According to the provisions of Article 363 of the Civil Code of the Russian Federation, the borrower and the guarantor bear joint and several liability for the loan. If the former makes payments regularly, the bank has no grounds to demand payments from the person who has issued the guarantee. But if the situation changes, the creditor takes this step. In this case, the guarantor may be required to pay not only the principal debt and accrued interest, but also the penalties for late payments stipulated by the agreement.
In rare cases, loan agreements also provide for subsidiary liability. In such cases, the bank, as a rule, does not contact the guarantor immediately after the main borrower stops making payments, but first tries to reach an agreement with the latter.
But regardless of the terms and conditions set out in the agreement, the final non-payment of the debt will sooner or later lead to the lender turning to the guarantor. Therefore, any assistance in jiangxi mobile number database obtaining a loan must be conscious. Even if a loved one asks for it. Keep in mind that the guarantor does not have access to the money issued, but at the same time bears full responsibility for repaying the loan in a situation where the borrower cannot pay it and this case is not recognized as an insurance case.
Who can be a guarantor for a loan?
Each bank has individual requirements for guarantors. As a rule, they are adult, capable citizens of the Russian Federation. At the same time, the creditor pays attention to their reliability markers.
What are the basic requirements that a loan guarantor must meet:
age from 18 years, but banks often raise the minimum to 21 years;
citizenship of the Russian Federation and permanent registration on the territory of Russia;
good credit rating;
a permanent income that can be verified;
no outstanding convictions, etc.
By involving a guarantor in a transaction, the bank seeks to minimize risks. Therefore, a guarantee from a citizen without a permanent income or with a bad credit history is usually pointless. It is worth finding a person who will meet the bank's reliability criteria. Along with the borrower, the guarantor must provide a set of documents - including income certificates.
Terms and obligations of surety
The guarantor's obligations are valid until the loan is repaid. They can be removed earlier only in exceptional cases. For example, if the contract can be declared invalid or not concluded through the court. This is possible in cases where the person was misled, he was not aware of the actions being taken or did not know anything about the transaction at all - the fraudsters themselves "signed" the contract for him.
The guarantor will also have a chance to refuse to pay the debt of the main borrower if the bank changes the terms of the loan unilaterally. The obligations may also cease if the person who guaranteed the payment goes through bankruptcy proceedings.