Creditor is pursuing co-guarantor

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Darren.hm

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Post by Darren.hm » Fri Nov 04, 2011 7:34 pm
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My creditor (Lombard Tricity) has accepted Proof of Debt folllowing my IVA Hearing in 2009. They have only recently lodged their claim to collect monies (due to commence 8.11.11).

In the meatime they are pursuing a co-guarantor to the original loan agreement.

Can they do this as it seems very unfair as they will be repaid in full from the IVA funds.
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MerlinL14

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Post by MerlinL14 » Fri Nov 04, 2011 7:46 pm
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They have every right to. A bit unfair maybe but the original loan/credit was founded on their ability to pursue a guarantor if you defaulted.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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kallis3

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Post by kallis3 » Fri Nov 04, 2011 7:51 pm
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Unfortunately this will happen - until the IVA is completed then you are both liable for the debt.

I assume that if there is an overpayment at all, the difference will be refunded.
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.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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