Hi, my partner is on an iva. She is my guarentor for an amigo loan iv had for sone time. Iv recently lost my job and unable to pay repayments. Iv missed two payments now. What will happen? Can i start an iva as the loan is 10k or if i default can it be included in her iva already in place. Many thanks
Was the fact that she was a guarantor for your loan disclosed to her IP when her IVA started ? If so and it was included as a contingency loan her IP should be able to deal with it, if not it might derail her IVA. She needs to speak with her IP about it.
If you do into an IVA the loan will become payable by her, unless dealt with by her IVA, as mentioned above.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
