Will you credit check the guarantor?
We will look at the guarantor's credit file to make sure that they are financially stable and haven't had trouble paying back their bills in the past.
We do this using a 'Quotation Search', which will not affect their credit score held with the credit reference agencies. Anyone searching their credit file wouldn't be able to see that they're a guarantor on an Amigo loan, or even that they're linked to the borrower.
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).