When one of your friends asks you for a loan guarantee, instead of making a hasty decision, it’s worth taking a moment to think about it. What happens if you stop paying installments? In this situation, his obligations pass on the guarantor. A guarantor, a survivor is in other words a person who guarantees the bank the amount of his property to repay the loan if the debtor ceases to pay the installments. There are times when the bank sends a bailiff’s order to his place of employment without informing the guarantor.
In such situations, half of the salary of the giver is transferred to repay the debt together with interest. The costs do not include costs of bailiff enforcement. The guarantor can recover his money by filing a lawsuit against the debtor, but it must be taken into account that such cases take years. Therefore, before making a positive decision regarding credit coverage, you should analyze the degree of risk that you may incur. Before signing at a bank, it’s worth honestly talking with the person asking for a favor, finding out about his financial and professional situation and what his monthly income is.
Undoubtedly, mortgage loans are the safest for the person who guarantees the loan. Their protection is first of all the flat or house to which the bank has the right of ownership. In such situations, the banks withdraw from the payment of the salary of the people, only put up for sale the property. It is worth finding out who the rest of us are, with loans for high amounts, banks are demanding several guarantors. We do not need to know them personally, but it is worth taking note of their addresses or telephone numbers in case of any problems.
We should try not to take the decision on guaranteeing loans by ourselves. Let us give ourselves time to discuss it with her husband, partner, they certainly also apply to her. Banking law requires the consent of the spouse if we do not have a property resolution. He must personally sign the bank, if he does not, it is the basis for annulment of the surety. When, during the analysis of all pros and cons, any doubts arise, you must refuse such a favor. By guaranteeing a loan, we expose our own money and thus our own financial stability.