Can loan guarantor sue the debtor for non payment
In Recovery Law
Answers (3)
Yes, a guarantor to a loan can sue the principal debtor if he defaults and the guarantor had to pay on his behalf. In fact, as per section 145 of the Contract Act, there is an implied promise to indemnify the surety. Also, as per section 140 of the said Act, the surety/guarantor steps into the shoes of the creditor and has every right against the principal debtor/ borrower once he i.e. the guarantor has satisfied the creditor's debt.
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It's depend on your transaction and agreement. Come with entire picture what u signed or not then only actual picture comes. But as per law their is only civil case again you for all no criminal case like arrest and all that taken against you. So contest it with your probable defense. U can contact me at my number.
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