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I Was His Guarantor For A Loan And He Eloped. What Do I Do? - Politics (2) - Nairaland

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Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by OlujobaSamuel: 7:30am On Aug 15, 2016
BeClever:



There are different types of payments instructions or instruments used for transactions in the bank..

Savings accounts: uses withdrawal slips which does not (for any reason) permit third party withdrawals..

Hybrid Accounts: Combination of savings and current accounts, uses cheques for withdrawals and can be issued to a third party to be paid (only in discretionary grounds, never guaranteed) to a third part..

This type of instruments however, can't be used for clearing due to lack of some vital clearing standard security features....meaning; the third part of which the cheque was issued to can only present it across the counter but, would never under any circumstances pay it into his other bank's account for clearing...

Drafts: Drafts are payment guaranteed instrument issued by the bank...

Before now, anyone can walk into any bank and order for a bank Draft. . All you require us the face value and the Draft charges and before 5mins the bank official hands you a cheque look-alike instrument which you can use for any payment..

However, most people that other for drafts are being directed by the third party and part of their requirements for a certain procedure...
Schools, company or people doing business with large amounts of money..

Payment instructions or Counter cheques: Some banks could demand you write a counter cheque to enable you withdraw from you account should in case your cheque was not ready or unavailable. ..
This type of instructions are not transferable and can only be used by the customer on the particular date it was issued, hence you change the date and counter sign of for any reason there was delay..

I could go on and on in teaching you anything and everything as it involves banking so you may understand that it's not everyone's comments you should counter with nonsense posts just for the sake of it..

Kockane make no mistakes in following my instructions and if you don't have any money and don't even want to pay at all, let me know some of the detail and I will teach you the best way out without a single scratch..
anything cheque is an unconditional order, the bank cannot but carry out the order. that's why it's criminal to issue a dud-cheque, when you stand as a guarantor, the finance house has no business chasing the debtor, they just tell you to fulfill your pledge(standing in for the primary debtor), even if they can get the debtor's location, they need not go for him but you, in this case, the guarantor already issued a cheque to that effect.
You think guarantee is something you can just dodge? ask yourself why most financial institutions prefer it as a form of security than even the debtor's asset?
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by OlujobaSamuel: 7:38am On Aug 15, 2016
SirJeffry:
Bro, you shot yourself in the leg by issuing a blank cheque. Stopping the cheques will make them bounce and that's a criminal offense.

If you want to mess the man up, write USmbassy, contact interpol and make sure you attach the loan papers as evidence.

Talk to a competent attorney but I think you may not be successful with the case. You signed to pay if he doesn't pay and attached a blank cheque to that effect. Did he give them any collateral? If he did, that should have been the first to confiscate before using your cheque. I'm sorry man.
thought I was the only one with such view, BeClever is even standing on his view that he should bounce the cheque when it wasn't stolen from him, I'm seriously surprised.
op, pls kindly give us an update on how you eventually scaled through whenever you're free from it.

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Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by BeClever: 8:08am On Aug 15, 2016
OlujobaSamuel:

anything cheque is an unconditional order, the bank cannot but carry out the order. that's why it's criminal to issue a dud-cheque, when you stand as a guarantor, the finance house has no business chasing the debtor, they just tell you to fulfill your pledge(standing in for the primary debtor), even if they can get the debtor's location, they need not go for him but you, in this case, the guarantor already issued a cheque to that effect.
You think guarantee is something you can just dodge? ask yourself why most financial institutions prefer it as a form of security than even the debtor's asset?


Trash!

See, I never said the shouldn't pay the debt...he could still win them if he likes trouble anyways..

But first he must control what they do with his account.
Read his opening post again, the cheques wasnt issued for the last loan that was evaded...

They (the loan company) must be forced back to negotiating table..

Again, nothing he does with his account on this issue is Criminal..he has the right not to honour this cheque until the deals are renegotiated to favor all parties..

Pls learn or stop this your ignorance, it rouses headache on me..

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Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by OlujobaSamuel: 8:22am On Aug 15, 2016
BeClever:
[s][/s]

Trash!

See, I never said the shouldn't pay the debt...he could still win them if he likes trouble anyways..

But trust he must control what they do with his account.
Read his opening post again, the cheques wasnt issued for the last loan that was evaded...

They (the loan company) must be forced back to negotiating table..

Again, nothing on toes with his account on this issue is Criminal..he has the right not to honour this cheque until deals are renegotiated to favor all parties..

Pls learn or stop this your ignorance, it rouses headache on me..
I better leave you to your ignorance. it's pointless trying to engage you. SHALOM

1 Like

Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by Nightie(f): 11:51am On Aug 15, 2016
Zoharariel:


Babie, how can we help this guy? grin

Option 1: I can summon Eshu Laalu Ogirioko to facilitate his deportation from Amerika within the next 3 days.

Option 2: I can summon Ogun Lakaye Oshimale to make him & his entire family die by the Amerikan Police guns within the next 7days.

You know here in ijebu, we're like the Russians, we don't play! grin

Now, which one would you prefer? grin cheesy grin


Lolzzz. Option 2 will do. Let him die by fire. Lol.



Hope m nt too harsh sha grin

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Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by Kockane(m): 11:54am On Aug 15, 2016
Kai, I don't even know again. I'm even more confused now than when I first posted. I've called the loan officer to inform her of my readiness to renegotiate the loan. I'd probably just pay off at once to avoid unnecessary interest. I haven't stopped my cheques though, I'm not quite clear on the legal implications of doing such and I don't want trouble with my employers. I'm also in the process of getting an official letter from the loan company informing me of the default on the loan with which I will obtain a police report which I intend to combine with the former and have my lawyer write the American embassy to assist in locating this guy. I hope this is a wise enough move.
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by helovesme(f): 1:11pm On Aug 15, 2016
Kockane:
Kai, I don't even know again. I'm even more confused now than when I first posted. I've called the loan officer to inform her of my readiness to renegotiate the loan. I'd probably just pay off at once to avoid unnecessary interest. I haven't stopped my cheques though, I'm not quite clear on the legal implications of doing such and I don't want trouble with my employers. I'm also in the process of getting an official letter from the loan company informing me of the default on the loan with which I will obtain a police report which I intend to combine with the former and have my lawyer write the American embassy to assist in locating this guy. I hope this is a wise enough move.

The bolded should be your main concern and any action you take, should be centered around this. I'm sure you do not want to lose your job or face any disciplinary action over this issue.

You do not know what card the loan sharks are going to play. They might end up presenting your cheques to the bank knowing fully well they might not be honoured. You can be accused of issuing a dud cheque and they can make a formal complaint to the police or EFCC. Imagine a scenario where the police or EFCC comes to your workplace accusing you of issuing a dud cheque? It will definitely get to your superiors and you will be suspended even before you are given any opportunity to clear your name.

Do you know the implications of a bank employee issuing a dud cheque? Even if you are given the opportunity to clear your name, how will you explain to your superiors that you stood in as a guarantee/issued blank cheques to a loan shark for a senior colleague? How will you justify/explain the bounced cheques?

Why do you think your colleague absconded? He knows fully well that the bank will get to know sooner or later about his level of indebtness (when his creditors start visiting the banking premises). So he's better off absconding. I won't be surprised if he's also indebted to the bank too. Thank goodness he hasn't defrauded any customer (or maybe he has and that is yet to come to light).

The best thing to do is look for money and pay off the loan sharks. If you've a mistake and you are already in the mess. Get yourself out rather than digging yourself further into the mess.

Hopefully, when the guy is all settled in US, he will contact you and offer to refund your money back to you (dollars is about 400naira now). All he needs is a job (that is, if he has the right to work in the US or if he can get a job as an illegal immigrant) and he should be able to pay off his debts if he's actually serious about paying them off.
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by Jlow2: 1:16pm On Aug 15, 2016
my bother don't entertain any fear, issues lyk this comes up in life, get a good lawyer whom can advice u and tell you the truth, not the ones after money, one day this good u did for a friend that turned out a problem will be rewarded by GOD, remain blessed.
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by Habakus: 1:18pm On Aug 15, 2016
Kockane:
Kai, I don't even know again. I'm even more confused now than when I first posted. I've called the loan officer to inform her of my readiness to renegotiate the loan. I'd probably just pay off at once to avoid unnecessary interest. I haven't stopped my cheques though, I'm not quite clear on the legal implications of doing such and I don't want trouble with my employers. I'm also in the process of getting an official letter from the loan company informing me of the default on the loan with which I will obtain a police report which I intend to combine with the former and have my lawyer write the American embassy to assist in locating this guy. I hope this is a wise enough move.
Bro,I've read the advices for you on this thread and I think you should go with what BeClever said. My reason is this:
I think that cheque is contestable as use to guarantee the last loan the man took which he couldn't service.
Hence,like suggested,you should stop your bank from further honoring the cheque,and then initiate a negotiation that you're more comfortable with.
But if you consider the above process stressful to you or you wouldn't want the rigmaroling that might come with it,and you can pay off the loan ( with the accrued interest probably),then by all means go ahead and pay it.
The final decision is yours to make. Goodluck.
Ps. I'm not an expert in this.
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by propconsultants: 1:59pm On Aug 15, 2016
BeClever:
Your first step should be, visit your bank and order them to cancel all the cheque you issued out that has not been used.. .

Then the loan company would come to you for negotiation then you shall (to avoid lengthy legal process) renegotiate the guys loan with them, you can agree to pay 5k every month till the expiration of the loan or they can go to hell or do what ever they like..

Also, during the renegotiation, tell them to forgo all the interests, accrued or yet to..

Do this tomorrow and come back to thank me later..

Don't be afraid you have your rights and personally you did not do anything wrong..

Renegotiate the loan with them down to 2k per month, maximum 5k..

But the truth is, you must pay of the loan now or later..

The burden of their customer eloping should be beared by both parties, don't allow them to intimidate you..

Contact me to advice you as you progress..

My advise is professional on this field..
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by Luckymay(f): 3:05pm On Aug 15, 2016
Trust any human at your own peril.
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by Kockane(m): 2:49pm On Aug 19, 2016
Luckymay:
Trust any human at your own peril.

Learnt that the hard way.
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by Luckymay(f): 3:45pm On Aug 19, 2016
Kockane:

Learnt that the hard way.
Unfortunately that's the only way to learn "the hard way"
Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by HtwoOw: 5:24pm On Aug 19, 2016
Sometimes, doing gbeborun is good


How? Apparently this scam was premeditated, If OP and his work friends had gossiped a bit, they'd have found out the criminal asked several people to be his guarantor


Your case is really sorry wish you the best

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Re: I Was His Guarantor For A Loan And He Eloped. What Do I Do? by ultron12345: 8:05am On Jul 08, 2017
Kockane:
Good day Nairalanders, please I am in desperate need of advise as I am confused and totally depressed. I am about to pay a painful price for being naive and stupid enough to trust someone I barely even know. This guy is a co-worker in the office, he was regional security coordinator for My office. A much older guy, and a family man at that. He approached me to stand as a Guarantor for a small loan he was taking with a money lending company and I was to sign an undertaking as well as sign blank cheques in case he defaults in payment.

As much as I had my reservations, I agreed as I just thought of the risks not being too high as he is well paid and would be able to pay back and being a staff of a financial institution, same as I, I was certain he wouldn't issue dud cheques on his account. Above all, I was being helpful to my fellow man so I was like, what d heck, lemme do it!

The first time was February last year, he paid off and took a second, which he also used me as Guarantor and all I needed to do this time was just send a mail, no docs to sign as they already had my cheques. He also paid off, then he took a third which I also sent a mail for and he was availed. This was some months back. Nothing to suggest anything was wrong or he had plans of eloping. I even still saw him as recently as two weeks back and we had a good conversation.

Now, on Friday I get a debit alert on my account for N55k from the company and I flared up immediately. Tried to call the guy to understand what was going on and his number was switched off. I drove straight to the lending company's office and met the rude manager who told me the guy's cheques bounced and they have since been unable to reach him so they debited me instead. Of his nine months to pay, he had only paid back four, remaining five. I was mad! I was neither informed nor given time to even try to reach this guy before having my account debited. It was a heated argument but I got up and left to avoid any ugly scenes. Anyways, because the cheque was issued a long time ago and the serialty didn't tally on my account, I was contacted to confirm it's authenticity to which I requested that the cheque be returned as I had no prior knowledge of it.

Now this guy's number is switched off. Word has it that he took off without a word, he is now in America with his wife and kids. He didn't even formally resign at work. He has deactivated his whatsapp. He is totally unreachable! My lawyer friend has advised that I take up issues with the lending company on why I would be debited without even informing me of the developments first. And I could also claim ignorance of the whole transaction being that only a mail from me was sent and not that I signed a document. I could claim that my account was hacked or something. I could also write the US Embassy reporting him that I was defrauded and he Eloped even worse is the fact that he took several loans and used a number of us as guarantors so I'm not alone. We could write a joint petition against the guy.

I'm just sad and depressed as to why people could be like this but I really need to know how best to go about this. I cannot pay 55k for four months out of nowhere. I like to live within my means, I don't have the heart for loans and all. Helpful responses will be greatly appreciated pls.

Lalasticlala sir, I'd appreciate if you could place this for a wider audience to see. Thanks.

OP, please tell us what eventually happened

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