Why do you need direct debit details for a guarantor?
Ace666 (1 year ago)
If the loan is for my friend and they will pay it back then why do you need my direct debit details?
FLM Loans (10 mths ago)
We ask for direct debit details from the applicant so they can make the monthly repayments.
We ask for direct debit details from the guarantor to cover the repayments should the applicant become unable to pay and falls into arrears.
As long as the applicant keeps up their responsibility of paying the loan on time every month, you will never be charged.
We ask for direct debit details from the guarantor to cover the repayments should the applicant become unable to pay and falls into arrears.
As long as the applicant keeps up their responsibility of paying the loan on time every month, you will never be charged.
Comments (2)
FLM Loans (2 yrs ago)
Sorry, we do need your guarantor to have an account and a debit or credit card. We need to be able to get our money back should anything happen and you're not able to make a payment.
Morgan (2 yrs ago)
Hi, my guarantor doesn't have a bank account. My Mum owns her own house and has a credit card and is credit worthy but doesn't have an account.