legal suggetion....

uday galbale (Querist) 17 September 2013 This query is : Resolved
Dear experts.... I am a teacher and i was a guaranter for one teacher couples over draft of rs.3 lacs at the district co-operative bank of etapalli branch. Where both of them have accounts. My account is in the same bank but in an another branch at allapalli. Among these debtors one is suspended from the job therefore his payment was stopped thereafter all at sudden the deduction from the payment of my account from jully onwards started and the notice as to future deduction was given by the etapalli branch on august month. but no information was given from my branch but deduction is started without intimating me. Out of the debtor couple one still in the job and her sallery account is already there with the etapalli bank but she was cleancheated. My family is unnecessariy suffering from such sudden deduction of my generous job to be guaranter. In that situation what should i do please suggest.

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ajay sethi (Expert) 17 September 2013
liability of guarantor is co extensive with that of principal debtor . if principal debtor has defaulted in making payment then bank can file suit against both . bank cannot aribtirarily start deducting installments from your account unless you have expressly authorised the bank . contact a local lawyer

R.K Nanda (Expert) 17 September 2013
meet lawyer personally.

Advocate Sastry (Expert) 17 September 2013
Bank can recover from your account only after due intimation to you since you are the guarantor.. If the overdraft is given to the debtor couple, Bank should recover from other account of the couple and not directly from the account of guarantor...As suggested by Mr. Sethi Ji please contact local lawyer

Rajendra K Goyal (Expert) 17 September 2013
You can persuade the debtor to meet their liability and demand the deductions already effected in your account. You can consult local lawyer.

uday galbale (Querist) 17 September 2013
Thank you experts...

Rajendra K Goyal (Expert) 19 September 2013
You are welcome.

Sudhir Kumar, Advocate (Expert) 25 January 2014
bank can recover from you

you can sue them for the losses you suffer.

Guest (Expert) 25 January 2014
As a guarantor, the bank has the right to recover from you. However, you can recover the amount from the debtor teachers. You may better persue the debtor colleagues to repay the loan directly to the bank, so that the bank can stop making recovery from you.

Sudhir Kumar, Advocate (Expert) 26 January 2014
If you change bank account then bank will have to file civil suit against all three of you.

At present they are untouched and you cannot avoid payment

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