0
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.
What else can I help you with?
What is the meaning of the suffix -or?
another
Does the word jail have a long or short vowel sound?
It has a long vowel sound.
How do you spell long in french?
"Long" in French is spelled as "long".
Does juice have a long you sound or a short you sound?
It has a long "u" sound.
Does the word cape have a short a or long a?
The word "cape" has a long a sound.
What is the spelling of guaranter?
guaranter
Does a guarantor have to sign a lease for his responsibility as the guarantor?
Yes
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.
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.
In corporate law is trustee for debenture holder also known as a guarantor?
No, trustee is different from a guarantor.
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.
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.
Who is the responsible person for a medical bill?
The guarantor is the person responsible for a medical bill. For a child, the guarantor is usually a parent.
Can you be a guarantor for the rent?
Yes, you can be a guarantor for someone's rent, which means you agree to pay the rent if the tenant is unable to do so.
What legal responsibility does a guarantor have?
A guarantor is someone who pledges that a loan or other type of debt will be paid. Usually, a guarantor agrees to pay or perform another person's debt or duty should that person fail to do so. The term is most commonly used in reference to financial assistance. However, it is important to note that accountability varies from institution to institution. Often it is possible for a guarantor to opt out of their role as guarantor.
What are the requirements for obtaining a guarantor personal loan?
To obtain a guarantor personal loan, you typically need a guarantor with good credit and stable income to co-sign the loan agreement. The guarantor is responsible for repaying the loan if the borrower defaults. Additionally, the borrower must meet the lender's credit and income requirements.
What is the difference in a cosigner and a guarantor?
A cosigner signs the debt agreement and the lender can demand payment from both the debtor and the cosigner. A guarantor does not sign and the lender needs to go through the debtor before demanding payment from a guarantor.
