Bankruptcy & Guaranteed Loans

What happens if I become bankrupt and my loan has been guaranteed?

What happens if I become bankrupt and my loan has been guaranteed?

When you become bankrupt the monies owing on the loan will be caught by your bankruptcy and you will not be required to repay those monies. However, if a third party has guaranteed your loan that person will remain liable to repay your loan in accordance with the guarantee.

If you would like to have a chat about this please call me on 1300 794 492 or email hello@understandingbankruptcy.com.au.

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