Guest (n/a) 09 December 2008
I have signed as secondary for my husbands bank loan.Will I be able to change it now?
I was forced to sign the bank loan papers of my husband as a secondary assurerer. Due to a family dispute, i am no longer living with him. Though he has not defaulted till now, I am scared that he might default sometime in the future.I dont want to be anyway connected to his bank loan. How can I change the bank loan records? Will it be possible for somebody else to take my place if they are willing?
Ajay kumar singh (Advocate) 09 December 2008
So far I understand, someone can replace you if he/she is willing to do so.
Murali Krishna (Govt..Employee) 09 December 2008
You can withdraw from your surityship, only if the bank agrees for it. If you find some other person who is willing and capable of convincing about his solvency, the bank may agree for such withdrawal.
K.C.Suresh (Advocate) 10 December 2008
You can approach the bank eith your intention to withdraw. Your husband will replace ypou. Give the withdrawal letter forthwith.
Uma parameswaran (lawyer) 11 December 2008
you can replaced by some one but it should be before he made any default or any legal steps taken by the Bank
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