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Home > Ask The Get Out of Debt Experts > I Am the Guarantor for My Daughter’s Car in the UK and She Can’t Pay. – Marie

I Am the Guarantor for My Daughter’s Car in the UK and She Can’t Pay. – Marie

“Dear Jon,

I went guardtor for my daughter for car and she cant pay for it as her circumstances have changed she had a baby and only works partime gets about 400 a month car is 293 amonth she has made agreement to lower payment but stopped paying now i am resposible but i have mobility car so i dont need it can i hand it back

can i hand it back and what would i have to pay the balance

Marie”

Marie,

Unfortunately when you guarantee a loan or account, you are just as responsible for that debt/account as the other person, and if they cannot make the payments, then the bank or finance company will look to you to pay, so again unfortunately you do owe this.

As for handing the car back, you will need to review the contract or agreement for the financing of the car. You may be able to hand the car back, but you can still be responsible for any loss or remaining balance on the account.

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You mentioned you are eligible for motability; it may be a stretch, but you may want to look into the possibility of switching cars on the motability scheme and having your daughter’s car on this and giving back the one you have.

I realise it is a bit of a chance, as you may have a specific modified car, and may not want your daughter’s car, and the benefit may not be able to be switched over, but it is something to look into as you will owe the balance on the car/loan you guaranteed.

Let me know what you decide and we can look more at this for you.

Regards,

Jon

Jon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.

If you have a question you’d like to ask about how to get out of UK debt, just use the online form. I’m happy to help you for free.

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About Jon Emge

Jon Emge
Jon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.If you have a question you’d like to ask about how to get out of UK debt, just use the online form.

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