i signed as gurantor for jcb bachoe loader

theertha kumar (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

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Sailesh Kumar Shah (Expert) 08 December 2014
In general agricultural land can't sold in default of payment.

Guest (Expert) 08 December 2014
Repeated query.

Devajyoti Barman (Expert) 08 December 2014
if repeated then no reply.

Rajendra K Goyal (Expert) 09 December 2014
Repeated query:

http://www.lawyersclubindia.com/experts/i-signed-as-gurantor-for-jcb-bachoe-loader-511806.asp#.VIZyTjGUen0

theertha kumar (Querist) 09 December 2014
Will they go for his property like home etc I have losses in my business I have just a bike in my name I have no property nothing so what they will do next
I am asking him but he is not even listening to me are they bank will lodge a case against him before asking me kindly reply me

Sailesh Kumar Shah (Expert) 10 December 2014
try to sort out amicably.

Guest (Expert) 10 December 2014
Well advised

i signed as gurantor for jcb bachoe loader

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