How Much Liable is the Guarantor
I had signed as a Guarantor for my Ex-Colleague. Who is no more.
We both of us worked in a Pvt Company. We were asked to leave by the MGT as it was taken over by the new MGT .
Iam still Job Less, Looking for an opening till date from sept-2013.
I had already signed as a Gurantor for the same person, who had closed the loan account and gone for a Fresh One for Rs.4.0Lacs. I had signed as a Guarantor.
In the same bank I had taken a loan of Rs.1.0 Lac. ( Still I have to Pay Rs.33,000.00 ) to the same bank.
I dont have a job, property on my name nor my family.
Kindly advice .
Asked 4 years ago in Criminal Law from Kanchipuram, Tamil Nadu