0
What else can I help you with?
How do you use the word guarantor in a sentence?
His father acted as guarantor when he got the loan from the bank to buy the house.
Can you cancel an agreement being a guarantor?
No, you can not stop being a guarantor to an agreement while the terms of that agreement are in force. Thus if you are a guarantor for rent and the person your are guaranteeing fails to pay the rent - YOU must pay the rent.If you a guarantor to a loan and the person with the loan defaults, YOU must pay off the loan.This is what it means to be a guarantor - you can not get out of the agreement when things begin to go wrong.Think VERY carefully before being a guarantor to ANYTHING.
What are the responsibilities of the guarantor on an apartment lease?
A guarantor is someone who has agreed to be legally bound to pay certain debts of another person if that other person does not, for any reason, pay his or her own debts. A guarantor of an apartment lease will be liable for the rent not paid by the tenant, as well as for any damage done and repairs not made by the tenant. Being a guarantor involves much more than simply being a reference for another person. Being a guarantor could end up costing someone thousands of dollars.
What is the spelling of guaranter?
guaranter
Does a guarantor have to sign a lease for his responsibility as the guarantor?
Yes
How to find out if my taxes are being help for student loans?
Contact your loan servicer or your guarantor.
What are the effects of release by the guarantor without the consent of creditor?
When a guarantor is released without the creditor's consent, it may jeopardize the creditor's ability to collect on the debt if the primary borrower defaults. The creditor may lose the guarantee provided by the guarantor, who may no longer be obligated to fulfill their obligations. This could lead to increased risk for the creditor and may impact the terms of the loan or credit agreement.
What are the duties of a guarantor?
When a person does not have good enough credit to secure a loan or financing on their own, they need a guarantor. A guarantor is a co-signer, and that means if the person taking out the loan does not make the payments, then the guarantor has to make the payments.
In corporate law is trustee for debenture holder also known as a guarantor?
No, trustee is different from a guarantor.
What happens if a guarantor dies and the loan is defaulted upon?
I was wondering the same thing. My father was the loan guarantor of my daughter's college loan, and he passed away a couple of years ago. Letters are still being mailed to an address where he never lived.
What are the rights of a guarantor against a creditor?
A guarantor has certain rights against a creditor, primarily the right to be indemnified for any amounts paid on behalf of the principal debtor. This means that if the guarantor fulfills the debt obligation, they can seek reimbursement from the debtor. Additionally, the guarantor may have the right to request that the creditor pursue the principal debtor before seeking payment from the guarantor. Lastly, the guarantor can challenge any actions taken by the creditor that might unfairly disadvantage their position.
How long do i have to be a guarantor?
The length of time you are required to be a guarantor typically depends on the terms of the agreement you are guaranteeing. It is important to carefully review the contract or agreement to understand your responsibilities as a guarantor, including the duration of your commitment.
