Guarantor question

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susan887

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Post by susan887 » Fri Aug 28, 2020 3:18 pm
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

kallis3

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Post by kallis3 » Fri Aug 28, 2020 3:50 pm
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.
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Foggy

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Post by Foggy » Fri Aug 28, 2020 4:01 pm
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.
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magicsam

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Post by magicsam » Fri Aug 28, 2020 4:41 pm
You may find the information here useful
https://debtcamel.co.uk/amigo-complaints-by-guarantor/

Foggy

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Post by Foggy » Fri Aug 28, 2020 4:52 pm
Fri Aug 28, 2020 4:41 pmmagicsam wrote:
You may find the information here useful
https://debtcamel.co.uk/amigo-complaints-by-guarantor/
Thank you, Sam -- an excellent find.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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susan887

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Post by susan887 » Fri Aug 28, 2020 5:31 pm
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.

Foggy

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Post by Foggy » Fri Aug 28, 2020 5:50 pm
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
http://foggy.blogs.iva.co.uk

susan887

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Post by susan887 » Fri Aug 28, 2020 5:59 pm
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.
thank you for the advice i will try that
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