Why was my guarantor declined?

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Don't worry if your guarantor has been declined, the most important thing is we should still be able to help you get the money you need.

You just need to find someone else to be your guarantor instead. As soon as you've found someone new, we'll check that they meet our criteria and will then arrange paying out the loan.

There are a few reasons why we're unable to accept someone as a guarantor, but the most common is if their credit score doesn't meet our criteria.

If someone is a guarantor, it will be up to them to make the loan payments if you did not. By looking at their credit score, it allows us to see if they've kept up with their own bills in the past. This helps us to decide if they would be a suitable guarantor.

Other reasons include:

  • If they share finance with you (we need to ensure that they are financially independent from you)
  • If they aren't aged between 19-75
  • If they're not a Canadian resident
  • If they're already a borrower or guarantor on a loan with us

We are checking your information. Please be patient.