For the guarantor’s safety and security, the full amount is paid into the guarantor’s bank account. This helps cut down fraud and the guarantor knows exactly how much is being lent to you and the fact they are guaranteeing a loan. It also lets the guarantor know the loan has completed. Fee which will cover the costs of setting up the loan, again this varies from lender to lender; this will be clearly explained to you on your agreement before you take out the loan. You will be notified of any fees associated with the loan from the outset. If within 14 days of signing the agreement, you change your mind and decide you no longer want the loan then simply contact your loan lender and say you want to cancel the contract, you will have to pay all money lent to you in full in the 14 days for this to apply. All the details will be on your loan credit agreement. To ensure additional fees are not added to your account then you must do your up most to keep up the repayments as agreed on in the terms of your  guarantor loans   . However we know that things can change and people can get into financial difficulty, your first port of call should be to contact your loan provider as soon as you know you won’t be able to afford the repayment, they will go out of their way to help you sort something out. If an agreement cannot be reached then your guarantor will be contacted, this is due to in the case of a default, it is the guarantors responsibility to make the payment, until a time when you are able to make payments again.