Many of those who once made the guarantor of the loan of relatives or friends, now forced to pay foreign debts. How can fend off this honorable mission, or at least maximize the deferral of payment. Using the advice, you can save your budget from unplanned costs of the loan money will tell. For fans of "extreme" it may be advisable to file a lawsuit on behalf of the relatives of the surety to be recognized as incompetent.
For fans of "extreme" it may be advisable to file a lawsuit on behalf of the relatives of the surety to be recognized as incompetent. In the case of a counter-claim from the bank all the disputes in court will occur with the participation of the board of trustees, which is unlikely to give consent to the alienation of property incapacitated.
Negatives: not everyone will want to voluntarily accept the status of the incapacitated (never know what it subsequently hinder!). Another minus: the bank may request a judicial review - to ensure that disability.
But even if the lender made a "dirty work" and sought a court with bail money, that always has a right to squeeze "blood" from the borrower, asking him to regress claim. However, even if the bank failed to "knock out" money from the debtor, the hope for a favorable outcome of the case, honestly, a little.
When the lender will require the guarantor to repay the loan?
- If the borrower is unwilling or unable to pay loan
- If the value of the collateral the borrower does not have enough to repay the loan;
- In case of death of the borrower and the absence of a life insurance policy.
The guarantor has the right to challenge the decision of the bank!
- If the bank filed within 6 months of late payments on the loan;
- If the sponsor is a spouse and the property on which the bank is trying to seize - a joint;
- If the guarantor does not certify personal contract of guarantee;
- If the guarantor is incompetent;
- If the guarantor up to 70% of their income sent to maintenance for children and disabled relatives;
- If the sponsor is unemployed and does not own real or personal property.
If the guarantor still have to pay?
- Then he will be entitled to require the debtor's refund paid contributions, interest, penalties, damages and court costs.
Source: Money
For fans of "extreme" it may be advisable to file a lawsuit on behalf of the relatives of the surety to be recognized as incompetent. In the case of a counter-claim from the bank all the disputes in court will occur with the participation of the board of trustees, which is unlikely to give consent to the alienation of property incapacitated.
Negatives: not everyone will want to voluntarily accept the status of the incapacitated (never know what it subsequently hinder!). Another minus: the bank may request a judicial review - to ensure that disability.
But even if the lender made a "dirty work" and sought a court with bail money, that always has a right to squeeze "blood" from the borrower, asking him to regress claim. However, even if the bank failed to "knock out" money from the debtor, the hope for a favorable outcome of the case, honestly, a little.
When the lender will require the guarantor to repay the loan?
- If the borrower is unwilling or unable to pay loan
- If the value of the collateral the borrower does not have enough to repay the loan;
- In case of death of the borrower and the absence of a life insurance policy.
The guarantor has the right to challenge the decision of the bank!
- If the bank filed within 6 months of late payments on the loan;
- If the sponsor is a spouse and the property on which the bank is trying to seize - a joint;
- If the guarantor does not certify personal contract of guarantee;
- If the guarantor is incompetent;
- If the guarantor up to 70% of their income sent to maintenance for children and disabled relatives;
- If the sponsor is unemployed and does not own real or personal property.
If the guarantor still have to pay?
- Then he will be entitled to require the debtor's refund paid contributions, interest, penalties, damages and court costs.
Source: Money
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