вторник, 18 ноября 2014 г.

Can I terminate the contract of guarantee?

Currently, many banks make out loans to their customers only with mandatory surety under the contract. Typically, the surety agrees to sign only the closest relatives or friends of the borrower. Despite this, many guarantors some time regret his actions.
The fact that the liability of the guarantor to the creditor no less liability of the borrower. If the borrower stops paying on the loan, and the bank is unable to recover from his debts, he switched to the surety, which is required to calculate the debt with a stranger. If the principal does not agree or are not able to pay the debt, the lender can recover it through the courts, including the expense of the property of the guarantor.
In addition, the current legislation provides for a procedure of translation
of the loan to the guarantor in case of death of the borrower. Realizing what a bad story he got, the surety is trying to terminate the contract, but to do it unilaterally, alas, will not work.
Interestingly, among the duties of the guarantor and the borrower is almost the same, while the rights under the contract have no surety. By signing the pledge, people hardly think about the possible consequences. Thoughts on foreign debt began to torment the guarantor only when credit becomes problematic. In this situation, the surety is trying to abandon their obligations, but the time lost, and make it impossible.
When signing the contract of guarantee, the man realized that he did so in vain, it must terminate until the loan is serviced by the borrower under the agreement, without delinquency. The Civil Code of the Russian Federation said that the easiest way to get rid of the guarantee - the bank offer candidacy to replace themselves. Naturally, the candidate must be an adequate income and unblemished credit history.
Another option for the surety to abandon its obligations - transfer of debt on the loan for new borrowers who either do not need a guarantor, or it will be different.
In case of no indication in the contract of guarantee of its validity, a year after the signing, the guarantor can consider itself free from obligations. And in general in each bank your template contract of guarantee. If you examine it very carefully (better even ask for help from a professional lawyer), then surely there is some point to help the surety if you wish to get rid of the responsibility.

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