Legal Question in Credit and Debt Law in India
I have signed as a guarantor for a friend of mine to a chit fund company. Now that i want to come come out this what are the option?, i have heard that another guarantor can replace me ?
Asked on 11/02/09, 11:41 pm
3 Answers from Attorneys
Seshadri Srinivasan
www.lawconcern.com
if your friend had not committed default, you can approach the chit fund company with your replacement as well as your friend for a substitution.
Answered on 11/02/09, 11:44 pm
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
yes, another gurantor can replace you and incase you feel that your friend can become a defaulter, you may have to approach the civil court for appropriate orders.
Answered on 11/03/09, 3:06 am
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