The author posted a question in Business, Finance
If a borrower's debt to a bank is repurchased by a collection firm, can debt collectors collect from the borrower's guarantor? and got a better answer
Response from Антон Владимирович[+++++]
Response from 0[+++++]
When entering into a surety agreement, the surety must understand that if a relative, colleague, friend - that is, the borrower will evade paying back the debt, these claims can be made against the surety. The creditor has the right to collect the debt from the guarantor. Collectors have the right to call the guarantor as many times as the law allows. The suretyship can be waived. It is necessary to challenge the suretyship agreement in court. If you think there are grounds for declaring it invalid, it is worth contacting a lawyer to prepare an appropriate lawsuit.
When entering into a surety agreement, the surety must understand that if a relative, colleague, friend - that is, the borrower will evade paying back the debt, these claims can be made against the surety. The creditor has the right to collect the debt from the guarantor. Collectors have the right to call the guarantor as many times as the law allows. The suretyship can be waived. It is necessary to challenge the suretyship agreement in court. If you think there are grounds for declaring it invalid, it is worth contacting a lawyer to prepare an appropriate lawsuit.
Response from 0[+++++]
Collectors are not a legal organization, they can't do anything
Collectors are not a legal organization, they can't do anything
Response from 0[+]
Yes, they can and they will
Yes, they can and they will
Response from 0[+++++]
The guarantor is responsible for the borrower if he doesn't pay his debts.
The guarantor is responsible for the borrower if he doesn't pay his debts.
Response from 0[+++++]
They can, but it is better to send them to court.
They can, but it is better to send them to court.
Response from 0[+++++]
Only by court order and through bailiffs.
Only by court order and through bailiffs.
Response from 0[+++++]
Send the debt collectors to hell.
Send the debt collectors to hell.
Response from 0[+++++]
Collectors are the ONLY bailiffs. Collectors have a different permissible toolkit. There are only 26 approved collection agencies in the FSIS registry right now. Check to see if yours is on this list.
Collectors are the ONLY bailiffs. Collectors have a different permissible toolkit. There are only 26 approved collection agencies in the FSIS registry right now. Check to see if yours is on this list.