Change Gurantor Name
9 months ago
Hi
We have purchased some vehicles for a company with one of the founding member as Gurantor. Now that person person is not with the company due to different reasons. We want to change the Gurantor with a new director of the company. Please advise if there are any legal process to be followed to get the name changed without affecting the loans with financiar.
A.Dear client,
If there is a genuine reason why your guarantor needs to be changed, for example, due to a change in their financial circumstances, then you should call your lender to discuss options. Occasionally, lenders may allow you to replace your guarantor as long as the replacement is suitable.
If there is a genuine reason why your guarantor needs to be changed, for example, due to a change in their financial circumstances, then you should call your lender to discuss options. Occasionally, lenders may allow you to replace your guarantor as long as the replacement is suitable.
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