The liability of a guarantor is co-extensive with that of the borrower, so if you stood as a guarantor then the chit fund company can successfully sue you for recovery of money. If your signatures were forged to make you a guarantor then this is a fact that you will have to prove. Send your reply through your lawyer now.
Chit guarantor of the divorced husband
Mine is a arranged marriage. From the day one, he not at all went to job.He said that he is interested in running a business.So he often get my jewels, pledge it and with that money spend lavishly and pretend that he has having some source of money. I am working in a government organisation, so they gave me quarters.He used to stay only one week in a month and left me saying that he is having outside works.As a typical Indian girl, I never cross questioned him and believing for his better future.As years went up, he never returned any of my jewels and started to steal money and jewels without my knowledge. He even rob at my mother's home and my 2 year old son's bangle.I found tough to live with him and I got promoted to my home town.I was separated and living alone from 2014.Now , I received a letter from Margadharshi chit funds , stating that I am the 5 the guarontor of him and due to his default of payments, they are approaching me to pay 4 lakhs.My divorce case is running in court.How can I get relieve from this chit case.My earnings is only hand to mouth and I am having a kid.He never ever supported to run my family.Chit company is trying for my salary attachments. How can I and my 5 year son can survive without enough salary.Plz help me to release from this problem.
Asked 7 years ago in Family Law
Religion: Hindu
First answer received in 30 minutes.
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4 Answers
1. Have you signed any agreement for standing as a guarantor against your husband's loan availed from the said chit fund?
2. If yes, then you being the guarantor, have stepped in to the shoes of the borrower and is liable to repay the debt of the borrower with interest up tp date.
3. If you have not entered in to any such agreement, then inform the said chit fund that you are in no way linked with the said loan of your husband as guarantor.
1) did you sign any guarantee papers ?
2) if so as guarantor you would be liable for your husband debts
3)part of your salary can be attached fir recovery of dues
4) if you are not guarantor contest the proceedings
Have you signed as guarantor to his loans?
If so, you have no option than to pay his loans or else the chit fund company may file a petition to attach your salary towards the repayment of their dues.
You cannot even file an injunction suit since you have already signed the papers for guarantor.
If you have not signed the papers or if you deny the signature in the guarantor form then you may contest the decree passing judgement agaisnt you for recovery.
