can my dad be a guarantor for me letting a property if he has a iva but is still employed? he was a guarantor for me before he got a iva and i need him to be one again.
I don't think there is anything legally stopping your dad being a guarantor however the letting agency may well do a credit check on him.
Although you will hopefully be able to pay your rent what would happen if you fell behind? I can't imagine that someone in an IVA would have any excess to pay the rent, which would mean that your dad may be forced to fail the IVA and declare BR.
I'm not sure if your dad can be a guarantor if he has an IVA. I would be worth posting on the sister site, www.iva.co.uk, and one of the professional experts will be able to help.
I have just seen this post and am of the view that whilst there is no legal reason as to why your dad cannot be a guarantor, there is the practicality of "what if"
By that I mean what if you defaulted on the rental payment and your dad was approached by the landlord. I am not saying for one minute that you will default, but looking at the consequences if you did...
This would put your dad in a difficult position and may lead to him being forced into bankruptcy due to a failed IVA
As Skippy has suggested, post a thread on the IVA site - you may get more responses thetre
Good luck, Richard
quote:Originally posted by carly_harber
can my dad be a guarantor for me letting a property if he has a iva but is still employed? he was a guarantor for me before he got a iva and i need him to be one again.
can my dad be a guarantor for me?
Posted - 09 March 2010 : 13:36:00
