Chapter 4 - THE BANK LETTER
The new letter was different.
The bank had approved a temporary increase to $300,000 after the company requested more liquidity before wedding season.
Because Haley was still a continuing guarantor, the bank was required to notify her of material changes under the specific guaranty and credit documents.
The letter listed:
current balance,
facility limit,
fees,
and collateral.
Haley called the banker.
“Did I approve this increase?”
The banker answered carefully.
“The borrower requested it.”
“That’s not my question.”
“No. Your guaranty is continuing and covers indebtedness under the facility subject to its terms.”
“Can they increase the line forever?”
“No.”
The banker explained:
credit approval,
guaranty scope,
notice requirements,
and revocation rights.
Haley asked:
“If I revoke today?”
“Future advances may be affected after effective revocation, depending on the agreement. Existing obligations remain.”
That was the first clean sentence anyone gave her.
The banker, Martin Cole, was uncomfortable too.
He had known Thomas.
Known Vanessa.
Known Margaret.
Known Haley’s name more than Haley herself knew his.
“Why didn’t anyone call me when the exposure doubled?”
Martin answered:
“We sent notices.”
“That’s not the same.”
“No.”
He did not defend the bank emotionally.
The bank had complied with its procedures.
That did not mean those procedures created understanding.
Haley asked:
“Did Vanessa tell you I approved?”
“No.”
“Did she say I knew?”
Martin paused.
“She said the family was aligned.”
Haley almost laughed.
Aligned.
A word broad enough to hide every disagreement.
Haley wrote it down.
Existing obligations remain.
May you like
Revocation was not magic.
It was a door that stopped opening wider.
