Hi there,
I had issued a letter of guarantee for one colleague of mine around 8 months back. The same was with regards to a top-up loan on an existing Home Loan. The letter was issued in the format prescribed by the Financier which I got franked from my Bank and was supported with my income proof (bank statement showing credit of my salary) and my residence proof (passport copy).
Now I want to withdraw the same. Reason for withdrawal is purely personal. Also this colleague has arranged for a guarantor. Is it possible to withdraw the Letter of guarantee? If so what is the process? Also would it affect the Credit standing of this colleague?
Please advise…
Regards,
Mahesh