I did it for a guy once. Was really stupid because he was more of an acquaintance rather than a friend. He told me it would be for a couple of months but it took over a year for him to pay it off with many texts from the company saying he hadn't paid that months payment
In his credit he did always pay once I messaged him but in the end I told him I'd had enough and he had to pay it off and he did
Trouble is, because I did it once he kept asking again and again. I no longer speak to him over it all.
I would not do it again for anyone. |
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By (user no longer on site)
over a year ago
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I am no good as a guarantor at the moment as I am on a Debt Management Plan myself.
Learnt my lesson on how to manage my finance the hard way, better late than never they say!
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I wouldn't guarantee anyone's loan. Even they know that bad times happen despite their good intention.
For a good friend I would give them money and never expect it back.
It's just money. You don't put friends your debt.
A good friend always pays back in the end.
Money cannot end friendships.
Unrealistic expectations does that. |
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By (user no longer on site)
over a year ago
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"How many of your friends do you trust enough to be a guarantor on their loan?"
I can count them on two fingers. I have many friends but only two very close friends who I know wouldn't fuck me over.
A few years back I hit financial trouble and my mortgage fell into arrears to the tune of £6,000 so I phoned my best friend and said, "I'm going to ask you a question and the answer has to be 'Yes'", he said, "Yes," before I asked it. Then I asked him for £6k and he transferred it a couple of hours later. |
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By (user no longer on site)
over a year ago
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i would for 2 people i know and one of those is a ex girlfriend who i would help out with money if she needed help.
but generally people see charity and kindness as a weakness so will abuse friendship to get what they want.
but ex girlfriend i would help out because for a time she made me very happy. |
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When I had my accident a few years back, my best friend helped take over my life while I pulled my back up. He helped run my company and loads of other stuff. He never accept anything in return. All he said was when he was training I paid for the beer when he had nothing, so anything he needs I gladly give. |
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By (user no longer on site)
over a year ago
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Yes we would for possibly 2-3 people, I have done it before and also take the _iew that money is just money.
I'd not risk our house for it but spare capital is just that and I will help my closest friends. |
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