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  3. Is the loan on the guarantor's credit file?

Is the loan on the guarantor's credit file?

The Amigo Loans account does not display on the guarantor's credit file.

As part of our checks before paying out the loan, we look to make sure the guarantor is financially stable and hasn’t had trouble paying back their bills in the past. We do this using special type of search called a “quotation search” which will not affect their credit score.

The only instance in which the guarantor could find their credit file and score affected is if both the borrower and the guarantor do not pay and we are forced to take court action. Where the court judges that the borrower or guarantor must pay and they still refuse, after 28 days the court will record the judgement on their file. This is called a County Court Judgment (CCJ).