Wednesday, September 24, 2008

Email Question: Guarantor’s liability

Salam,

I received this email question on 19-9-2008:

'Salam,


En. Kamarul, saya menjadi penjamin kepada kawan bg pinjaman dengan bank dari tahun 2000 hingga 2010. Masalah di sini kawan saya telah gagal membayar ansuran bulanan tersebut. Pada tahun 2004 saya pernah di kenakan potongan gaji untuk membayar loan tersebut, tetapi sy telah mencari kwn sy semula dan dia telah membuat jadual bayaran balik dgn pihak (duit yang sy bayar telah pun di ganti). Sekarang perkara ini berulang lagi dan nama saya telah di senarai hitam, jadi ini menjadi masalah untuk saya membuat pinjaman dgn bank atau mana2 agensi kewangan.

Jadi saya ingin bertanya, jika saya selesaikan baki pinjaman tersebut, adakah apa2 tindakan undang2 yg boleh saya ambil terhadap kwn saya/pihak bank (krn pada pandangan sy bank tak bersungguh dlm mencari peminjam, sy yg membekalkan alamat dan no phone beliau kepada bank) untuk mendapat kan balik wang yg telah saya keluar kan dan menanggung apa2 kerugian lain?


Terima Kasih.'


Facts:-

  1. The sender is a guarantor of a loan taken by his friend from local bank
  2. The borrower (his friend) defaulted
  3. In 2004, guarantor had a salary deduction to satisfy the loan
  4. The guarantor managed to find the borrower, reschedule the loan repayment and get back his money
  5. Now, it happens again (defaulted)
  6. The guarantor's name has been blacklisted
  7. Now, this guarantor wants to sue his friend and/or the bank because the bank may seem not 'really' after the borrower.

Issues:-

  1. Whether the guarantor's liability is as good as the borrower?
  2. Whether the guarantor can sue the borrower?
  3. Whether the guarantor can sue the bank?


Answer:-

  1. In most modern loan contract and guarantee agreement, you may find that there is a clause saying that;
    1. The liability of the guarantor is as the same as the borrower, in repaying the loan in the event of default
    2. That the bank may sue the borrower alone, or together with the guarantor or even the guarantor alone
  2. So, in other word the 'act' of the bank start 'looking after' you as the guarantor rather than trying very hard first to locate or get the borrower to satisfy the repayment is actually legal
  3. Hence, your liability to the bank as what you have been guaranteed still stand tall
  4. After you have satisfied the loan, you may sue the borrower to recover back your money.
  5. You may not sue the bank, solely on the ground that the bank 'fails' to locate the borrower or try to get the borrower first settle his outstanding before proceed against you!


What you need to do?

  1. Start back the old process in 2004, find the chap and ask him to settle his debt and your money, but this time take emphasize on concrete 'words' from him.


Piece of advice to everybody:-


  1. Never ever guarantee a loan or whatever in the same nature unless the borrower is within your absolute control! (your wife, if you are married will definitely agree with me J )


Good luck!

3 comments:

  1. Hi,

    I am part of a loan taken from a Bank in
    2004,my problem is that the loan was given to 3 parties including me for a piece of Land bought at 200k,the issue here is that my name is not in the Land Title and it suppose to be a good business deal which was to work out good and turned sour between me and the other 2 parties involved in the Loan. My query is can I approach the bank to remove my name from the loan,as it has been defaulted by the 2 parties and I realise now that my name are in the Bank Negara system for Blacklist.Appreciate your advice.

    Thanks

    ReplyDelete
  2. whether or not you may remove your name in the joint loan is soly a discretion of the bank..but i am 99% sure that the bank won't do that..the reason is very simple..it is a joint liability loan secured by a jointly acquired land..though your name is not registered under land title, you (may be) stand as a third party loan borrower..benefiting from the loan and guaranteeing the repayment of the loan...

    ReplyDelete
  3. en kamarul,
    saya telah disaman oleh pihak bank sebagai penjamin dalam pinjaman sewa beli kereta. saya tak pernah tandatangan perjanjian tersebut. saya dapati teman lelaki saya iaitu peminjam telah memalsukan tandatangan saya. pembelaan saya hanya berdasarkan kepada penafian tandatangan kerana jika diiukutkan kepada procedure di bwh ASB 1967, kesemua peraturan telah dipatuhi. Sekarang pihak bank telah memfailkan permohonan di bwh Aturan 26 A. Adakah penafian saya mengenai tandatangan tersebut bukan tandatangan saya, dikira satu pembelaan yang mempunyai merit dan bukan satu penafian kosong semata-mata? Apakah cara untuk saya buktikan bahawa tandatangan penjamin tersebut bukan tandatangan saya?Terima kasih atas jawapan....

    ReplyDelete