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Answered in 2 minutes by:
8/18/2009
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience: Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
VerifiedYes, if you go guarantor, then in the event that the loan repayments are not made, the bank can seek that you make the repayments. As guarantor you are legally liable to the bank to make the loan repayments.
That means that the bank could get judgement against you and seek to sell your commercial unit to satisfy the judgement.
That means that the bank could get judgement against you and seek to sell your commercial unit to satisfy the judgement.
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience: Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
VerifiedDeborah Awyzio and 87 other Australia Law Specialists are ready to help you
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