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I want to withdraw from being a guarantor.


11-Jan-2023 (In Criminal Law)
Sir,I want to withdraw from being a guarantor for my husband since he is physically mentally torturing me and my baby.He is on bail now. How can I proceed ahead?
Answers (6)

Answer #1
991 votes
In this regard, i advice you that you can write to the bank from where your husband has taken loan you are being taken as the gaurantor of the loan. Furthermore, if you want to withdraw your surety from the court on the basis of which he has been given bail then you can very well file an application seeking withdrawal of your surety in respect of the said bail in the same court from where he was enlarged on bail. For further clarification, please contact.
People also ask

How can I remove myself as a guarantor?

The borrower will typically submit a request for you to be removed as a guarantor to the lender and demonstrate their ability to make payments on the loan even without your guarantee. The loan will disappear once you pay it off. You can ask the person who lent you money to refinance it.

How do I withdraw my loan guarantee?

It is almost impossible to remove your name from the list of guarantors unless the borrower provides collateral or finds a replacement guarantor. You will also have to go through several approvals from the lender before you can be released from the contract.

Can you back out of being a guarantor?

You cant stop being a guarantee once you have signed the loan agreement. You wont be removed from the contract because your credit rating, employment status, and other factors all played a role in the approval of the loan.

How do I revoke a guarantor?

Get a new appraisal of the property. ... Pay off the loan amount guaranteed. ... Refinance. ... Sell. ... Repay the entire loan.

  
Answer #2
862 votes
Dear client,

I which case you have given guarantee. Yes mam you can withdraw your guarantee but you have to move an application regarding that. Dear client for more clarification u can contact me and I m happy to help u.

Answer #3
642 votes
mam,
you have to move application for discharge of surety in the court, thereafter the court after going through your application the court may grant leave to you and order your husband to arrange any other surety.
and you may at the same time or thereafter move to the appropriate court for your own cause
Answer #4
737 votes
Dear Client,

You need to explain with reason to withdraw from being a Guarantor stating that you had been threatened to become his Guarantor, bcz. he has been tourturing you mentally and physically and even threatened to kill. Also provide the Complaint petition or FIR copy to bank Manager. pls. rate on review.
Thanks
Answer #5
785 votes
It is not difficult. At any time you can file an application before magistrate to discharge the bond. Section 444 of The Code of Criminal Procedure,1973 lays down procedure for the same.

444. Discharge of sureties.
(1) All or any sureties for the attendance and appearance of a person released on bail may at any time apply to a Magistrate to discharge the bond, either wholly or so far as relates to the applicants.
(2) On such application being made, the Magistrate shall issue his warrant of arrest directing that the person so released be brought before him.
(3) On the appearance of such person pursuant to the warrant, or on his voluntary surrender, the Magistrate shall direct the bond to be discharged either wholly or so far as relates to the applicants, and shall call upon such person to find other sufficient sureties, and, if he fails to do so, may commit him to jail.
Answer #6
60 votes
The guarantor cannot withdraw the guarantee until all debts have been paid in full. Lenders use guarantors to reduce credit risk. This can be for business loans taken out by an individual's business entity, or for loans taken out by family and friends of that individual.
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