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What are the responsibilities of the loan guarantor?
What are the responsibilities of the loan guarantor? A classmate who studied law some time ago said that although the times have been improving, people's legal awareness is still not high. Xiaobian asked why, he said that there is a customer Zhang who gave a guarantee to a friend because of his personal feelings, but he really took it himself. This is the case. Zhang, a junior high school student of Zhang, is the owner of a device manufacturing factory. Before the fund week, he turned to the bank and filed a loan application of 200,000 yuan. For security reasons, the bank asked Wang to find an economic strength. The guarantor, Zhang, who has done restaurant chain business for more than ten years, became Wang’s first choice. Only Zhang of junior high school culture only thought that he would sign a word, and Wang’s business would definitely be better. What Zhang could never imagine was that Wang not only did not manage his own factory, but disappeared. Later, the bank recourse to Zhang for debt, Zhang only realized that the guarantor had to bear the responsibility of joint compensation.
In order to let everyone avoid encountering such a big situation in the future, Xiao Bian now gives you a brief introduction about what the responsibility of the loan guarantor is.
First of all, the loan guarantor is such a role: when the borrower makes a loan application to the bank or other institution, the bank will require a guarantor for the security of the money, when the borrower cannot repay the loan on time. The guarantor should assist the borrower to pay off the money. Of course, if you want to help pay back the money, the guarantor must be a person with the ability to pay back. In the above example, Zhang became a guarantor of the bank license because he operated the restaurant for a long time and his family was well-off.
Second, the guarantee is divided into general guarantee and joint liability. If it is a general guarantee, the bank will first pursue the borrower's assets, and then recourse to the guarantor when all the borrowers' homes are still insufficient to pay off the debts. But if it is a joint responsibility, the bank can choose between the debtor and the guarantor to see who is more likely to repay the repayment. As for the Zhang in the above example, there is money and it is placed in front of the bank, which naturally becomes the object of bank recourse.
Although it is said that a friend can insert a knife, there is still a saying that when you are likely to sacrifice, it is worthwhile to think clearly about the sacrifice. Wang in the above example went away in the case that he may not be able to clear his debts. Obviously, he is not derogatory. Therefore, when someone asks us to make a guarantee, we must pay more attention to the creditworthiness of the borrower. In general, the better the creditworthiness of the borrower, the lower the risk of the guarantor. In addition, we must find out the borrower's ability to pay debts. Only the borrower's ability to pay debts is better, and the possibility that the guarantor is taken in is less.
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