Legal Question in Credit and Debt Law in United Kingdom

I am afraid that you must accept that you are in a difficult position probably because of your kindness to the person who took out the loan. It is unlikely that you would have any defence should be loan company bring court proceedings and you must talk to them in order to avoid this.

Your only remedy would be to bring an action against the person for whom you stood guarantor and in it seek an indemnity for any amount you will have to pay to the loan company.

This is unfortunate but if we can help in any way please let us know.

Andrew Dutton

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www.legal-zone.co.uk