How do I stop being someone's guarantor?

JoJo12 (4 yrs ago)

I have decided that I dont want to be a guarantor anymore, what are my options?

FLM Loans (3 yrs ago)

Once an agreement is signed this is legally binding. We cannot remove or change a guarantor until the loan is paid off in full. 

However, the applicant can apply for a top-up once 12 repayments have been made. At this point the applicant can change guarantors as long as the new total loan amount doesn't exceed £3000. To top-up to a higher amount, the applicant would need to remain with their existing guarantor.


Also, with all new loan agreements that get paid out we offer a 14 day cooling off period. This is from the point it gets paid into the guarantors account. Click here to read more about the cooling off period.

Comments (4)

jon (3 yrs ago)

i have said that i will be a guarantor, but i don't feel i can be due to my circumstances, please could somebody call me??

FLM Loans (3 yrs ago)

Don't worry. If you have not yet spoken to a caseworker about having the loan paid out, no funds will be transferred. A caseworker will call you, and when they talk to you they will run through an affordability check anyway. Even before they do this you can tell them you no longer want to be guarantor and they will cancel the application with you as guarantor. We dont want to put anyone under financial hardship or finanical strain, which is why we do the affordability calculations with applicants and guarantors.

If the loan has been paid out, you have 14 days in which you can withdraw from the loan and pay it back in full with no interest applied. Just let us know in writing to or to our address: FLM Loans, 56-58 Richmond Hill, Bournemouth, BH2 6EX. This is called your 'right to withdraw'.

shady (2 yrs ago)

as a guarantor and someone with a loan fails to maintain repayments and my financial circumstances change where do i stand ??.

FLM Loans (2 yrs ago)

Hi shady,

As per the agreement, the originally agreed payment figure must be maintained every month. If the person you stand as guarantor for is unable to pay the full amount and neither can you, then you need to find a way to make the payment between the two of you, as the very reason why we asked the borrower for a guarantor before we paid out the loan was to ensure that someone can help the borrower maintain the instalment figure every month in the situation where the borrower struggles.

If it helps, the borrower or the guarantor can change their payment date as a way of delaying the payment. However they must maintain one payment every month, and there are certain rules applying to payment date change, which you can view in our answer center. Just go to and search for 'change payment date'.