QUESTION
As a loan guarantor do I need to sign loan docs, and do I get a copy of the contract
Asked on May 20th, 2014 on Breach of Contract - California
More details to this question:
Was ask to be a loan guarantor for my daughter. I let the company check credit to see if I would qualify, they said I did, wanted to think about it and look over the contract. I never got a copy of the contract and did't sign any documents. I now know they made me a guarantor anyway, because my daughter missed a payment and cashcall took a payment from my bank acount. They must have gotten my banking info from her. Is this legal
1 ANSWER
Real Estate Transactions Attorney serving Sacramento, CA
at
Abdallah Law Group, P.C.
Update Your Profile
A contract to guarantee the debt or duty of another must be in writing under the Statute of Frauds. This appears to be an unauthorized withdraw by the lender in that regard. It also appears to be a violation of 15 U.S.C. § 1963e
I would recommend disputing this transaction; or better still contact an attorney to act on your behalf.
Mitch Abdallah, Esq.
Answered on May 22nd, 2014 at 12:07 PM