Need Help On Bike Guarantor Issue

[fba3909c]

Did anyone encounter this before? Need advice on the following issue.

 

Past years, I had signed as a guarantor for my friend bike and now he had got me into trouble. The bike had been repo and the bike was resold by the bike shop. Now, the bike shop is engaging lawyer to take action on the 4 guarantors including me and also my friend, the owner of the bike as the bike shop was unable to find my friend which I am also encounter this problem.

 

The total outstanding amount is 14K, thus now I need to find a trustable lawyer to help me on this issue. Any advice?

[civicblade]

You are liable for your friend's debt because you signed on the dotted line as a guarantor.

 

No lawyer can help you.

 

Don't ever be a guarantor ever..... unless you intend to pay for the amount that you signed for.

[conjurer]

its usually very straightforward, especially if your friend got a bank loan, usually bank got water tight case against the guarantor... u should nevertheless engage a lawyer to look through all the documents u signed to see if any way the lawyer can help make things difficult for the other side and secure a settlement so you dont need to pay so much...

[Demon]

iu should nevertheless engage a lawyer to look through all the documents u signed to see if any way the lawyer can help make things difficult for the other side and secure a settlement so you dont need to pay so much...

 

Honestly, you don't stand a chance as the contract was prepared by the other party especially if it is a standard contract.

 

If you want to engage a lawyer to vet the contract, it should be before signing your life away as a guarantor.

 

You should dig that "friend" out or at least bring the matter up to his family.

 

I have come across loans secured with 2 guarantors, but 4 guarantors ?

[BlackBandit]

Cheapest alternative is to locate your friend and give his latest address & contact details to the bike shop.

[WawanAprilia]

Haiz ... never trust anione in this world including ya parents ....

[IvikaRazI]

Haiz ... never trust anione in this world including ya parents ....

 

Not everyone is like dat. Anyway in this world, there is a balance. Some bad some good. Its like if everybody got PHD, then who will wash the toilet, clear the rubbish? The world is far.

 

With regards to parents. They are the ones that raised you up, nurture and care for you. (Unless yours is different) I am proud to say that I have a good family. If you can't trust your parents, who can you trust? You life must be lonely.

 

To TS Issue, like what the rest says, its quite difficult. Before I sign my life away, I will check if the person is trustworthy. So far most of my friends are. They pay on time.

[conjurer]

nowadays, if u want to get a loan, very often u are required to get a guarantor. so if the advice is dont be a guarantor ever, then who will be your guarantor when u need the help?

 

 

Haiz ... never trust anione in this world including ya parents ....

[WawanAprilia]

Like i said i dun trust anyone in this world ... I believed in tat statement .. Anyway people trust me and they are the guarantor of my bike ... Its wat i am tat people gain the trust but still i dun trust anyone in this world including my brother .. I dun completely trust anyone .. Tats wat im brought up wit and tat statement lies in me till now ...

[conjurer]

actually this is not true... u trust a lot of people, u even trust strangers....

 

if you ride a motorcycle, u are in fact trusting everyone on the road with your life....

 

 

 

Like i said i dun trust anyone in this world ... I believed in tat statement .. Anyway people trust me and they are the guarantor of my bike ... Its wat i am tat people gain the trust but still i dun trust anyone in this world including my brother .. I dun completely trust anyone .. Tats wat im brought up wit and tat statement lies in me till now ...

[WawanAprilia]

No use havin beef in forum .. Enuf of this ...