Collecting from Guarantors
To Sue and continue to Trial or to Settle - That is the $100.00 Question
I. Introduction My topic is dear to the hearts of all credit officers, especially those in the special loans groups of our major financial institutions. I do not have a magical answer but hopefully my practical suggestions gained through my experience in numerous guarantee actions will be of assistance. II. Move Quickly It is imperative that once the decision is made to demand on a guarantee certain matters be addressed expeditiously. From my experience it is unusual for the credit officer making the decision to commence enforcement proceedings on the guarantee to have any personal knowledge of the circumstances under ... [more]
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