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Santhosh Kumar (clerk)     07 September 2013

Chit default and guarentor attachment

In a chit default case, I am a guarentor. Due amount is around 500000. I am a govt. employee. There are two others as guarentor. Of them one is govt. employee. 

My gross salary - 40000

11000 EMI towards thrift loan, for which DDO is guarentor. He deposits the EMI directly, through salary deduction.

13000 EMI towards bank personal loan, for which also DDO is guarentor. But it is not salary deduction.

What amount of my salary may be attached by th registrar.


 1 Replies

binay (advocate)     07 September 2013

dear mr.santosh, immediatly consult an advocate in your local area, or you will be in very danjorous footage in future. Law says that for every debt, the debtor along-with the guarentor are jointly and severaly liable to repay the debt, so better you consult a local advocate to defend you.

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