i signed as gurantor for jcb bachoe loader
Querist :
Anonymous
(Querist) 08 December 2014
This query is : Resolved
Dear sir I signed as a guarantor for the JCB purchase by my friend relative and he defaulted the emi and machine has been seized and sold to another person by Hdfc bank but they are asking remaining balance
But they never send a notice to me about JCB seized and sold
So what can I do now the loan pending amount is 7lacks it happen a year ago will they go for his agricultural land or my property
thanks regards theertha kumar.m
Guest
(Expert) 08 December 2014
If you are a guarantor, there is no escape for you and even your heirs. So, why wait for a notice. If you have received phone calls or if the officers of the bank have visited you to inform about the default, being a guarantor in the case, persuage your friend and his relative to pay the dues. Otherwise, you can be made liable to pay the balance.
Advocate M.Bhadra
(Expert) 08 December 2014
Try to social pressure on your friend by other friend and guardian. The banking institution may require a guarantor as additional security to support purchaser application. In the event that the purchaser defaults on payments, the guarantor is responsible for the unpaid portion of the hire purchaser facility including interest.
Sailesh Kumar Shah
(Expert) 08 December 2014
i have already replied at :-http://www.lawyersclubindia.com/experts/i-signed-as-gurantor-for-jcb-bachoe-loader-511811.asp#.VIWfcTGUfy0
Rajendra K Goyal
(Expert) 09 December 2014
The guarantor is liable to pay in case of default by the principal. Agree with the experts.
Querist :
Anonymous
(Querist) 09 December 2014
If they attach my friend property home or agricultural land I have no property nothing but a bike in my name I am also losses from business pls reply what they will do next
Sailesh Kumar Shah
(Expert) 10 December 2014
already replied at:-
http://www.lawyersclubindia.com/experts/i-signed-as-gurantor-for-jcb-bachoe-loader-511811.asp#.VIetWDGUfy0
Guest
(Expert) 10 December 2014
Well advised
Anirudh
(Expert) 10 December 2014
WHAT A SOMERSAULT BY THIS FELLOW.
EARLIER HE USED TO REFUSE ANSWER FOR ANONYMOUS QUERY.
NOW HE IS ATTENDING TO SUCH ANONYMOUS QUERIES IN THE GUISE OF ENDORSING THE ADVISE OF OTHERS!!
HE DOES NOT HAVE A STAND OF HIS OWN.
This fellow cannot even be a last person one can consult for any advice.
This fellow is good for nothing. Many a times he gives advices which are not supported by law.
TAKE THIS FELLOWS FALSITY IN HIS PROFILE. THIS FELLOW ATTACHES MORE IMPORTANCE TO THE PROFILE, WHILE HE IS FILLING UP TOTAL FALSE HOOD IN HIS PROFILE.
please visit the following link:
http://www.lawyersclubindia.com/lawyers_search/N-J-S-Rajkumar-alias-narasimha-254519.asp#.VIcRwmeHPFx
where he claims that he is practising from 2001, while as already indicated by me, he was enrolled only in the year 2012!!! CAN ANYBODY PRACTICE BEFORE ENROLMENT? IF ONE DOES SUCH A PRACTICE IS HE NOT FIT TO BE CALLED A "FRAUD"?
N.J.S.Rajkumar alias narasimha's Details
Listed Under
Business Law
Civil Law
Criminal Law
Practicing Since
2001
Specialization
SEBI and SEBI RELATED CASES
Court
Others
Address
54,PARASURAMA EASWARAN KOIL WEST MADA STREET,AYANAVARAM,CHENNAI 600023
Other Details
rajkumar_wins@rediffmail.com 9444036927
Therefore, before taking advice, the querist should be too careful
