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Written by Riviera Reporter
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Be cautious with cautions!
I was never one for Shakespeare back in my Wisconsin high school but I
do remember—well, half remember—a line about not being a lender to a
friend since you can end up losing both your money and your friend.
That’s a lesson learnt by Dave in Juan-les-Pins who offered to
guarantee a bank loan to “a very old mate" he worked with. Well, the
V.O.M. quickly stopped his repayments, and vanished. Dave is looking at
paying off a debt of close on 15,000 euros! Unless you know you can
totally trust someone—and, sadly, how often is that true?—just don’t
stand guarantor for other people’s loans. Sure as eggs, the lender will
come after you if there’s a problem and French law is tough on
this.
From Reporter 92 - Aug/Sept 2002
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Finance and Banking 
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