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I m guarantor in one vehicle loan


17-Feb-2024 (In Recovery Law)
My father took commercial vehicle Omni before 10+ years in which I was guarantor on the basis of job i was having. I was not aware what is guarantor and all. I only did signature on the file, my father gave to me. But now I have seen case in e court application under section 36 upon my father and me also bcoz I was guarantor. My father didn't pay the emi and I think that vehicle was also not surrender due to damage in accident. What should I do to remove my name from the case ?
Answers (1)

Answer #1
727 votes
With reference to your query you need to appear before the concerned court and file your written statement.

You can also approach the financial institution which provided the loan obtain the clone account statement and see how much is the claim amount. you can also give them a proposal for one time settlement.
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