Liability of a guarantor

dear querist,

first of all ,gaurantor is wholly liable to pay the loan if the primary loan holder is not paying the loan .

but there are certain conditions too -

1.bank can not give a loan to any person only on the base of  a gaurantor,bank have to mortgage some of his property for it,and there are two gaurantors needed for it.

2.once a person is found guilty of not paying the loan ,same bank and even any other bank if came to know about his solvency) can not give loan to such person.

3.before bank will start recovering his loan from your mother bank have to attach the property in his name and if any amount still left your mother is laible to pay that .

is there any notice received by your mother from the bank regarding this? there are few more facts i want to know to advice you beter,feel free to call on profile number.

1. A guarantor's liability is co-extensive to that of the principal debtor. Hence your mother's liability is equal to that of her brother. and the bank may very well proceed against her - even without exploiting all it's remedies against your mother's brother. 

2. There are certain defences that a surety can take to avoid liability in certain cases, kindly share your guarantee papers with a lawyer for him to find a way out if any.

3. Your mother is clearly not liable for the loan for which she did not stood guarantee. 

dear querist,

                                 as the above 2 respected advocates guide you that your mother is responsible for the loan in which she stood herself as guranter and not for she didnot stood herself as guranter but it is for your information that the gpf and theppf can not be attached  .