We all make mistakes, but not all errors are of the same magnitude or importance in life. Some mistakes can have a hugely negative impact on your life. Calling your partner by the name of your ex or leaving your glasses in work just before the weekend are massive mistakes that can cause a lot of problems. However, if you are looking to claim a guarantor loan refund, some mistakes can ruin your chances of receiving money and freeing yourself from stress.

It doesn’t have to be this way. By looking at the shocking mistakes other people have made when claiming a guarantor loan refund, you can avoid these errors and poor judgment calls. In life, there is a lot to be said for learning from others, and you don’t need to do things alone. If you are looking for assistance in avoiding the mistakes which harm your guarantor loan refund, help is always available.

Not knowing the key questions to base your complaint on harms your guarantor loan refund

If you are looking to raise a claim against a guarantor loan lender, there are some key issues you need to know and have in place. Therefore, if you don’t have this information or you cannot answer questions on these issues, you will hamper your chances of receiving a refund that is due to you.

• Not knowing you should be able to point out how much you borrowed is often a mistake that hampers your claim
• Not knowing how long the loan was to be paid over is a mistake that ruins your claim
• Not knowing that you can claim if the loan was unpayable is a massive mistake when it comes to reclaiming your loan
• Even if you manage to pay the loan each month, this doesn’t mean the loan is payable. If you found yourself not paying over bills or arranging other financial support to pay these bills, the loan is unpayable

Now that you know these mistakes, you can turn them around to enhance your chances of arranging a refund on your guarantor loan

Not knowing the main reasons a guarantor can complain harms your guarantor loan refund

The role of the guarantor is crucial in arranging a guarantor loan, and not knowing the reasons a guarantor can claim about the loan hampers your chances of successfully requesting a refund.

• If the loan was unaffordable for the guarantor, it shouldn’t have been issued
• If the guarantor and borrower had other financial links, the loan shouldn’t have been issued
• If a top-up loan was issued without being property explained, the loan shouldn’t have been arranged
• If the guarantor was pressurised into the role, the loan shouldn’t have been issued
• If the borrower or guarantor doesn’t know what the role of a guarantor meant, the loan shouldn’t have been issued

These are all critical issues in claiming a refund on a guarantor loan and not knowing them is a huge mistake.

Not knowing help is available hampers your guarantor loan refund claim

One of the biggest mistakes that might harm your guarantor loan refund is not knowing help is available. Yes, you can claim directly against the lender, and you can complain to the FCA and FOS if you are unhappy with the outcome.

However, you can also claim support from experts in this field, enhancing your chances of achieving success in reclaiming your guarantor loan refund.