No longer afford to pay quarantor loan, quarantor has included it in IVA. I am being chased for it.

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Markdm15

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Post by Markdm15 » Thu Nov 13, 2014 11:15 am
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I have a guarantor loan, I can no longer afford to pay it, my guarantor as gone into to an IVA, and included it. The problem is the loan company are chasing me for the loan. I have explained to them what's happened but say I'm still liable to pay it. If true then they would end up with more money.
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Michael Peoples

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Post by Michael Peoples » Thu Nov 13, 2014 12:50 pm
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You are liable to repay the debt but you are also entitled to claim in the IVA as you will have to repay this debt. You should have received a copy of the IVA and been informed of this.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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