Will the guarantor be notified of a missed payment?

Ms357 (1 year ago)

Will the guarantor be notified of a missed payment by the applicant? and how much notice is given before the guarantor has to pay? As I wasnt notified of a missed payment!

FLM Loans (3 mths ago)

If the Direct Debit we set up with the applicant were to fail, we would send you both a text message once we find out and immediately attempt to take the payment from the applicant's secondary payment method.

 

Should we still be unable to collect the payment from the applicant, we will then need to rely on your responsibility as guarantor by approaching you to collect the amount due with the payment details that we collect from you initially.

 

It is important that you keep your contact information up to date, as part of the agreement, to ensure we can notify you as soon as possible if any problems were to arise.