Debacle as a guarantor!!!!
By simsunil
@simsunil (98)
India
June 10, 2008 6:28am CST
I have done a big mistake in my life recently. Idon't know how to cope up with this.My as u say good friend wanted a loan from bank and i signed on guarantor form for her which indicated that being a guarantor , u r agreeing to pay if the actual borower does not. since my friend was in need i did the needful ,now her businees is not doing well and she can't repay the amount i don't know what to do b'coz bank will come to me . please suggest me what should i do in this trivialsituation.
1 response
@nupats (3564)
• India
10 Jun 08
this is really serious if ur friend does not pay the since u were the garuntor the bank can hold u liable..so dear beware talk to ur friend explain to her how serious it is and how u can get stuck..i m sure she can manage some money to pay....if she doesnt thn u will need leagal help of a lawyer..good luck..take care..
