Posted by: Jane | 2008/07/03

Am I mad - Des - Urgent

Just had a thought. I am sure you have already covered it but just in case. Is your name on the bond or as a guarantor? Please make sure that the bond is changed to his name only and/or your name is removed as guarantor. If you don't and he stops paying the bond the bank will hold you liable.
Do not take his word for it that he won't do this, trust no one. I know I was taken this way many years ago when I signed as guarantor for an HP on machinery.

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Our expert says:
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Thanks Jane, good point and a great example of why public platforms such as this are so great - people with different experiences and insights add tons of value.

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Our users say:
Posted by: Des | 2008/07/03

Hey there Jane, thanks for the warning, I was a bit clever I MADE him go to a laywer to get things done the legal way. I also gave him things to put into the papers, like I will not be liable for ANY papyments to the house or the rates or lights and water. Everything is in both our names, I have learned not to trust him there, because he defaulted on his payments MANY times, once the bank was close to dragging me to court because he didnt make his payments. So I wont be caught in that trap again. Thanks again Jane...

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Posted by: Jane | 2008/07/03

Read messages from Des "am I mad". His boyfriend is a bitch; breaking up; bought house together; (ex) boyfriend going to pay him out some money for house. I gather they have a bond on the house - if the house is in both their names or if he has signed as guarantor on the house then he must make sure that when he is paid out the bond is transferred into the ex's name only and he is no longer standing guarantee. If he doesn't and ex stops paying the bank will turn to him (Des) for payment.

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Posted by: Pink | 2008/07/03


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