Can a guarantor go into DRO/Bankruptcy?

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paul156
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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?
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Foggy
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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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Lisa Thomas
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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.
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