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Right of a guarantor

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1 Right of a guarantor on Tue Sep 27, 2011 11:49 am

nelsonma


Arresto Menor
Hi, I'm Nelson and I would like to consult my right as a guarantor. One of my colleague from work asked me if I could be here guarantor to a personal loan from a co-worker and I agree. All we have is peice of paper stating her obligation payments and schedule where we both signed. Now, she went AWOL and eventually get fired. What she left me was around 75% of her total debt which in fact hurts since it is still more than 11,000. She just moved to different location but I can trace where she lives and I would like to file a complaint to a baranggay so we can have a kasunduan. Can I do that as a guarantor? What is my right?

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2 Re: Right of a guarantor on Sun Oct 02, 2011 11:52 pm

attyLLL


moderator
your right arises only after you have paid for her loan.


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3 Re: Right of a guarantor on Mon Oct 03, 2011 9:02 am

nelsonma


Arresto Menor
Thanks for the advise Smile

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4 Re: Right of a guarantor on Mon Oct 03, 2011 11:40 am

gurl09


Arresto Menor
i need some advice po kasi humiram po ko ng 20k sa 5-6 d2 samin ginaranturan ko po ang tito,at time pass by years kami di nakapaghulog ng interest kasi po walang work si tito nung kinuwenta po nung nagpaputang ung 20k naging 60k na daw po.nakiusap po ko sa tita ko na kong pwede ko tulungan pero 5k lang daw monthly ang maibibgay niya nakausap ko po ung nagpapauatang ayaw po pumayag gus2 niya:
1.5k monthly pero ung 2k is the interest and the 3k is ibabawas don sa 60k na sum po nung utang namin lahat daw..pinabarangay po ko kasi nga di kmi nagbabayad but sabi nila buti nga hindi compulsary na 6k a month interest na sinisingil nila sakin..i promise naman sa nagkautangan namin na magbabayad kami paunti unti.kasi wala talaga only the option namin is 5k a month hanggang matapos ung 60k kasi kong tutuusin din pag nakapagbayad kami ng 60k my interest na din na 40k..di ko na po alam gagawin ko kasi ako po naiipit sa tito ko wala din ko makuha kasi kasi nawalan ng work kaya ako n ung gumagawa ng paraan..nung kinuha ko po ung pera ang nagbigay sakin is ung kapatid nung nagpapautang kasi siya ang kanang kamay verbal lang usapan namain..but dinala po ako sa kapitan nung mismong pinagkuhanan ng pera na pinipilit na mag iinterest daw ko hanggat di natatapos ung 60k na sum po..sa kagawad po pinilit kong papirmahin don sa 2k a month na interest..kasi daw madami pa i sesettle na problema..auko na po pumunta nxt week na hearing sa barangay kasi wala ko alam na pagkukuhanan ko only the 5k na inoofer ng tita ko
ano po ba pede ko gawin..?tnx in advance

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5 Re: Right of a guarantor on Mon Oct 03, 2011 11:41 am

gurl09


Arresto Menor
natatakot po kasi ko baka makasuhan po ko

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6 Re: Right of a guarantor on Mon Oct 03, 2011 7:20 pm

attyLLL


moderator
did you sign? so there is no written loan agreement?


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7 Re: Right of a guarantor on Mon Oct 03, 2011 7:28 pm

gurl09


Arresto Menor
wala po akong pinirmahan nung kinuha ko ung pera pero nung nakausap na namin siya sa barangay at ung sa brgy.members pa pumanig sa nagpapautang (don din kasi sila kumukuha sa barangay) nag usap kami for option kong paano babayaran..pero wala na tlga kming alam na ibabayad..makakasuhan po ba ko don?makukulong ba ko?

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8 Re: Right of a guarantor on Mon Oct 03, 2011 8:12 pm

attyLLL


moderator
when an agreement on interest is not put into writing, the provision on interest is not enforceable, meaning if you were sued, you would be liable only for the principal, but not the interest. but if you signed a bgy agreement, then that is enforceable, but if the interest is too high, you can seek relief from the court to declare the interest rate unconscionable

failure to pay a debt is not a crime.


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[i] Visit our FB Page: BPO Employee Legal Advice
Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
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9 Re: Right of a guarantor on Mon Oct 03, 2011 8:19 pm

bel08


Arresto Menor
ok tnx i think nakapirma po ko sa monthly 2k interest kasi ung suggest nung kagawad at nagpapautang..pero andami po nakakita don na auko tlga ung my interest kong pwede..kasi auko na din po sa korte pa humantong eto..if ever po ano pong kaso ang ipa file nila against me?
if ever po humantong sa korte po pwede ko po ba sabihin don na wala tlaga ko ibabayad huhulog hulugan ko na lang hanggang matapos?o sila pa din po masusunod ng option nila kong paano babayaran

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10 Re: Right of a guarantor on Fri Feb 22, 2013 12:24 am

Lolita2013


Arresto Menor
I want to ask about the rights of a guarantor who was put to jail and had to put a bail to get out of it.

My mother after much persuasion from a friend agreed to guarantee the loan of her friend's daughter-in-law. The primary debtor is now hiding from the creditor. To my surprise, police enforcers where apparently sent to our house and bring my mom to the station and held her in custody for a night because they could not process bail on the same day.

I know that as a basic constitutional right, no one should be put to jail because of debt. My question is what recourse do we have against the creditor who obviously harrased and wronged my mother.

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11 Re: Right of a guarantor Today at 8:24 am

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