| T O P I C R E V I E W |
| Nicola.07 |
Posted - 31 January 2013 : 19:40:09
if i have a loan that has a garantor and i put this on my bankruptcy form would the loan get wiped or would my garantor have to pay the loan back? |
| 5 L A T E S T R E P L I E S (Newest First) |
| Viki.W |
Posted - 01 February 2013 : 07:04:51
Hi Nicola,
Yes, the guarantor will be liable for the full amount of the loan.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
| Niobe |
Posted - 31 January 2013 : 21:46:16
I wouldn't be happy if I was a guarantor and the person defaulted on the debt. |
| Niobe |
Posted - 31 January 2013 : 21:35:24
A guarantor would be responsible for the whole loan if you defaulted on it. |
| panason1c |
Posted - 31 January 2013 : 20:09:37
Surely that is the point of the guarantor, to be responsible for, and pay the loan in the event that you can't?
Be interesting to hear from the experts on this one. |
| Niobe |
Posted - 31 January 2013 : 20:07:29
Hi and welcome to the forum.
The loan may well be included in BR as far as you are concerned but I am sure that the guarantor will be liable for the whole amount.
Hopefully Viki will be along to help. |
