If other people have become involved in your debts and loans, your decisions about how to proceed may be influenced by the impact on them if you cannot or do not pay. People involved in your loans could be either a guarantor or a joint borrower. A person who has guaranteed your loan (the guarantor) is someone who has promised your creditor to pay your debt if you do not pay. The creditor can pursue your guarantor for the debt, including any costs of attempting to recover the money from you or from that guarantor. If your guarantor has given a mortgage over assets, the creditor can also seize those assets if the debt is not paid.

A joint borrower is someone who signed the contract with you, as you are both borrowing the money and therefore both agreeing to be fully responsible for paying the total amount lent. Joint borrowers are equally responsible for the entire loan, meaning that a creditor can choose to pursue either or both to enforce the debt. Because both borrowers are responsible, it is irrelevant if one party feels that they have 'paid their share'. If you have problem debts and loans where other people are involved, you should get advice quickly about the impact on them.