To cut a very long and emotionally stressful story short, and please bear with me while I explain all the essentials of this story, my fiancée's father made a loan a few years back. For this loan, he and the bank asked and approved for my fiancée , who at the time was 19 and unemployed, to sign as a guarantee on the loan in order to extend it a few more years. She was assured, again I emphasise the unemployed, that her father can pay off the loan and she does not need to worry about a thing and this was just a precautionary measure to help extend the payment due date for her father.
This happened before I met her. We then met and seven years later, we decided to start looking into buying a home (in the next couple of years of course) and possibly start a family of our own. But being logical people, we thought it would be a good idea to research into loans and what prerequisites are required in order to get one IF we can get one.
It wasn't until this past August that we found out the most shocking news of our lives. Apparently, there was a lawsuit against my fiancée back in 2015. Why? Because her father did not pay a single instalment of the loan, therefore the bank filed a claim which went to court, which neither of us was aware of because her father "forgot" to inform us. This meant that her father, my fiancée and the 3rd guarantee were now considered to be a single entity, and this meant that the loan owed can no longer be paid on a monthly basis but must be paid off in bulk by all 3. In other words, the original loan of 60000 euros ended up to be 132000 euros (with all the late fees and interest rates added) and they were knocking on our door for the payment so to speak.
This also meant that my fiancée and the 3rd guarantee are now black listed within the bank and cannot get any loans until this one is paid off. We have had several meetings with the bank to inform them that we were not kept in the loop and the bank should of informed us before the loan got out of control, but they wash their hands of all blame. We also informed them that for the loan to have been approved, the property that was mortgaged in order to get the loan must be worth more than the loan, in order to cover any losses in the event of the loan not being paid off, therefore we can give the property to the bank as collateral and the loan can be zeroed. This argument was met with the excuse of "originally, the property mortgaged was worth more than the loan when the loan was made, but it lost its value ever since the crisis and now its value is less than the amount of the loan". Well maybe they should of informed us that the value of the mortgage is less than the loan ion order to sort it out before it spiralled out of control.
Her father is also self employed and business is not doing well at all. I have loaned him small amounts of cash which he could not pay me back so this loan is completely impossible for him to pay now.
Now, for my fiancée this was a devastating blow, of course for me too but I can only imaging how she must feel having her father drop this bomb on her. She has worked either 2 or 3 jobs for the last 7 years, 29 years old, we have been living in the basement of my parents home for 7 years in order to try save up some money, we wake up at 5:30am everyday and drive an hour to work and an hour back home every day. And now that we want to build our lives, we cannot. And to top it off, she has to pay 132000 euros? How? If it was our fault I understand, if we were irresponsible and we are now reaping what we sowed fair enough, but from the second that it was not her loan and now it has literally fallen onto her, that's unfair.
After countless meetings with the bank and lawyers, we made them a couple of counter offers, and after a few months, they approved one of our offers. If we can pay at least 60000 euros in cash (the original value of the loan), they can expunge the loan and they will be willing to also give us back the property that was used as a mortgage. If this happens, the loan will disappear, my fiancée will no longer be blacklisted and she will then have the option of making a loan in the future, with the same property as a mortgage, which is the only property left in her family because (I forgot to mention) her father sold all the rest.
I am not willing to leave my fiancée, I love her and she is my world. So we are in this together, no loan for her means no loan for me. Her paying her fathers loan means I have to pay for it too. I have been trying to save every penny ever since I heard about this in the event that the bank gives us an offer, but I am nowhere close to the amount offered. This is sort of my last resort on trying to raise the money for her (of course she does not know I am doing this) and I pray that there are people out there that will hear my story and find it in the kindness of their heart to lend a helping hand. I am not one for taking easy/free money, I and my fiancée are hard working people, but this is one thing that is proving to be impossible and unfair.
This is our story. Whether we get the help we need or not, thank you for being patient enough to read it.