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Rodie09 · 12th March 2009, 17:14

My Questions:

Is there a clause whereby I can withdraw my Guarantor status sometime down the line - thereasons could be many, like I no longer have normal relations with the Person I have Guaranteed for, and alike.

Assuming there is such Clause, what will the Bank do once I have withdrawn my Guarantee. Will they sieze borrower's assets or do similar things??

If they dont do it and let the loan continue, I'd suggest one should withdraw Guarantee after sometime if you have anyways landed yourself in it in the first place.

just my two cents.

Any comments?

12th March 2009, 17:14	#5 (permalink)
Rodie09 Newbie Join Date: Jan 2009 Location: Pune Posts: 18	My Questions: Is there a clause whereby I can withdraw my Guarantor status sometime down the line - thereasons could be many, like I no longer have normal relations with the Person I have Guaranteed for, and alike. Assuming there is such Clause, what will the Bank do once I have withdrawn my Guarantee. Will they sieze borrower's assets or do similar things?? If they dont do it and let the loan continue, I'd suggest one should withdraw Guarantee after sometime if you have anyways landed yourself in it in the first place. just my two cents. Any comments? __________________ *'The great thing about multitasking is that several things can go wrong at once' - Andrew B. Sweger*