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LEGAL MATTER
A PERSON IS ONE OF GURANTER TO HIS FRIEND WHO HAS TAKEN LOAN FROM BANK. THAT FRIEND IS HAVING ENOUGH PROPERTY WHICH HE CAN SELL AND PAY OFF THE LOAN. BUT THAT FRIEND IS DENYING TO DO SO. HE IS GOING TO SELL HIS PROPERTY AND DECIDED TO MAKE PARTIAL PAYMENT OF LOAN TO THE BANK. IN THIS CASE IS THE GURANTEER WILL SUFFER? FURTHER THE ANOTHER GURNATER IS THAT FRIEND'S COUSIN BROTHER. BUT BANK IS NOT SENDING ANY NOTICE ABOUT IT TO THAT COUSIN BROTHER WHO IS ALSO GURANTER.
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Want to answer more questions in the Relationships category?
Maybe give some free advice about: Families?
I don't know much about loans or property tax but next time you ask a qustion make sure it isn't in caps and REREAD it so it makes sense. Talk to a loan broker (sorry, I'm not sure if thats the correct name) for advice.
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The only time the cosigners will get in trouble is when the person who did the loan doesn't make his payment to the bank. If he paid his loan partially, I'm sure there was an agreement between him and the bank that he pays a certain amount monthly or something....as long as he is sending in his payment on time as agreed then the cosigners to this loan has nothing to worry about....but if he is late on his payments or doesn't pay at all then the bank will go after the cosigners....hopefully your friend is a responsible person and won't allow this to happen.
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