Anjit Used A Guarantor Loan To Replace Three Piece Suite
In this blog we take a look at Anjit, a 35 year old computer analyst from Bedford who was turned down by one of the major furniture outlets when he was out shopping for a new sofa in the New Year sales.
Unfortunately for Anjit, his existing three piece suite had literally fallen apart a few days beforehand and he has been sitting on the floor on cushions ever since. He couldn’t believe it when the customer services representative gave him the bad news and he had to leave the store empty handed and slightly embarrassed.
Anjit knew deep down inside what had caused the credit refusal but up until this incident he had not been in a position where it had affected him.
Anjit had been a little careless with two credit cards in the past 12 months by neglected to make payments by the agreed dates a few times. Despite having a reasonably well paying job Anjit was, by his own admission, bad with money.
Anjit had a chat with his brother Sanjay about what he could do. Sanjay was great with his finances and told Anjit to get himself a credit report to see how bad the situation really was. The plan being that once Anjit knew the extent of the credit report he could then make a plan to get the funds together for the new three piece suite he needed.
Unfortunately, the report showed a number of discrepancies that meant most options for credit were no longer available to Anjit. He stressed about it for a while before again speaking to Sanjay to see whether he would lend him the funds. Sanjay had bailed Anjit out a few times in the past but this time he felt that Anjit needed to understand the value of money and learn to stand on his own two feet. So Sanjay refused to directly lend him the money.
Anjit and Sanjay had a long chat and Sanjay explained his thoughts detailing why he would not directly pay out the funds to Anjit. Anjit was a little put out to start with but soon agreed that it was unfair for Sanjay to be responsible for his own financial failings.
A few more days passed when Sanjay saw an advert for a guarantor loan. He thought immediately that this would be perfect for Anjit. When he left work that evening and went straight round to Anjit’s house to put the idea to him.
Anjit agreed it would be a good compromise if Sanjay acted as guarantor and Anjit paid the money back directly to the guarantor loan company.
They went onto the internet and started looking at potential providers. Sanjay encouraged Anjit to do a bit of research on them all, looking at their reviews as well as their websites and social pages. Anjit eventually short listed two companies to get in touch with and put in an application with George Banco.
As agreed Sanjay acted as the guarantor and Anjit was able to borrow £2,000 from George Banco in order to replace his three piece suite. The money was transferred to Sanjay’s account within 48 hours. Sanjay then sent it on to Anjit’s account later that day.
The following weekend they were able to return to the furniture shop in question and re-order the three piece that Anjit had looked a few weeks beforehand.
If you are in a similar position to Anjit and have been turned down for credit but need to replace something vital then perhaps it would be worth applying to George Banco to see if you are eligible?
Please Note – Certain details have been changed for data protection purposes.