Will you send any paperwork to the guarantor?
We will post a confirmation letter to the guarantor when the loan is paid out and monthly statements so that they know how the borrower is getting on with their repayments.
If a monthly payment is late, we will notify both the borrower and guarantor as soon as we know, but we will always try and work with the borrower first. If we're unable to do this, or if we can't get hold of the borrower for 14 days, we'll let the guarantor know and then collect payment from them.
As this is a dual responsibility loan, it is important that both parties are kept up to date at all times.