Vishwajit (Executive - Engineer) 17 August 2011

Gurantor of defaulter

Hi,

My Name is Vishwajit and i am a gurantor in case of defaulter (my freind) of two wheeler loan.

I am not in contact with the person since 4 years.

I had got a call from ICICI were i newly opened my account and came to know that my old freind hasn't settled a bike loan.

The case is in court.

I would like to settle the loan and get out of the legal case but i am not able to trace my freind.

In the above senario kindly advice what i should do..

I don't even know his account number or even his loan account number.

kindly help..

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1 Replies

pervez (adviser) 17 August 2011

You can approach the bank and state the situation.. you can ask for settlement under OTS by which waiver of interest and penal interest is considered .. The bank can put your name in CIBIL data [ defaulters] by which yr existing operations in the account may affect.....