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guarrantor to a friend binding agrrement in the same company

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mawhej23


Arresto Menor
i signed as a guarrantor, in the statement that clearly states that the bindees will pay in two year terms. If the bindees will not pay in two years, im liable to pay the debts in the reason that i can pay since i have already finished my motorcycle monthly payments, my globe plan and other loans such as pagibig and sss, etc, in those two years.

The HR Department voided the agreement that i have signed and provide a new agreement which states that as guarrantor, im liable to pay all debts rigth now. The finance charge my monthly payroll of 3000 pesos.

The bindees mother also set an appointment to the finance Department but they decline.

Mrs. Bechner (the trainor) says " The HR Department can do whatever kinds of paying to the bindees but not to the guarrantor." I have the power to decline."

If the attached proposed agreement was voided, the power of being a my guarrantor was also voided. I dont signed any other agreement except to the bindees letter of 2 year terms payment.

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attyLLL


moderator
it's a bit tough to answer this without first reviewing what is stated on the contracts.

what happened to the principal debtor? resigned? terminated? still there?

is there an acceleration clause on the contract? the stated terms are what are important, but no party can unilaterally cancel and replace it with something else, unless authorized in the original contract.


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mawhej23


Arresto Menor
the principal debtor resigned.

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attyLLL


moderator
if there is a matter in the contract about having to pay in full if in case there is resignation, then the company is within its rights.

note, you can ask to be subrogated to the rights of the company if there is a mortgage over the vehicle. that way you can also enforce your rights. good luck.


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mawhej23


Arresto Menor
the principal debtor resigned and work abroad.the contract stated that the bindees should pay for the training if he cannot complete the stay in the company. i signed to the promise sorry note as a guarrantor since the letter stated that the bindees will pay for a 2 year terms. the company voided the letter afterwards when the bindees resigned. in this case do i have the power to decline for being a guarrantor since the company wants the full payment within which i cannot give the it at once.

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attyLLL


moderator
again, it is difficult to give an answer. please review the original document that you had regarding the principal loan and the guarantee. if you will contest the deductions to be made, the proper remedy is to file a complaint at nlrc for money claim. good luck.


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