i have Dti loan 40k and into my 3rd year and bank hold directors guarantee, what amount would i be liable for, i am having difficulty in paying the loan
I am assuming that this is a SFLGS loan Jay? It really does depend upon the terms of the loan, but they are not supposed to be able to pursue you directly, which was the whole purpose of why those schemes were set up in the first place. I would give the bank a call to see where they feel your exposure lies. Do you have other debts as well as this, and is your limited company still trading?
I'm sorry that I don't know the answer. A professional may be on here tomorrow who may be able to help.
I would advise looking @ www.iva.com and seeking free and impartial advice from 2 or 3 professionals. I'm sure there will be a solution, just not from me!!!
I have 20k left on a dti loan but even a year after the business closed I am getting hounded by the bank for the money. My understanding was they were to go to the dti if I struggled to pay. They even created an unauthorised OD for me to get money somehow.
Can anyone confirm whether the dti loan can be included in an IVA??
