A friend's bank asks you to pay for them because you were a surety

 

A friend's bank asks you to pay for them because you were a surety

 

A friend of yours takes out a loan to buy a car. To be of service to him, you stood surety with his bank for this loan. Today, without warning you, your friend stopped their monthly repayments. And the bank asks you for the amount due, as well as late payment interest. The lender must warn you from the first characterized non-regularized payment incident. If he has not done so, refuse to pay any penalties or late interest due between the date of this first incident and the date you were informed. On the other hand, you will have to pay the amount due in principal. Please note: do not sign a surety bond lightly. If the debtor can no longer repay, it is you who will be sued by the financial institution for payment of the sums due. If you sign up as a simple surety, you will only be sued if the debtor's assets are insufficient to cover his debt. On the other hand, if you are joint surety, you can be sued as soon as the principal debtor has been put on notice to pay by the creditor.

 

Dear,

 

I received your letter claiming the sum of (…) euros for the guarantee contract that I signed on (date) in favor of Mr./Mrs (name and first name of the borrower) on the occasion a loan for the purchase of a car.

 

I note that you have waited a long time to call me as a guarantee, while Article L. 313-9 of the Consumer Code requires you to inform the surety of the debtor's default from the first characterized payment incident likely to '' registration in the payment incidents file.

 

Consequently, I refuse to pay the costs relating to the delay that you have made to notify me.

 

Please accept, Madam, Sir, the expression of my best regards.

 

(Signature) 49