Can someone on the IVA stand as a guarantor?

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Susan.h

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Post by Susan.h » Fri Jul 15, 2016 7:42 pm
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Can someone on the IVA stand as a guarantor?

Is it worth anything??
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Foggy

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Post by Foggy » Fri Jul 15, 2016 9:26 pm
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No you cannot stand as guarantor. You will fail the credit check and your IP will not allow it.

As guarantor you are pledging to repay the loan if the borrower defaults, so this is tantamount to you having the credit liability.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Shining

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Post by Shining » Fri Jul 15, 2016 9:51 pm
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Hi and welcome to the forum. Unfortunately, this is not possible, hope the person who needs a guarantor can find someone else to stand for them.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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kallis3

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Post by kallis3 » Fri Jul 15, 2016 10:48 pm
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Hi,

Agree with Lesley and Foggy - you won't be able to stand as guarantor.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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