2007-02-12 08:06:21 · 7 answers · asked by Clare M 1 in Business & Finance ➔ Credit
There is no way out. Except, - Go bankrupt. Enter an IVA (a volountary arrangement with creditors). Pay off the loan. Persuade the borrower to take out a replacement loan to repay the original one using an alternate guarantor, if needed.
2007-02-12 12:14:57 · answer #1 · answered by Davy Crockett 3 · 0⤊ 0⤋
Pay it off in full
2007-02-14 03:25:08 · answer #2 · answered by BARROWMAN 6 · 1⤊ 0⤋
you dont. you either pay it off or nothing. well technically you could go bankrupt, but then they would have first dibs on the assett in question and your house would cover the rest.
2007-02-12 21:24:41 · answer #3 · answered by alatoruk 5 · 0⤊ 0⤋
You can't. Unless you die and then it comes out of your estate. I was in this fix once and you can't claim tax on the repayments which rubs it in worse
2007-02-13 05:09:45 · answer #4 · answered by Professor 7 · 0⤊ 0⤋
That would be a pisss poor guarantee if you could, wouldn't it?
2007-02-12 08:16:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Try paying it off..in full.
2007-02-12 08:15:01 · answer #6 · answered by knowitall 4 · 1⤊ 0⤋
You pay it off, in full.
2007-02-12 08:48:44 · answer #7 · answered by Lisa A 7 · 0⤊ 0⤋