Amigo loans in an IVA

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mike
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by mike » Thu Mar 08, 2018 2:33 pm
I have an emigo loan which I’m struggling to pay , my guarantor can’t afford to pay it now , because something has happened to there finances , can we both do an IVA regarding emigo loans ?
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kallis3
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by kallis3 » Thu Mar 08, 2018 2:44 pm
Do you both have other debts?
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mike
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by mike » Thu Mar 08, 2018 2:58 pm
Yes we both do , quite a few , is it something we can both do at the same time ?
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kallis3
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by kallis3 » Thu Mar 08, 2018 3:37 pm
You would have to do separate IVA's as your guarantor is obviously liable for your loan.

I advise speaking to several companies for advice.
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Foggy
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by Foggy » Thu Mar 08, 2018 5:27 pm
You can both look at an IVA, or other debt solution. As you know, when you go into an IVA Amigo will go after your guarantor and the loan can then be included in that IVA. Be aware though that Amigo are not very IVA tolerant, so, if they have the voting power to turn it down, they probably will.
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