Hi there... I had my car repossessed back in April 2017... I have been making monthly payments on this finance every month to avoid legal action . As my father is my guarantor for that car I did not want this affecting him. I have just decided to enter into an iva as I am struggling every month. I will be making payments to the finance company for my repossessed car every month included in my iva. I was wondering whether my guarantor will be chased for the money now that they are receiving a lower monthly instalment via my iva. Many thanks
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.
Yes he will become responsible for the whole debt and will have to continue making payments.
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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