Q: My bank presented my cheque which bounced obviously. It was against a loan amount, they had taken a cheque from my guarantor. Can they present his cheque? A: Definitely the bank has a right to present the guarantor's cheque as your security cheque has returned unpaid…

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Presenting the guarantor cheque if the loan original cheque bounces

My bank presented my cheque which bounced obviously. It was against a loan amount, they had taken a cheque from my guarantor for the same amount.

Can they present his cheque? And is it legal to present two cheques for the same amount and for the same loan account?

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1 Jun 2020, 06:38

Dear questioner,

Definitely the bank has a right to present the guarantor's cheque as your security cheque has returned unpaid.

Further, both you and the guarantor will have to face legal consequences as you have defaulted on the bank loan payment.

If need be, kindly contact by phone for a detailed discussion or write to us at our email for further assistance.

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