Amigo rejected my IVA

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danielle625
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by danielle625 » Thu Jun 21, 2018 11:57 am
My Iva was turned down by amigo, I don’t know what to do my guarantor can’t afford it his hours have been cut, and we are in the process of losing our home
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MerlinL14
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by MerlinL14 » Thu Jun 21, 2018 12:09 pm
Even if Amigo had accepted the IVA your guarantor would still be liable for the payments you missed. We can only offer sympathy and support sorry. It doesn't help you or your guarantor but your situation isn't going to get any better soon so you need to come up with a plan B. Was Amigo the deciding voter with 75% of the debt in your proposal? If this is the case then an IVA just isn't the path you need to keep treading, you may seriously need to think about bankruptcy if like you say you are going to lose your house anyway. I hope it all works out for you but there are paths you can take, some not as palatable as others.
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Foggy
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by Foggy » Thu Jun 21, 2018 12:14 pm
I am sorry, but I can only echo Merlin's advice. Your guarantor should also seek advice as Amigo will look to him or her for repayment in the event that you default.
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luluj
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by luluj » Fri Jun 22, 2018 5:05 am
Really sorry to hear your iva was rejected - as Merlin and Foggy have said consideration to other options needs to be given now - is bankruptcy not the best option now ?
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kallis3
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by kallis3 » Tue Jun 26, 2018 4:19 pm
I agree .
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