i had an iva and at the time i signed as a guarantor for my son they are now saying he owes them money was i aloud to be a guarantor and where do i stand legally
Did you have your IVA before your became a guarantor? If it was afterwards I'm surprised you were accepted as a guarantor. If it was the former, was it disclosed to your IP?
If your son owes money I'm afraid the creditor can, and most probably will, come after you for the money.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If you were in the IVA at the time you should not have signed as guarantor -- and, as Kallis says, I am surprised you were accepted.
How much is the loan for ? Legally, yes, you are responsible for this loan if your son has defaulted. By your use of past tense, I assume that the IVA is finished now, so at least that can't be derailed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Fri Aug 28, 2020 3:50 pmkallis3 wrote:
Did you have your IVA before your became a guarantor? If it was afterwards I'm surprised you were accepted as a guarantor. If it was the former, was it disclosed to your IP?
If your son owes money I'm afraid the creditor can, and most probably will, come after you for the money.
it was a guarantor for rent i was in IVA at the time, but i did not know that i was not aloud to be a guarantor at the time. If they had done a credit check would they have accepted me as a guarantor? At present they are threatening court action.
Unfortunately the complaints prcedure outlines on the link given above doesn't apply to property rentals. However, I would suggest mentioning to them that, if they do take you to court, you will state that you were in an IVA at the time, didn't realise that you could not actually be a guarantor and, if they had carried out due diligance, they should have realised this themselves and not accepted you. It is a bit of a bluff, but, if I were judging such a case I would lay the blame firmly on the letting agency for not doing their job properly.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Fri Aug 28, 2020 5:50 pmFoggy wrote:
Unfortunately the complaints prcedure outlines on the link given above doesn't apply to property rentals. However, I would suggest mentioning to them that, if they do take you to court, you will state that you were in an IVA at the time, didn't realise that you could not actually be a guarantor and, if they had carried out due diligance, they should have realised this themselves and not accepted you. It is a bit of a bluff, but, if I were judging such a case I would lay the blame firmly on the letting agency for not doing their job properly.
