Dear Sir & Friends..
i had taken old 2 trucks from the Sri Ram finance for mining products transportation... cause of restrictions of mining export in karnataka all work has bean stopped we did not paid the some installment and finance peoples had taken the truck.. and now after 1 year we are getting the notice for balance amount of nearly 7 to 8 lack.. now i am in the position u don’t have money to attend the arbitrate in Chennai who sent the notice and i am not in position the pay the 1000 Rupee also
and one of the guarantor who help me for taking the trucks and he signed as a guarantor now finance people forcing him to pay the amount which trucks we had taken by his guaranty...
now this guarantor also forcing me to pay the amount and my guarantor forcing me for closing that issue..
kindly tell me is any rules that finance can take money from the guarantor
and what i can do for this issue .. i am in total loss course of the truck business
i was invested 5 lack for difference amount of the loan at the time of taking the truck apart that finance people forcing me to pay some what 7 to 8 lack please tell me what i can do ...
