Good day, I want to know what to do, I signed as a guarantor for a staff who took staff loan and the staff was disengaged from the organisation while he is having a running loan. Before I resign from the organization, I was paying the loan now that I have resign from the organization they are still asking to pay d loan,
Thank you for contacting us regarding your question.
Unfortunately, in order to be able to answer this question properly we will need more information about the terms of the loan. However, please note that the employee is still legally obligated to repay the loan irrespective of the fact that he/she has been disengaged. There is a possibility that the employee can renegotiate the terms of the loan based on his disengagement, but the law is that he/she is still obligated to repay the loan.
We hope you have found this information helpful. Please note that this information is provided for general informational purposes only and is not intended to be legal advice. No lawyer-client relationship is formed nor should any such relationship be implied. It is not intended to substitute for the advice of a qualified lawyer. If you require legal advice, please consult with a qualified lawyer. If you need assistance in contacting a lawyer, you may contact us at http://www.lawpadi.com/get-a-lawyer/ and we would be glad to match you with a lawyer who meets your requirements.
If you have enjoyed using our platform, please consider leaving a review here – https://uk.trustpilot.com/review/lawpadi.com
NB – You may also subscribe to our newsletter to get legal updates and articles in your inbox weekly – http://www.lawpadi.com/sign-up