• How Much Liable is the Guarantor

Dear Sir,

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 .

Reagrds
K.T.Thesigan