Would I now be responsible for Amigo loan payments

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1


User avatar
Posts: 1
Joined: Wed Aug 15, 2018 7:05 am

Post by shelley911 » Wed Aug 15, 2018 7:05 am
I am a guarantor for a Amigo loan of £5000. I am currently in a IVA of debts of 21k. The person who I guaranteed the Amigo loan for is struggling to make payments. The Amigo loan was not included in my IVA would I now be responsible to make the Amigo loan payments?

Would it be possible to include the Amigo loan in my current IVA at this stage?


User avatar
Forum Expert
Posts: 28340
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Aug 15, 2018 7:49 am
The loan should have been included as a contingency payment, then, if the original debtor defaults, it would have been included in your IVA. Did you tell your IP about being a guarantor when your IVA started ?
If you become responsible now there is an outside chance it could be included, but it could also derail your IVA for a number of reasons.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”