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Bankruptcy or trust deed imminent

richiescotland
Posts: 16 Forumite
bankruptcy if cant ge new business taking over from old company and if i do will go for a personal trust deed . Anyway if I am on a trust deed but have 2 personal guarantees from the previous company , one to the bank and one to landlord are these taken into account in trust deed? Does the cosigner become liable for all if I am on a trust deed ?
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Comments
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bump! bump!BSC #215/No.1 Jan 09 Club0
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Hiya richie
I'm afraid that if the debts are 'jointly and severally liable' then the creditor could ask your co-signer to pay it all.
If you're taking advice on your situation (and I would strongly recommend that you do), then you could probably cover this point with your adviser.
I'm sorry I can't be more positive0
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