i am a gaurentor on a loan with my ex?

my ex took out a loan and i was a guarentor i was not aware of it as the bank didnt really explain what it was he just said its nothing special but didnt go into detail anyway probs its my fault should of read the paper anyway not longer with my ex now she had all the money i didnt recieve any of this money she brought loads of diffrent items and i didnt recieve a penny of this where do i stand as i am expected to help my ex to pay this loan off as she gone into an iva also ive had to go on a payment plan scheme to pay off this debt can someone please help me out as i am really dispressed and just dont know what to do

2 Answers

Relevance
  • 9 years ago
    Favorite Answer

    Ask your parents for some guidence on this first of all. It's doubtful that you'd win in any court case either unless there's extreme proof that you received absolutely nothing from the loan or that you signed it while under age but I have a feeling as you probably do-you can't win this. You are bound to this agreement so it's yours as much as it is hers. Consider this an expensive lesson for life to be careful what you sign, with whom and for what-hopefully this lesson will serve you well in the future and maybe save you from much bigger problems later.

  • WRG
    Lv 7
    9 years ago

    Yes, if he doesn't pay the bank they will come after you.

    And yes it is your fault for not reading what you signed.

Still have questions? Get your answers by asking now.