Can my mother legally withdraw as a guarantor for the loan?
My mother acted as a guarantor for an individual who took out a loan. Currently, our relationship with this individual has deteriorated, and they are experiencing delays in loan repayment. Given the associated risks of being a guarantor, is there a legal option for my mother to withdraw her guarantee, ensuring that she is not held liable for any defaults in repayment?
1 Answer
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Advocate By LEAD INDIA
Answered: 19 Dec 2024
Sir, firstly you should amicably request the lender to withdraw your name from the post of guarantor and if he did not respond to it you can consult an expert lawyer who will assist you with best course of action.
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