Can a guarantor go into DRO/Bankruptcy?

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paul156

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Post by paul156 » Mon Feb 19, 2018 8:30 am
If a guarantor goes into a debt relief order/ bankruptcy can the loan company touch them?

Foggy

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Post by Foggy » Mon Feb 19, 2018 8:49 am
I know in an IVA the potential debt can be taken into account, but am unsure if the same applies in DRO / BR. Hopefully someone more knowledgeable will come along and respond more usefully.
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IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post by Lisa Thomas » Mon Feb 19, 2018 9:56 am
No - their debts, including any contingent liability of a PG will be wiped just like any ordinary creditor so their only recourse will be back to the original debtor.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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