees on any money returned to your guarantor

  6. The Guarantor lending market is a strange one as the loan is guaranteed by someone other than the borrower. So if the borrower does not pay the money back, the lender goes to the guarantor to get the money. This has caused a lot of upset and distress for both borrowers and guarantors.

  7. For more update , visit us https://www.redbridgefinance.co.uk/guarantor-loans

More Related