What should you pay attention to those who agreed to become a loan guarantee?

The guarantee is salvation for those who have a low level of income or there is no property that could be given in pledge. Banks offer a loan with the provision of not all customers, but all due to the lack of the need for an additional guarantee of the execution of credit obligations.

Guarantor

The bank puts forward the same standard requirements for the guarantor, as well as to the borrower. The presence of related links is not necessary.

If neither the borrower, nor the guarantor pays the loan, then the Bank has the right to apply to the court with a claim for damages.

Agree to guarantee is a huge responsibility. In case of unscrupulous payment of the loan by the borrower, the credit history will be cleared not only with him, but also you.

Therefore, it is necessary to adequately appreciate the entire financial burden, which will appear at the borrower, and then ask yourself: whether he can cope with it. And only in the case of a confident positive response, agree on this transaction.