Co-maker of an Unpaid Loan

zyra m. plata · 1 Co-maker of an Unpaid Loan Wed Feb 25, 2015 10:22 am

zyra m. plata

Arresto Mayor

Posts : 68
Join date : 23/08/2013
Age : 38
Location : Batangas, Philippines

Good day.

Last year, I agreed to co-make a loan (my in-laws being the principal borrower and actual user of the proceeds).

I have no communication with them since then.

I have received a final demand letter which means that my in-laws were not able to settle the debt.

I am a solo parent now (their son leaving me and not giving any financial assistance).

Is there any step I should do to clear my name in this situation?

Thanks in advance.

tsi ming choi · 2 Re: Co-maker of an Unpaid Loan Sat Feb 28, 2015 8:01 pm

tsi ming choi

Reclusion Perpetua

Posts : 760
Join date : 08/04/2011

You will pay their(in-laws) obligation to clear your name to the creditor, BUT you have the right to ask for reimbursement from the maker(in-laws) for the payment made to the creditor.

zyra m. plata · 3 Re: Co-maker of an Unpaid Loan Mon Mar 02, 2015 10:02 am

zyra m. plata

Arresto Mayor

Posts : 68
Join date : 23/08/2013
Age : 38
Location : Batangas, Philippines

Sir, thanks for the response...Is there no other way? I mean can't I declare that I am not financially capable of paying the debt?

iancarlo · 4 Re: Co-maker of an Unpaid Loan Thu Mar 26, 2015 5:11 pm

iancarlo

Arresto Menor

Posts : 1
Join date : 26/03/2015
Location : gen.trias cavite

pano po dapat gawin kapag yung co-maker ang nagbayad ng utang lahat dahil. ibig po bang sabihin cleared na yung record nya sa nbi/police clearance,pd ko parin po bang habulin yung ginarantoran ko.thanks po.

Katrina288 · 5 Re: Co-maker of an Unpaid Loan Fri Mar 27, 2015 7:46 am

Katrina288

Reclusion Perpetua

Posts : 892
Join date : 23/10/2014
Location : Makati City, Philippines

iancarlo,

Kailangan muna madismiss yung case laban sa iyo bago ka maclear sa NBI. Yes, pwede mo habulin yung principal debtor para i-reimburse ka sa binayaran mo.

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Co-maker of an Unpaid Loan

1 Co-maker of an Unpaid Loan Wed Feb 25, 2015 10:22 am

zyra m. plata

2 Re: Co-maker of an Unpaid Loan Sat Feb 28, 2015 8:01 pm

tsi ming choi

3 Re: Co-maker of an Unpaid Loan Mon Mar 02, 2015 10:02 am

zyra m. plata

4 Re: Co-maker of an Unpaid Loan Thu Mar 26, 2015 5:11 pm

iancarlo

5 Re: Co-maker of an Unpaid Loan Fri Mar 27, 2015 7:46 am

Katrina288

6 Re: Co-maker of an Unpaid Loan

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