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$$$HELP !!about the loan guarantor!!!!
marycold007
Posts: 1 Newbie
in Loans
The lender will supply me 3,000 pound unsecured loan but need a homeowner guarantor , If I cant pay back the loan on time , what happen to my loan guarantor , and affecting to his/her life ?
Thanks
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0
Comments
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f I cant pay back the loan on time , what happen to my loan guarantor , and affecting to his/her life ?
The loan guarantor will be liable for the debt as if it was his/hers. No one should ever stand as a guarantor for someone else's debt unless they can afford to write off the money. It's a recipe for disaster.I used to think that good grammar is important, but now I know that good wine is importanter.0 -
And the fact they are asking for a homeowner guarantor means they want to secure the loan on the guarantors property.
Regards
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