639+ Lawyers are online 
i m guaranter of a dead relative case is in arbitration Chennai
06-Aug-2023 (In Banking / Finance Law)
.my relative taken lone from private fin. Institution my property paper submitted as mortgage n I m guaraner but he is no more .fin . institution harrasing me to pay the loan .he is having so many properties.legal hire not supporting me .what we can do.case is in arbitration chennai
The difficulty is guarantor is liable person like the borrower to the loan amount. If the borrower died then the guarantor is liable to pay the loan amount. If the borrower also failed to pay the loan amount then the financial institution can file recovery proceedings against guarantor. The guarantor can file recovery proceedings against the borrower's legal heirs. I am also practicing at Chennai, if u need further clarification, feel free to contact me.
Helpful?
19+
19+
Adv. Selvaperumal
Chennai | 100+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Banking / Finance lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
