Have the credit union really a right to Persue my parent at this stage?
Thanks for your contribution. I would be thinking along the same lines. Some legal advice is where I will have to go with this I think.Is this not a question for an expert.
My ten cents as a former Banker....the primary debtor is bankrupted, all his debt is cleared.
The guarantor is not liable until they are called upon formally by the CU. If the CU called upon the guarantor as soon as they were advised of the impending backrupcy then they may have an argument I would support.
If they called post bankruptcy then his liability was included in the bankripcy and so discharged.
Court may have to decide on this one.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?