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Author Topic: Guurantor cheque bounce  (Read 600 times)

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Offline sannamath

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Guurantor cheque bounce
« on: January 18, 2017, 09:39:39 PM »
Y sister has taken loan  of rupees 2 Lacs from  a non banking finance institute two yrs ago

while taking the loan she has made our father sign as guarantor and also taken a blank signed cheque for guarantor.

Our father is 78 yrs old and not much are of documentations related to bank, She has false told our father that she is taking sig just to open and bank account and they need sign just for introduction.

she has not paid the loan amount and now the outstanding is come up to 4 lacs,
The bank has now put the guarantor cheque which eventually bounced.

I want to know in now how I can protect my father in case of legal cheque bounce case.

also I fail to understand how the finance company can accept guarantor of a 78 yrs old person with no repayment capability.

Now my sister is ready to give statement that she has lied to our father while taking sign on loan document and taking cheque for guarantee.

IS there any grounds on which I can defend this case.

Offline Advaradhyakirmani

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Re: Guurantor cheque bounce
« Reply #1 on: January 19, 2017, 08:55:03 PM »
stop speculating, from your query you nor your sister is willing to repay the loan. and looking for a legal battle.

in that case let the financial company first send you a legal notice.

Once you get that we will be in a better position to let you know what should be done.

by the way pay the loan is the best option.
Adv.Aradhya Kirmani
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