If one of your friends, acquaintances or coworkers asks you to act as a guarantor for a loan agreement, take your decision with full responsibility. Sometimes a rash consent can lead to extremely undesirable consequences for you, up to the loss of certain property. And it is not so easy to refuse from the already executed surety.
Instructions
Step 1
You can terminate the agreement defining your obligations as a guarantor for loan obligations by agreement of the parties. Usually, an agreement with the bank is required that the guarantor will be another person with whom the borrower will be able to agree. Discuss the issue of the possible termination of the guarantee, first with the borrower himself, and then with the bank that issued the loan. The best option for you would be a mutual agreement of all interested parties, which solves the problem.
Step 2
If for some reason it was not possible to agree, then the surety is terminated only on the basis of Article 367 of the Civil Code of the Russian Federation in one of the following cases: - with the termination of the obligation, which was secured by the surety;
- in case of a change in the obligation, which entailed an increase in the liability of the guarantor without his consent;
- when transferring a debt to another person, if the guarantor has not given his consent to this;
- if the creditor refuses to accept the proper performance of the obligation proposed by the debtor or the surety;
- at the end of the term specified in the surety agreement. When drawing up the surety agreement, other grounds for its termination may be introduced. Read this section of the agreement carefully before signing it.
Step 3
If none of the proposed methods suits you, go to court with a claim to terminate the surety agreement, carefully considering the reasons for such a decision. The usual basis for filing a claim is an indication of your error regarding the subject of the contract; in this case, there is a chance to achieve invalidation of the agreement. However, practice shows that in most cases courts of this kind are not satisfied. But it's worth trying.
