Guarantor

[Max5171]

Stupidly last year my son persuaded me to be his guarantor for his uni accommodation, giving me his word he’d he paying his rent on time. Now I’ve found out he hasn’t and now of course landlord is chasing me. Since I signed I have entered an IVA, I do not own my own home and my car is on HP. Don’t even get me goi g on what I’ve told my son. I’m on my own and struggling already with bills. If / when it goes to court would we be able to set up a repayment plan?

Would appreciate any help. I’ve told him to go to student support but the landlord wants £300 in 3 days time which is impossible. I’m worried sick.

I would try to agree a repayment plan with the landlord before it gets to court. But, if an agreement is not possible, the courts may well agree that you can pay it off in instalments.

Does your son have a student bank account? There are a few with very generous good free overdraft options that he could access if he hasn't already.

I’m in the same boat OP. My ds didn’t realise that in his final year he’d get less money. He’s set up a repayment plan with agreement from the landlord.