Can loans with guarantor be included in IVA?

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mandy111
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by mandy111 » Mon Oct 09, 2017 1:20 pm
Hello. Does anybody know whether loans that have been taken out with a guarantor be included in an IVA? Thank yiu
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Foggy
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by Foggy » Mon Oct 09, 2017 1:26 pm
mandy111 wrote:
Hello. Does anybody know whether loans that have been taken out with a guarantor be included in an IVA? Thank yiu


As long as it is a personal loan ( not HP or secured on the vehicle) they can be included. However, the lender will then pursue the guarantor, who will have to pay the loan for you --- they can then become a creditor in their own right.
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Michael Peoples
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by Michael Peoples » Tue Oct 10, 2017 8:12 am
Some guarantor loan companies have different criteria to the usual banks and often reject if these criteria are not met. This rarely matters whether the loan is guaranteed by you or for you by someone else.
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