Driven mad by bank loan
I agreed to act as guarantor on a loan for my grandson’s partner when they bought a car. But they split up after 18 months and she is no longer making payments. The bank are chasing me for the cash. Is there anything I can do? Unfortunately not as the bank are legally able to look to you for payment. But you do have a right of action against your grandson’s partner for your outlays. Speak to a lawyer or consider a simple action if the amount is £5000 or less.