Would I now be responsible for Amigo loan payments

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shelley911
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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?
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Foggy
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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.
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