Amigo

[Ian71]

Today I received an email from AMigo

Dear *****,

We have recently been made aware that ***** has been accepted for an IVA.

This means that as guarantor you're now responsible for making the monthly repayments of £158.10 to clear the balance, which is £3,024.80 at today’s date. We are now legally unable to collect from ******.

The repayments are currently due on 16th, of every month, with the next payment due on 16/09/2022, that is today.

We can see you currently do not have a working direct debit or card on the account. Please can I ask that you give us a call and we will be happy to set one up for you.

Please be aware that as ***** is no longer in a position to uphold their original agreement, a copy of the Default Notice will be issued to you shortly.


Here is my response to them


Hi


As I have previously told you. I'm subject to an IVA as well. Due to this, I will not be making any payments to you. Please contact Creditfix for more details.

[Still Waving]

Hi

I do not know the legalities surrounding this situation, but Roger has raised several pertinent points in his earlier posts which you need to get sorted out. I think you need to be a bit more proactive here, rather than just saying "contact Creditfix".

Queries in my mind: The legal status of the guarantor agreement in the current circumstances.
According to Stepchange - "An individual voluntary arrangement (IVA) is a legally binding agreement between you and your creditors that helps you pay off your debts at an affordable rate. You make payments managed by an insolvency practitioner."

So, a legally binding agreement - Does this supercede any previous legal agreements, including a guarantor agreement in your brother's situation?

I think you need a bit of legal advice from JCS.

[Still Waving]

Another point - if they are entitled to demand payment from you despite your brother's IVA (ie two bites at the cherry), they should be getting something from his IVA, so would only be entitled to the balance of any monthly repayments.

Additionally, since you are on an IVA too, they should realise that they are not going to achieve much by taking you to court.

[Ian71]

At the creditor's meeting for my brother. Amigo voted against the IVA. I've contacted creditfix asking about the gurantor position being superseded by my brother's IVA. I also asked will Amigo be added to my IVA too. What is JCS?

[Still Waving]

At the creditor's meeting for my brother. Amigo voted against the IVA. I've contacted creditfix asking about the gurantor position being superseded by my brother's IVA. I also asked will Amigo be added to my IVA too. What is JCS?

Joanna Connolly Solicitors. A link can be provided by someone here. Initial advice is free. You need to know Amigo's - and YOURS - legal position now.

[Roger]

Joanna Connolly Solicitors. A link can be provided by someone here. Initial advice is free. You need to know Amigo's - and YOURS - legal position now.

Completely agree with Still Waving l

Colin G Quinn

His email and phone is a follows
"..
Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at colin@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. Our initial advice is always free.
.."

[Ian71]

Today I received an email from Amigo stating that they won't be demanding payment from me and that they won't contact me anymore on the matter. Here it is


I am writing to inform you that we have received confirmation that you entered into an IVA. We will no longer contact you about the loan or ask you to make payments. However, should your IVA fail, we will contact you regarding this as we will need to assess your situation before reinstating payments.

If you have any questions or queries, please do not hesitate in contacting us, either through your insolvency practitioner or directly.

[Roger]

Keep that letter very safe!
Notice its conditional on the IVA not failing.