Need help

shreegan123

Hello all,
I am from Maharashtra, India.
I am guarantor to one of my friend for land buying & develop loan. He had taken loan & now he is not repaying it from long time. Bank want us to repay his loan from my salary. Can anybody tell me how to get out from this situation.

Please guide me..It's urgent...
Thanks in advance...

Browntoa

afraid we are only able to advise on United Kingdom Loans

you need a forum with experts in India Loans

but assuming the same as UK , you as gaurantor have to pay

Caz3121

Assuming same as UK. Often a guarantor is required when the lender believes that the borrower will not repay their debt. The documents you signed will identify what your responsibility is but basically if they don't, you need to and you would need to deal with your "friend" separately (in the UK this would be through the small claims court)