Assume that person X has signed for a vehicle lease as a guarantor on behalf of person Y. Mr. Y fail to pay installments neatly then the vehicle is taken back by the leasing company and they do re-sale it. Any outstanding or differece of financial settlement should be paid by Mr. Y. Mr. Y also fails to settle such financial outstanding.
In such case, THE PERSON Y IS DEAD AND ALREADY 8 YEARS PAST.
1. What accountability that guarantor has?.
2. If the financial institution block the guarantor's name in the CRIB how he/her can clear his/her name?
Advise is expected from experience people on this regards.
