You might have to repay the whole debt
If you warranty a loan for a family member or pal, you’re referred to as guarantor. You are accountable for trying to repay the whole loan in the event the debtor cannot.
If a loan provider does not want to give money to some body on their own, the financial institution can ask for an assurance.
When you agree to become a guarantor, think carefully regarding your very own finances. Always see the financing deal and understand threats.
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